Ever wanted to start a business but don’t know where to start? Here is a break down of the documents you need and the procedures. Some of the processes might take slightly longer than projected but it has improved.
1. State registration
Registration the business as legal entity, statistical, and tax registration with the Center for Public Registration
Duration: 3 days
Amount: KES 100 per name reservation
2. Stamps and Nominal Capital Statement
You will need a stamp of the memorandum and articles and a statement of the nominal capital
Duration: 5 days
Amount: 1% of nominal capital + KES 2,020, stamp duty on Memorandum and Articles of Association
3. Stamp Duty Payment
Pay stamp duty at bank
Duration: 1 day (included in the previous procedure)
Amount: KES 100 bank commission
4. Declaration of compliance
This is (Form 208) is signed before a Commissioner of Oaths /notary public
Duration: 1 day
Amount: KES 200
5. Registrar of Companies
You will need to file deed and details with the Registrar of Companies at the Attorney General’s Chambers in Nairobi
Duration: 7- 14 days
Amount: KES 6360
6. Tax Registration
Register with the Tax Department for a PIN and VAT online here
Duration:1 – 2 days
Amount: no charge
7. Business Permit Application
Apply for a business permit
Duration: 5 days
Amount: KES 5,000
8. NSSF Registration
You need to register with the National Social Security Fund (NSSF) at NSSF Building. This is a legal mandate so even entrepreneurs who have yet to register need to fulfill this.
Duration:1 day
Amount: no charge
9. Register with the National Hospital Insurance Fund (NHIF)
Duration: 1 day
Amount: no charge
10. Register for PAYE
Duration: 1 day
Amount: no charge
11. Company Seal
Make a company seal after a certificate of incorporation has been issued.
Duration: 2 days
Amount: between KES 2,500 and KES 3,500
This is courtesy of the World Bank Report- Doing Business in Kenya 2011