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Legal structures and Compliance (Kenya)
- 1. LEGAL MADE EASY LEGAL STRUCTURES & COMPLIANCE
- 3. All the things to think about Business Banks & Debt Municipality Partners/ shareholders Regulators Assets Suppliers Clients LandlordEmployees Intellectual Property
- 6. Company Limited by Shares
- 7. General Information & Process ❖ Proprietors/Subscribers ❖ Objects ❖ Directors & Co.Secretary ❖ Shareholding of each shareholder ❖ Rights/Type of shareholding ❖ Date of start of business ❖ Address of company and directors 1. Name search and Reservation ecitizen.go.ke 2. Draft Documentation 3. Stamp Duty 4. File with Registrar 5. NSSF, NHIF & Tax Registration 6. Certificate of incorporation GET STARTED: uwakili.com
- 8. BN2 Registrations & Company Limited by Guarantee
- 9. Company Limited by Guarantee ❖ Business & proprietor unified identity ❖ Unlimited liability Process ❖ Proprietor details ❖ Nature of business ❖ Ksh 800 ❖ Business License Ksh 200 ❖ Separate identity ❖ Liability Limited by shareholder contribution Process ❖ Stamp duty Ksh 300 ❖ NIS verification ❖ Varied number of days processing Business Name Registration (BN2)
- 10. ❖Separate Legal entity ❖Limitation of liability ❖Exists in perpetuity ❖Own property ❖Sue & be sued independently Limited liability (LLC) Wins
- 12. Some new things to think about 1. Single Member Companies 2. Unrestricted Objects 3. Company Resolutions that affect company’s constitution must be filled within 14 days 4. 30% Kenyan by birth shareholding for foreign branch companies.
- 13. Compliance
- 14. 2 questions to ask ❖Which regulators are involved in my business sector? ❖What is my compliance record?
- 15. •Kenya Revenue Authority •City Council of Nairobi •Professional licensing •NSSF/NHIF •Registrar of Companies •Communications Commission of Kenya •Kenya Bureau of Standards Common Regulators
- 18. Basics of Leasing/Tenancy Agreements ❖Should be in writing ❖Clearly indicate the tenant and the landlord (if subletting who is the main landlord) ❖Clear statement of rent and when & how it should be paid ❖Conducive for the business activity e.g. noise levels, health e.t.c. ❖Responsibilities of landlord or tenant: security, cleanliness, water, electricity ❖Termination Notice Period
- 19. uwakili.com