The post Company Name Change – What You Need To Know appeared first on Fenesi.com.
]]>If you have an eCitizen account, visit this link – https://ag.ecitizen.go.ke/index.php/dashboard and log in using your login details, then click on “Make an Application” option.
Under Company Registration, you will see the option for “06. Request for Change of Particulars – COMPANY NAME”, click on it and follow the instructions.
IMPORTANT! Please contact eCitizen / Company Registry (+254202227461) and ask if that service is still valid since they have migrated their eCitizen system from the AG (https://ag.ecitizen.go.ke/) to BRS (https://brs.ecitizen.go.ke/).
eCitizen changes Ksh. 4,050 for the change of company name.
We do not offer company name change service.
Photo Courtesy of andrewscampbell.com
The post Company Name Change – What You Need To Know appeared first on Fenesi.com.
]]>The post 5 Common Ways for Foreigners To Start a Company in Kenya appeared first on Fenesi.com.
]]>This is one of the easiest ways for a foreigner to set up a company in Kenya. A foreigner owner who has a Kenyan partner will not be required to provide a KRA PIN and Alien ID which take enormous time and effort to acquire. Kenyan partner can be a family member, friend or business partner.
Do you already have a Kenyan business partner whom you can start the business together? He or she needs that have a copy of ID, a copy of iTax KRA PIN, passport photo, and other details. If the Kenyan partner doesn’t have an eCitizen account, we can assist to register one for them.
This option will make it easier for you to register your company conveniently and with ease. This route will provide you with a service where a nominee will act as a director of your company during the registration process to meet the requirements needed to set up a company.
Nominee Director will only hold 1% share of the company. Once the company has been registered, they will stay as nominee director for up-to 6 months allowing you ample time to find your potential local business partner to replace the nominee director and transfer the shares that were being held. Please note that to replace a director of your company, it usually cost around $100.
To open a branch or subsidiary in Kenya of an existing foreign company, you will need to register for a Certificate of Compliance. You must provide a copy of your Certificate of Incorporation, a copy of Memorandum and a Company Tax Registration Certificate of the existing foreign company.
These documents need to be certified as genuine by a Public Notary. You will also be required to provide details of the intended/actual physical location of your business in Kenya.
You will need an agent in Kenya to represent you in the application process; who will be able to provide their ID and KRA PIN as well as sign Form 238 on your behalf. You will also need to have an Alien ID, in order to open an eCitizen account as a foreigner.
Foreign owners intending to register their company without a Kenyan partner will be required to provide a KRA PIN for the application. In order to acquire this document as a foreigner, they will first have to get an Alien ID, for which they become eligible for after three months of consecutive residency in Kenya.
Alien ID application can take up to five weeks to be processed. Alternatively, foreign owners who already have $100,000 and above to invest in Kenya, they can apply to KenInvest to facilitate obtaining a KRA PIN for the directors that will facilitate the registration of the company while avoiding the need to have an Alien ID.
Through acquisition or merger, foreigners can pay an agreed amount for a target Kenyan business and start the process of changing ownership by adding and removing directors and shareholders. This process will be more rigorous if buying a public limited company as opposed to a private company limited by shares.
We have launched our new ebook that will guide you to start, run and grow your own business in Kenya.
Our ebook covers in more depth all the crucial topics you need to start your business in Kenya, including;
You can proceed to make your order by filling in the form below;
Photo courtesy of travelplusvacation.com
The post 5 Common Ways for Foreigners To Start a Company in Kenya appeared first on Fenesi.com.
]]>The post Foreigners Starting A Company In Kenya: The Ultimate Guide appeared first on Fenesi.com.
]]>What will I need to have my business registered, open a business bank account, comply with all regulations and compliances?
How can I register my company without travelling to Kenya?
Who do I know that can assist me to get all my goals accomplished faster in setting up my company?
Each question brings up more question, leading to frustration if one does not have the right information and support through the registration process.
