Company legal compliance in Kenya

Company legal compliance in Kenya

In Kenya, company legal compliance involves adhering to the Companies Act 2015 and other relevant laws, including the Beneficial Ownership Regulations. This includes disclosing beneficial ownership, maintaining a register of beneficial owners, and ensuring adherence to various tax and regulatory requirements. 

Key Aspects of Company Legal Compliance in Kenya:
  • Registration and Incorporation:

    Companies must register and incorporate in accordance with the Companies Act 2015. 

  • Beneficial Ownership:

    Companies are required to disclose their Ultimate Beneficial Owners (UBOs), create a Register of Beneficial Owners, and submit it to the Registrar of Companies, as mandated by the Beneficial Ownership Regulations. 

  • Tax Compliance:

    Companies must register for a Kenya Revenue Authority (KRA) PIN to fulfill their tax obligations. 

  • Annual Returns:

    Companies are required to file annual returns with the Companies Registrar within 14 days of the annual general meeting. 

  • Corporate Governance:

    Publicly listed companies and state corporations are mandated to conduct annual governance audits. 

  • Legal Audits:

    Companies should consider legal audits to ensure compliance with the law and identify potential legal issues. 

  • Sector-Specific Regulations:

    Compliance varies depending on the industry. For example, contractors must account for withholding taxes, while manufacturers may need to address excise duties. 

  • Employment Compliance:

    Companies with employees must comply with employment and labor laws. 

  • Intellectual Property:

    Companies need to be aware of and comply with intellectual property laws. 

  • Other Compliance Areas:
    Compliance also includes adhering to regulations related to environmental protection, data protection, and other sector-specific requirements.
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