If you are eager to run business in Kenya, you must be aware of some aspects of the business environment in Kenya. At present, the government of Kenya is welcoming the advent of the private investments in the country from the foreign investors. The non traditional diverse exports are highly encouraged by the Kenyan government. There are nearly nine hundred major manufacturers and more than two hundred multinational manufacturers. These multinational manufacturers are from France, Britain, the United States of America and West Germany. The foreign investments that have been already registered, have been estimated to have been more than one billion dollars.
The first thing that you have got to do before you begin your business in Kenya, is to register your company from the authorized registrar. This act of registration of your company has to go through a number of processes. First of all, you have to obtain the approval for your company, and it will take a time duration of three days. Next, you have to get the articles and the memorandum and the statement of your capital stamped by the due authority. This process will demand nearly two weeks. You will have to get theses documents stamped from the bank also.
After you have got the necessary documents stamped, you are required to sign the Declaration of Compliance before a commissioner. Then, you have to file the deed with the company registrar at the chamber of the Attorney General. The chamber of the Attorney General is in Nairobi. Filing this deed and details will take at least two weeks. It may often demand some more time. You need to obtain a PIN for which you have to register with the Department of Tax. After this you have to register with the VAT office. This process can be completed within the same day.
What you need next, is to send a application for the business permit. Without business permit, it is impossible for you to run any business in Kenya. You will also have to register with the National Social Security Fund and National Hospital Insurance Fund. For registration with these organizations, you will have to spend not more than one day each. Do not forget to get your company registered for the PAYE. It will take just one day. When the certificate of incorporation is issued, prepare a seal for your company. Pay much heed to the company seal of yours, since it is one of the very important elements of identities of your company. You will need nearly two days to get your company seal ready.
These are the twelve phases that you have to go through if you are to launch a new business company in the country of Kenya. Most of the process demands no expense on your part. Considering the business prospects around the world, Kenya is one of the fertile countries where you can house your business.
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