This ebook is set up in three section, part one will take you through complying with company registration requirements and the different options you can opt for when setting up your company.
Part two will provide you with crucial steps in getting your tax compliance, obtaining a work permit and a business visa.
The last section, part three will indicate the process you need to do to start trading, apply for government tenders if interested and how you can receive payments from clients in Kenya.
Our ebook covers in more depth all the crucial topics you need to start your business in Kenya, including;
You can proceed to make your order by filling in the form below;
Photo Courtesy of affordableaccountancy.co.uk
The post Foreigners Starting A Company In Kenya: The Ultimate Guide appeared first on Fenesi.com.
]]>The post A Guide For Americans: Here’s How To Register A Company In Kenya appeared first on Fenesi.com.
]]>As it stands, there are five common ways for foreigners to set up or own a limited company in Kenya.
Learn more about foreign company registration
If you are planning to come to Kenya to set-up your company formation, you will need to apply for Class G visa (Business Visa).
It is meant for any person who is looking to enter Kenya to carry out business activities. The visa is valid for three (3) months only. Issued at a cost of $51 by the government.
Learn more about Single Entry Visa
In America, there are Kenyan embassies where you can make your visa application. However, if you are visiting Kenyan for not more than 3 months, you can be able to apply for a visitor visa on arrival at the airport.
There are different types or classes of work permits available in Kenya. For business owners who have registered their companies in Kenya and are looking to work in Kenya, they will need to apply for Class G permit which is valid for two (2) years and subject to renewal.
Learn more about Work Permit
This is a document for foreign nationals which enables them to have an ID recognized by Kenyan government institutions and gives access to services such as KRA PIN and applying for a work permit, opening a business bank account, applying for Company KRA PIN, making tax returns and much more.
Learn more about Alien ID Card
This is the most important document your company must obtain to do any business in Kenya. Kenya Revenue Authority (KRA) PIN can be used to open a business bank account, perform tax returns on rental income, applying for Government tenders, purchase of land, buying and selling a property and many other business transactions.
You will need to get a certificate of conformity (CoC) before you export your goods to Kenya. This certificate will be issued based on meeting standards and guidelines from Kenya Bureau of Standards (KEBS).
We have launched our new ebook that will guide you to start, run and grow your own business in Kenya.
Our ebook covers in more depth all the crucial topics you need to start your business in Kenya, including;
You can proceed to make your order by filling in the form below;
Photo courtesy of tuttoamerica.it
The post A Guide For Americans: Here’s How To Register A Company In Kenya appeared first on Fenesi.com.
]]>The post How To Start An Energy Company In Kenya appeared first on Fenesi.com.
]]>In this article, I will discuss how you can successfully start the registration process for Energy Company in Kenya.
Before you venture into Energy Company in Kenya, it is essential that you understand the energy consumption pattern in Kenya and find out what type of energy is in more demand. As an entrepreneur, it is necessary to understand the pattern of demand so that you can plan out accordingly.
Kenya is mainly dependant on electricity for commercial and residential consumption. Therefore, the government is exploring ways to reduce the dependence on electricity and looking more towards green energy.
Once you have finalized about the type of Energy Company that you want to start, it’s time to name the company. A lot of things depend upon the name and hence it is important that you choose it depending upon the type of business you are in, in this case, Energy Company.
It is advisable to suggest at least two (2) company name so that you increase your chances of company name going through. Please ensure that your company name is unique, in order to have a better chance of approval. This will save you time and money.
Most name searches are carried out through eCitizen where you can check the availability of your company name. Once your company name is approved, it will be reserved for 30 days starting from the date it was approved.
Please make sure that your company name contains ‘Limited’ or ‘Ltd’ at the end, for example – Dealpoa Limited or Dealpoa Ltd. If you don’t indicate that your company is a limited company during the name search, you won’t be able to register your limited company.
Once your company name search is approved and reserved, you will be able to register your energy company. You’ll need to collect your requirements on company details and directors details that will be used to prepare the following company documents;
When the company documents have been generated, you’ll need to have it signed by each director, then Company Registry will process them and issue a certificate of incorporation and CR12 Letter.
