For most aspiring entrepreneurs, starting a sole proprietor company is more ideal. It is easy to setup and require less financial requirements.
In order to register a sole proprietorship company, an entrepreneur needs to meet the following requirements;
1. Name of Business – (A name search needs to be performed first as part of the registration process.)
2. Nature of business – you will need to explain what your business will be doing in a very short sentence.
3. Address of the principal place of business – (Plot No., Section and Name of Street or Road, Name of Building)
4. Postal Address
5. Address of any other place of business (Branch Office under the above name)
6. Full Names of you and any other partners – (You can also add more names if you are intending to run your business with more than one person)
10. Usual place of residence
11. Other business occupation
12. Signature on the document (usually at the back page of the BN2 Form)
Duration: 10 Working Days
Cost: Ideally, it should cost you Ksh. 1,000 if you do it yourself at the company registry, however we do offer to run this service on your behalf at the cost of Ksh. 3,500
That’s it, if you have the above information then you are now closer to meet the legal obligation to starting your business in Kenya.
Photo Courtesy of enterpriseconnect.gov.au