Kenya, or also known officially as the Republic of Kenya, is an African country located within the Great Lakes region in East Africa.
What You Need to Know Before Forming a Company in Kenya
Kenya has a numerous amount of tax treaties, protection agreements, and investment promotions. Due to its free enterprise economy and having one of the best economy in Central and East Africa, Kenya is a well sought after and popular business location. In 2004, the Kenya Investment Authority, which is a statuary organization, was established to promote investments in Kenya. It is in charge of supporting and aiding the execution and starting of new businesses and investment projects. It also offers aftercare services for both new and existing businesses and investments. If looking to open a new business in Kenya, a legal assistance team is recommended to help will all administrative tasks such as filling out important documents and interacting with important clients and business partners.
When opening a business, the investor can choose between 100% ownership or with local investors in partnerships. The only categories excluded are information and communication technology, insurance, stock market investments, and air services. Companies with limited liability are not able to invite the public to take part of its shares and are not able to have over 50 people, excluding the people in employment.
How to Register Company in Kenya?
Kenya typically requires their businesses to have one or more permits or licenses, dependent on the businesses activities. County councils will be involved in the licensing of a company or business. The only license that businesses are required to have is the EPZ license. Capital gains tax will not be applicable, as it is currently suspended in Kenya. Expenses will not be permitted on any income of a person that can be taxed. Under the Kenyan law, foreigners are enable to own up to 100% of shares.
To open up a new business, many laws and policies need to be known, especially when opening up a new business in a foreign country. Hiring a legal company that will do legal assistance work will make running the business go along much more smoothly, PFSER will be able to file all important documents such as tax and legal papers. A team specifically designed to help you with legal administrative work will make running the business easier and smoother.