If you are a foreigner looking to set up an energy company in Kenya, there are always additional requirements that you will need to comply with. In the process of company registration, there are four ways of setting up a foreign company as shown below;
You can see a full step by step guide for foreign company registration.
We are excited that you want to register your limited company and we are happy to get everything started so you can start trading soon. Here are the step by step guide on how we will assist you to register your limited company;
You will need to select which registration package you prefer;
Please download and fill this Requirement Form below with your information.
Click on this link to download the Company Registration Requirements Form [Word Version, 3 Pages, Size: 19.7KB]
Once you complete your company requirement form, you will need to upload it on the registration order below and submit your order.
Photo Courtesy of greentechmedia.com
The post How To Start An Energy Company In Kenya appeared first on Fenesi.com.
]]>The post How To Start Your Investment Company in Kenya appeared first on Fenesi.com.
]]>With this developments, there has been an increase in demand for investment companies that can facilitate the demands.
In this article, you’ll find information that will assist you with preparation in setting up your investment company.
The name of any business is most important as it tells all about the business. Hence, now, you have to choose the name of the business.
It is always advised to choose minimum two names so that when one is not available the other can be used. Please note that if you are registering a limited company, make sure that your company name ends with either ‘Limited’ or ‘Ltd’.
You can be able to perform a name search for your company through eCitizen to see if it is available. Once the name search result is approved, it will be reserved for up to 30 days. You’ll need to register your company within that period.
Before getting registered, Company Registration Form (Form CR1), Memorandum (Form CR2), Notice of Residential Address of Director(s) of Company (Form CR8) and Statement of Nominal Capital (Stamp Duty Form), has to be prepared.
These four (4) documents are important as they state about the scope of business, the shareholding of the company, among others. The article of association will describe the regulations of the company based on which it will run.
Once you’ve signed those company documents, Company Registry will process them and issue a certificate of incorporation and CR12 Letter.
If you are a foreigner looking to set up an investment company in Kenya, there are always additional requirements that you will need to comply with. In the process of company registration, there are four ways of setting up a foreign company as shown below;
You can see a full step by step guide for foreign company registration.
We are excited that you want to register your limited company and we are happy to get everything started so you can start trading soon. Here are the step by step guide on how we will assist you to register your limited company;
You will need to select which registration package you prefer;
Please download and fill this Requirement Form below with your information.
Click on this link to download the Company Registration Requirements Form [Word Version, 3 Pages, Size: 19.7KB]
Once you complete your company requirement form, you will need to upload it on the registration order below and submit your order.
Photo Courtesy of Born2Invest.com
The post How To Start Your Investment Company in Kenya appeared first on Fenesi.com.
]]>The post How To Start A Restaurant Company In Kenya appeared first on Fenesi.com.
]]>There are many types of restaurant company and each type has its unique concept. The types of restaurant include; ethnic, international (French, Spanish, Turkish etc.), fast food, casual dining, family style, café, bar, food truck, and so on.
In this article, we will outline the necessary procedures on how you can register your restaurant company.
To begin your company registration for your restaurant business, you will need to come up with a company name suggestions that will need to be submitted on eCitizen to carry out a name search.
Name search process usually takes around 2 working days or less. Once the company name search is approved and reserved, you can now be able to begin your company registration process.
You will need to collect your requirements needed to generate your company documents. We can assist you with the preparation of company documents that we will send to you with instructions on how to sign them so we can submit them to company registry for processing.
Upon approval from Company Registry, your company will be issued with a certificate of incorporation, memorandum, CR12 letter among other documents.
You will need to consider getting a company KRA PIN for your restaurant so you can be able to open a business bank account, perform tax and vat returns, acquire a business permit. Once you get your company PIN, you will need to activate the VAT obligation if your revenue is Ksh. 5,000,000 per year.
