In Kenya, there are several types of companies that you can register depending on your business needs and goals. Here are the most common types:
Sole Proprietorship: This is the simplest form of business, owned and operated by an individual. It is not a separate legal entity, and the owner is personally liable for all debts and obligations of the business. This is a company.
Partnership: A partnership is a business owned by two or more individuals who agree to share profits and losses. Like a sole proprietorship, it is not a separate legal entity, and the partners are personally liable for the business’s obligations.
Limited Liability Company (LLC): An LLC is a separate legal entity from its owners (members), providing limited liability protection. This means that the members’ personal assets are generally protected from the company’s debts. An LLC can have one or more members.
Private Limited Company: A private limited company is a separate legal entity with limited liability for its shareholders. It requires a minimum of two shareholders and a maximum of 50. It is commonly used for medium-sized businesses.
Public Limited Company (PLC): A PLC is a company that offers shares to the public and has a minimum share capital requirement. It can be listed on a stock exchange, allowing the public to invest in the company. PLCs have more stringent regulatory requirements compared to private limited companies.
When deciding on the type of company to register, it’s important to consider factors such as liability protection, tax implications, ownership structure, and regulatory requirements. It’s recommended to consult with a legal professional or business advisor to determine the most suitable type of company for your specific situation.
Contact ocl business associates for company registration in kenya