According to the Kenyan government, having a private company is not illegal. However, you will need proof that your company is legitimate and not committing fraud. With a registered company, you will have a lot of freedom and advantages compared to an unregistered company. In addition, you should be careful when registering with a legitimate registration organization. The question, however, is: how do I register my private company online in Kenya? Keep reading to find out more about that.
To register a private company in Kenya, there is a process that you have to follow. Here is a step-by-step guide on how to conduct the registration online.
1. Name Search
A company will always require a name so that people can easily identify it. So, before conducting the registration, a name search is very crucial. After the search, the name will have to be reserved by the registrar of companies.
2. Execution of Forms and Statement of Nominal Capital
After conducting a name search, forms CR1, CR2, and CR8 are executed. The statement of capital is also executed. Later, after execution, the form is signed by the subscriber and director of the company.
3. Application for Registration
After the execution forms and statement of nominal capital, the application forms are launched with the registrar for registration.
4. Issuance of Certificate of Incorporation
There is no registration or issuance of a certificate of incorporation. The process starts as soon as the forms and statements of nominal capital are signed.
5. PIN Application
After following the required steps, all you have to finalize is the PIN application. After you have applied for the pin, you will be given a specific period to get the pin.
How Much Does It Cost To Register A Private Limited Company In Kenya?
The cost ranges from Ksh. 900 to Ksh. 10,700 on average. A variation in these prices will depend on the services. For instance, a service such as registering a business name is cheaper than registering the whole company.
Can I Register a Company Online in Kenya?
Yes. You can register a company online in Kenya. In the current generation we are living in, things are done digitally. For example, registering a new company is usually done online through the eCitizen platform.
Can a private company be run by one person? Yes. One person can run a private company. Usually, it is called a sole proprietorship. That means that a single person is running that particular type of business. There is no offense if one person runs a private company. In addition, it is also legal according to the law.
How Do I Register a Company in Kenya?
Are you looking for information on how to register a company in Kenya? Usually, the registration process is very simple. All you will need to do is create an account at e-citizen by visiting their official website, ecitizen.go.ke. Afterward, you can search for a unique name, fill in the required information, pay the registration fee, and you are good to go.
What documents do I need to set up a company? Here are some documents that are fundamental when setting up a company:
1. Details of the shareholders
2. The registered office address
3. Details of the directors
4. Share capital information
5. The name of the company
Can I Run a Company Without Registration?
Yes. You can run a company without registration. It is, however, advisable that the company be registered to prove legitimacy. However, there is no offense in running the company without registering it.