The next step that you will need to take is secure an ETR machine in which you can have it configured to enable your business to process all your sales and issue customers with receipts. ETR machine will keep a record all the VAT transaction and you can use that information to make your monthly VAT returns.
It is advisable that you find an accountant who can help you make the accurate calculation. All VAT returns needs to be done before 20th of every month, failure to do so will expose your business to penalties from Kenya Revenue Authority.
Another important piece of information that you need to know is that any sales between Ksh. 500,000 – Ksh. 5,000,000 will incur a catering levy of 2% in which needs to be paid before 10th of every month to KRA.
Rules and regulations vary from county to county when it comes to the opening times of your restaurant business. It will depend on which type of license you have acquired from the county government. For example, in Nairobi, bars are not allowed within proximity of residential houses.
To apply for a business permit for your business, it all depends on which county you intend to operate your business in. Some counties such as Nairobi and Mombasa counties have embraced online platforms where businesses can apply and renew their business permits. To get more information, check your respective county government’s websites.
Foreigners can also be able to register their restaurant businesses in Kenya. However, there are several options that a foreigner can be able to choose from when forming their company.
Here are four ways of setting up a foreign company as shown below;
You can read further details about the step by step guide for foreign company registration.
We are excited that you want to register your limited company and we are happy to get everything started so you can start trading soon. Here are the step by step guide on how we will assist you to register your limited company;
You will need to select which registration package you prefer;
Please download and fill this Requirement Form below with your information.
Click on this link to download the Company Registration Requirements Form [Word Version, 3 Pages, Size: 19.7KB]
Once you complete your company requirement form, you will need to upload it on the registration order below and submit your order.
Photo Courtesy of www.franchiseindia.com
The post How To Start A Restaurant Company In Kenya appeared first on Fenesi.com.
]]>The post How To Start A Sacco Company In Kenya appeared first on Fenesi.com.
]]>For the individual it’s an effective way of saving and quick and cheap means of raising capital; and for the Sacco as an entity there is power that comes from having members and regular income from contributions.
Sacco Societies Regulatory Authority (SASRA) report shows 175 registered and regulated Saccos with a combined asset value of Ksh 393 billion shilling as of 2016. With such figures, it’s no wonder many people want to get in on this thriving field.
So how does one get to register a Sacco.
You will need to propose a Sacco name that will be approved by Cooperative Society Department in Sheria House subject to availability.
Upon approval of the name, a Sacco registration form will need to compete with details of all the board members and members including proof of identity documents, physical address of all members.
We highly advise you to visit the Cooperative Society Department to get the comprehensive information, fees, application times and form and resources need to complete your registration.
If you intend on taking deposits from your members/customers, you will be required to obtain a license from SASRA. SASRA is mandated by section 24 of the Saccos Societies Act 2008 to license and regulate the operation of Deposit Taking Saccos. Approval of your license to operate from SASRA can take 4 months and above.
Non-deposit taking saccos are exempt however, there are other requirements to meet depending on the intended area of operation.
Numbers of members at registration is dependent on sector:
Once the above steps are completed, you should receive a Certificate of Registration from the Registrar. This will enable you to acquire Sacco Bank account, other business permits, NHIF and NSSF, tax arrangements.
Here is to your success in getting your Sacco registered.
We currently do not offer SACCO registration services at the moment.
Image Courtesy of buildcommonwealth.org
The post How To Start A Sacco Company In Kenya appeared first on Fenesi.com.
]]>The post 5 Useful Tips On How To Get A Bank Loan For Your Transport Business appeared first on Fenesi.com.
]]>If you are looking to request for a bank loan, you will need to make sure you have the expertise in the transport industry in order to bring confidence to the lender and also you will need to give a collateral through your personal assets to act as a security for the loan. The value of security needs to be more than the amount being borrowed. Without it collateral, your chances of getting a bank loan is less likely.
The bank will expect you to provide financial plan on how you will use the borrowed money and how you are going to make the repayment to avoid any defaulting on payment.
