To set up a company in Kenya, you need to follow the steps below:
- Choose a business name: The name should be unique and not similar to any existing business name.
- Register the company: This can be done at the Registrar of Companies, which is a department under the Attorney General’s Office. You’ll need to provide details about the company’s directors, shareholders, and registered address.
- Obtain a tax identification number (TIN): This can be obtained from the Kenya Revenue Authority (KRA).
- Apply for business permits and licenses: Depending on the type of business you plan to run, you may need to obtain various permits and licenses from government agencies.
- Register for VAT: If your business will have an annual turnover of more than KES 5 million, you’ll need to register for value-added tax (VAT).
- Open a bank account: You’ll need to have a bank account in the company’s name to keep its financial transactions separate from your personal finances.
- Hire employees: If you plan to have employees, you’ll need to register with the National Social Security Fund (NSSF) and the National Hospital Insurance Fund (NHIF).
