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Why Register a Foreign Company in Kenya?
Kenya’s strategic location, robust infrastructure, and investor-friendly policies make it an ideal hub for businesses targeting Africa. Registering your foreign company not only ensures compliance with local laws but also opens doors to a wealth of opportunities, including access to government incentives and a rapidly growing consumer base.
Foreign companies operating in Kenya are primarily regulated by the Companies Act, 2105. Under this Act, a foreign company is defined as a company incorporated outside Kenya but establishing a place of business within the country. The Act outlines the procedures and requirements for registration, ensuring transparency and legal compliance.
Additionally, other legislative frameworks impact foreign companies, particularly in terms of tax, labor and social compliance:
- Income Tax Act: Foreign companies are subject to taxation on income accrued or derived in Kenya. This includes corporate tax, withholding tax, and Value Added Tax (VAT) obligations. Registration for a PIN with the Kenya Revenue Authority (KRA) is mandatory for tax compliance.
- National Social Security Fund Act: This Act mandates all employers, including foreign companies operating in Kenya, to register their employees with the NSSF. Contributions to the fund are compulsory and ensure employees’ access to social security benefits such as pensions and retirement benefits.
- Social Health Insurance Act: Foreign companies must also comply with the provisions of this Act, which requires employers to contribute to the national health insurance scheme for their employees.
