Kenya Overview
Business leaders considering market entry into Kenya require a clear perspective on the operational, regulatory and employment requirements for a successful take-off. Here’s what you need to know…
Capital: Nairobi
Area: 582,646 sq. km
Languages: Kiswahili, English
Life expectancy: 62.08 years
Population: 53.01 million
President: William Samoei Ruto
Type of Government: Unitary republic with multi-party democracy
Time zone: GMT + 3
Currency: Kenyan Shilling (KES)
Calling code: +254
Economic drivers: In 2021, services contributed about 54.41% to the country’s GDP, followed by agriculture at 22.43% and industry at approximately 16.99%.
Investment potential: Kenya is the 4th largest economy in Sub-Saharan Africa, and the World Economic Forum’s country competitiveness report ranks it number one (1) in Africa in quality of human capital and availability of research and innovation. The country also has one of the highest rates of internet access in the continent, with 72% of its population having internet access.
Sources: Demographic yearbook by the UN Statistics Division, Kenya High Commission United Kingdom: Why Invest in Kenya and The Land of Unlimited Possibilities
What we offer
Company set-up support
Forms of Incorporation
The Companies Act of 2015 acknowledges several types of companies, which include:
- Companies limited by shares (either private or public)
- Companies limited by guarantee
- Unlimited companies
- Foreign companies
Foreign investors commonly establish a presence in Kenya through two methods: registering a branch of a foreign company (Foreign Company) or incorporating a local company. The latter option is more prevalent due to the advantages of separating the subsidiary from the parent company and the familiarity of regulators with this setup. Licensing procedures for subsidiaries are often easier compared to branches.
- Incorporation of subsidiary companies (Limited liability companies)
Our support includes undertaking name reservation, preparing the required documents, executing incorporation papers and submitting applications to the Registrar of Companies.
- Registration of branches
Our support includes advising on requirements, preparing the required documents, arranging for execution, filing and obtaining registration.
- Beneficial ownership disclosures
Every company must identify and maintain a register of its ultimate beneficial owners, and submit their details to the Registrar of Companies. Adili is at hand to offer support in complying with regulations around business ownership disclosures.
- Registration with the Kenya Investment Authority
This is a government agency that is mandated to promote and facilitate investment in Kenya by both domestic and international investors. During this process, one is expected to submit a request letter introducing the investor and the company to be issued with a PIN, a letter from the investor appointing the tax agent and an acceptance letter from the tax agent to the investor consenting to the appointment. It is also at this stage that the company presents bank statement(s) of the company/ shareholder(s) of the Kenyan entity with at least a balance of USD 100,000.00 or its equivalent in another currency and a project proposal of USD 100,000.00 of investment, or its equivalent in another currency.
- Company tax registration
This process involves registering non–resident director(s) on iTax. The requirements of this process are a notarized copy of the director’s passport, the postal and physical address, their telephone and email address and a coloured passport-size photograph.
- Application for Value-Added Tax (VAT) certificates
We offer support in applying for VAT registration numbers and acquiring Value Added Tax (VAT) certificates. We also facilitate the purchasing and registering of electronic tax devices.
- Registration with the National Social Security Fund (NSSF), National Hospital Insurance Fund (NHIF) and National Industrial Training Authority (NITA)
Our services include facilitating the registration process, following up on the applications, and ensuring that the registration certificates are issued. Additionally, we also help companies register their employees with the NSSF and NHIF subject to different agreements.
- Set up of statutory records
We offer support in preparing and issuing share certificates, preparing the first minutes and inaugural resolutions, establishing member registers, registers of directors and registers of secretaries, and purchasing company seals and stamps.
- Assistance in opening company bank accounts
Our work includes preparing the necessary board resolutions and extracts for opening bank accounts, gathering supporting documents, and providing any required company secretary certifications requested by banks.
Regulatory compliance
- Application for business licenses
It is mandatory by law to acquire business licenses before commencing any business activities. Our team is available to offer support throughout the business license acquisition process, which involves:
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- Collating the required company documents and making business license applications.
- Facilitating the assessment and payment of the license fees.
- Following up and collecting licenses.
Employment and immigration matters
- Immigration support services
We provide professional immigration services based on the latest related country’s immigration laws, professional advice and guidance on the requirements and procedures.
- Payroll services
We offer end-to-end payroll services, supported by top-of-the-line technologies that are key to efficiency and compliance in any organisation.
- Accounting & bookkeeping services
We offer efficient, scalable, and cost-effective accounting and bookkeeping services, designed to seamlessly plug into your business systems. We take care of your accounting needs using reliable accounting systems and reporting tools. Our package comprises a dedicated team of professionals to provide end-to-end accounting services that match your needs.
Planning your market entry strategy
Talk to our experts
Adili Corporate Services Kenya,
ALN House, Eldama Ravine Road, Off Eldama Ravine Close,
Westlands, Nairobi.
P.O Box 764, Sarit Centre, Nairobi, Kenya, 00606
Tel: +254 709 676 000
Email: info@staging.adili.africa