Creditworthiness
You need to know that banks tend to perform a credit record search to check your creditworthiness before lending you the money. So if you have business partners whom you are starting the business together, then their credit records will also be checked before the approval of the bank loan. Make sure that you are in touch with your bank and see how you can improve your credit record that will enable you to have a better chance in getting the loan.
It also helps if you have a business partner who will also use their personal assets as part of the borrowing.
Documentation
Perform your research on what documents you require to provide the bank and collect them in advance so to make a good impression on the loan officer.
Some banks require proof of contracts secured before they lend you money, also known as LPO financing. This is usually hard for those just getting started in their transport business, but if you secure a contract whether in Government or private sector, this will be an advantage for you.
Cash Flow Forecast
Make sure you know how much money you want to borrow. Don’t just say between Ksh. 1,000,000 – Ksh. 5,000,000. Be specific and show the bank that you even know all the cost that you will incur when starting your business, use your cash flow forecast to back-up your pitch.
Resources for Government Funding
Here are some various financing facilities provided by Kenya Government to small medium enterprises businesses;
Photo Courtesy of Silent IVM
The post 5 Useful Tips On How To Get A Bank Loan For Your Transport Business appeared first on Fenesi.com.
]]>The post Funding Your New Business Idea appeared first on Fenesi.com.
]]>Depending on where you reside you may qualify for a government grant to subsidize your business. Upon finding your regional government website, you will be required to fill out some forms online to see if you match existing criteria. These grants are typically designed to serve the interests of the district or region as a whole through addressing issues of distribution be it population density, or the offering of general assistance to those who would otherwise find it difficult to qualify for a bank loan. There are grants available to youth and there are also screening processes that accompany them.
Many successful small businesses in North America and beyond were established through partnerships with family members or trusted friends. These partnerships were typically established through common workplace relationships, interests and/or goals. This may be a viable option where you would be able to pool your resources with a trusted individual or individuals without risking excessive debt. The downside to these relationships is that the introduction of a new business dynamic can lead to unforeseen conflicts and drama that interrupts the flow of business at best and tests family relationships and friendships beyond their limits.
The emergence of social media has given rise to Crowd funding which may allow you access to people with money who love your business idea and want to offer their support. Generally they would want some form of compensation in the future. At this point it would be up to you to prove that your business will be successful. Funding platforms exist for different causes, such as raising money to help someone in trouble. An informal way to raise funds through crowdfunding would be to post your business idea on social media with an account number or contact for those interested in finding out more, possibly contributing.
The more formal way would be through finding a Venture Capital organization or Angel Investor who would be interested in offering backing. There are legitimate websites that offer a list of potential investors in North America who invest in business ventures be it to profit directly from something new that may have huge growth potential or because they want to help establish or increase the sustainability within their region. Some organizations will only provide assistance if you live within a certain radius of their area. You may be required to sell your idea through “cold contacting” the members on these lists and having a very detailed and far-sighted business plan in place that they can view and assess. If and when these organizations contact you it’s your responsibility to make sure that you thoroughly appraise and investigate them to make sure that they are who they say they are. Screening people you meet on the internet, especially in large numbers, is never fail-safe.
Online investing is an option worth considering as, depending on what you invest in, you may have the power to leverage your money and compound your profits through a market price move, be it up or down in a remarkably short amount of time. Diligent monitoring of market movements and stop losses, along with other enlightened strategies can produce a strong source of funding. Several Broker/Dealers offer a wide selection of instruments to trade whereby you will be able to leverage your funds. CMC Markets will also allow you to open a free demo account where you can try simulated trading without using real money. This is a very valuable education as it enables you to test your knowledge and fine tune your trading strategies in advance. It also offers educational tools to set you on the path to successfully creating a new stream of cash flow, provided you set aside a bit of time to make it work for you.
How will you use your resources? Depending on how much drive and personal determination you have, the wind in your sails will take you as far as you decide to allow it.
The post Funding Your New Business Idea appeared first on Fenesi.com.
]]>