A business license is a fundamental requirement for any business you are conducting. Most of the time, if you have a license, the government knows that your business is legal, so they are less likely to bother you. In addition, with a business license, you will be able to reach a very large audience of buyers and sellers all over the country. But the question is, how can I get a business license in Kenya? Keep reading to find out more about that.
Here is a step to step procedure on how to get a business license in Kenya
1. Get a business permit application form and fill it
2. Provide the certificate of incorporation
3. Provide the company PIN certificate
4. After the provision of the PIN certificate, you will be required to provide an approved business permit application form
5. Submit the permit payment invoice
6. Pay the license fees and obtain the business permit.
How Much Does a Business License Cost in Kenya?
The cost of a business license in Kenya ranges from Ksh 200 to Ksh 20,000 on average. The variation in those prices is due to the levels of application.
For example, the application fees will vary based on the size of the business and the number of employees. The amount for smaller businesses will be lower than that for larger ones.
How Much Is Mpesa License?
Typically, Mpesa license costs Ksh 200,000 to Ksh 300,000 on average. Usually, Ksh 100,000 is required for float, the other Ksh.100,000 for SIM replacement cards and Ksh 100,000 for additional outlets for float.
With the prices mentioned, you can run a Mpesa smoothly and with fewer problems.
Maybe you are wondering how much it cost to register a small business in Kenya? Well, the cost of registering a small business in Kenya will range from Ksh 950 to Ksh 10,650 on average. The prices vary depending on the services and the type of business you are registering.
How Do I Register My Small Business in Kenya
To register a small business in Kenya, you will need the following:
1. The company or business name of your proposal
2. The objectives of the business that you want to register
3. Details of the directors, that is, their names, email addresses and contact details
4. Proof of identification
5. KRA pin
6. Passport photo
7. The company registration form (form CR1)
8. The memorandum of the company share capital (form CR2)
9. Statement of nominal capital by all directors
10. The notice of registered form (form CR8)
Types of Business Licenses in Kenya
Here is a list of four types of business licenses with their respective fees:
1. Small trader, shop or retail service ksh.2,000
2. Medium trader, shop or retail service ksh.4,000
3. Large trader, shop, retail store or personal service ksh.8,000
4. Mega store, hypermarket ksh.90,000
How Do I Get a Trade License in Kenya?
1. Visit the official trade license website
2. Fill in the required forms and submit
3. Fill in the application and attach the required documents
4. Pay the required application fees and attach the payment receipts to the application documents
5. Submit the forms for approval
6. The board will review the application
7. If the review is successful, the applicant will be given instructions on when to collect the certificate
8. Note that the entire process takes a month for it to be fully complete
Is Business Permit Same As License?
No, a business permit is different from a license. Usually, a license is given to allow a business to start operating. On the other hand, a business permit is given to workers to allow them to work in a given industry or company.
Getting a business license in Nairobi is fundamental, especially when running a certain type of business. For instance, the license will play a critical role in protecting your business. This means it will certify the business as legitimate to run across the country.