A Limited company is a private company whose liability or shares are limited to the members of the company have invested. Members of the limited company are responsible for all the debts that the company may engage into.
How to register a business in Kenya is very simple depending on the type of business one is engaging into. Limited company registration requirements helps people to successfully register their company till its recognition by the government.
Private Limited company in Kenya should be registered first before members start running it. Let me show you how to register a limited company in Kenya:
Step 1: Selection of your preferred company name.
Step 2: Execution of CR1, CR2, CR8 and statement of nominal Capital which are signed by the members and directors of the company.
Step 3: Registration Application which is launched by the Registrar.
Step 4: Issuance of Certificate of Incorporation.
Step 5: Application of the PIN.
This is the legal procedure on registering a limited company in Kenya.
Must Do To Registering A Company In Kenya
Unlimited company has a different registration procedure from the limited company though they share some relations.
Here are the steps for a successful process for registering a company in Kenya:
1.Name approval.
2.Memorandum and articles association which defines the company’s power.
3.Requirements of the share capital.
4.Shareholders legal details.
5.Appointment of directors.
6.Incorporation of documents.
7.Company registration with the Kenya Revenue Authority.
This is the legal procedure which shows how to register a company in Kenya as a youth or any other person in the country.
You may also be interested in knowing the private Limited company registration cost in Kenya which is averagely Ksh.30,000 including all the items to be registered.
Conclusion
In summary, private company registration is always easy and does not cost much of your money. Besides, it helps in creating job opportunities for a variety of citizens in the country.
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