Businesses to Invest in Kenya – Kenya is a good place for both Native and Foreign Entrepreneurs . The economic survey of 2018 has estimated the economy to have expanded by 4.9 percent in 2017 compared to a revised growth of 5.9 percent in 2016. When it comes to Businesses to Invest in Kenya many people give priority to the most Profitable Opportunities available. This blog focuses on such areas in no order of Preference or Profitability.
Agriculture is the mainstay of the economy and provides approximately 75 percent of the population. Right now the concept of agribusiness has a lot of potential investors channeling resources. In 2017 alone the sector contributed Kshs2.3 trillion to the economy. The sector ranges from rearing Chicken, Rabbits, Growing wheat to taping into the Export produce such as Avocados, Tree tomatoes fruits among others. The secret of agribusiness is to go beyond the orthodox Crops and livestock. One also need to invest in the farm so as to maximize on the returns. Also critical is that one seeks the services of experts for direction on the best practices and technical support.
With the Rapid population growth there is huge demand for housing in major cities around the country. This has led to the coming up of towns surrounding the cities and hence increased demand for residential housing. Opportunities for investment exists particularly in the area of upgrading slums and informal settlements, urban renewal, construction of middle and low income housing, manufacture and supply of building materials and components.
With the government making ICT a priority in its economic recovery strategy initiatives and the increased rates of e business and mobile transactions, there has been an increased demand for ICT related service providers in Kenya. Mobile phones are now abundant in Kenya and with devices changing constantly the demand for the latest phones and accessories will keep this sector growing. Internet access has improved as the population is getting more tech savvy. Areas in which investors are keen to look at are Data recovery, Online services, Electronic Gadgets, Software Development, Education and Training.
There are limitless Businesses to Invest in Kenya however this are just the top most sectors that one can look into. If you are looking for more areas to invest in you can Contact Us us for a feasibility study or Market Research.
Foreign Company Registration in Kenya – Are you looking to start up a Business in Kenya? Here is a checklist to help you start a Business in Kenya as a foreigner. This will help you avoid the many Pitfalls that you might come across.
What is in a Business/Company Name? A Business Name can make a very big difference on how well you are able to penetrate the market. Business & Company Names make a significant impact on Branding and Marketing of any company or business hence it’s very important to choose an Appealing Name. The name of your Business can be your own personal name or a “fictitious” name. It is important to note that the name should also be available for reservation.
You will want to ensure that your Chosen Name is not trademarked or used as an Internet Domain name by another entity. If you choose to do business as your legal name, this shouldn’t be a problem.
Under the Companies Act 2015 the start-ups are now provided with standard Articles which can be adopted by a company. However, Articles to Supplement or Modify the Standard Articles may be provided. It takes 12 days on average to complete the whole registration process. Once your Company/ Business Name is registered it can’t be registered by anyone else; and if another entity uses this Name, it will be easier to take legal action.
The Pin Numbers are issued to every individual and Companies Operating in Kenya for the purposes of Transacting Business with Kenya Revenue Authority, other Government agencies and private Companies in Kenya
Business location can also determine how well your Company/ Business performs. If you are setting up a Small Consultancy firm, you can rent an Office Space in one of the Serviced Office spaces Available and it is a large or medium Manufacturing company, you can lease space in the Industrial Area or choose to lease Land and set up the structures yourself.
This will involve Processing of all the Relevant Business licenses like the Business Permits form the local County Council, Manufacturing and Quality Standard Licenses from the Kenya Bureau of Standards, an Environmental Licenses from the National Environmental Management Authority and Lastly you will need to Process Work permits for the foreigners in the Company From the Department of Immigration and registration of Persons
This is very essential to operate your Accounts Receivables and Payables. You can choose a banking partner from over 40 Stable Local And International Banks in Kenya with reliable Internet Banking Solutions making it easy for you to Bank From whichever part of the region you are in.
Lastly, you will need a reliable workforce to help you realize your Business/Company Objectives. The Workforce in Kenya is generally educated and Pro Active hence you can easily train the Human Resource on how you want to run your business.
Click here to find out more on Foreign Company Registration in Kenya
Simple Steps on How to Register a Company In Kenya –
To Register a Company In Kenya You only need to Follow the Following Simple Steps. The Process is Equally Simple for Both Local and Foreign Directors.
1. We Meet you and get to Understand your Business
2. We Receive Official instructions and Registration Documents from the Client.
3. We Conduct a Name Search and prepare the Registration Forms
4. The Client Signs All the Registration Forms
5. Company Registration is Approved and Client receives the Incorporation Certificate and Form Cr12
6. KRA PIN, NHIF, NSSF Registration and Bank Account Opening
7. Client Receives all the Company Registration Documents
Click here to Read More about our Company registration Services.
New Company & Branch Registration Process in Kenya for Foreigners – Are you looking to start a Business in Kenya? Here are the guidelines that you would need to know.
There are two ways for you to register a company as a foreigner, one as a limited company and the other as a subsidiary company.
For a limited Company (LLC) / Subsidiary
The new procedures now allow a single person to register a limited Company as a Foreigner; this means you do not need a Kenyan director to co-own the company with you. You can own the company 100%.
The Registration process is as follows:
First you have to avail at least 3 names on which we are going to conduct a Name Search to ensure that the name is available for you. If the names are available we will continue with the process, which includes you providing the following
1. Copy of your valid Travel Passport
2. Passport size Photo
3. Telephone Number, Physical, email and Postal Addresses of the Directors
4. Occupation of the Foreign Shareholder(s)
5. Shares apportionment percentage incase the company has More than 1 Director.
Once you have all the requirements we go ahead and fill in the CR1, CR2, CR8 and the statement of nominal capital, which you are required to sign and send back to us to finish the process.
If the process is successful you will be issued with a Certificate of Incorporation and CR12. You will use the certificate of incorporation to register with the Kenya Revenue Authority for the company Pin number.
Registering a Branch Company
A Branch Company is an Entity that is not any Different from the Parent Company with a Name and Activities Exactly as the Parent Company and its Liabilities extends to the Parent Company. In Short, A branch is just an Extension of the Parent Company.
The process of Registration is similar to the limited Company mentioned above however you would need to avail the following documentations.
1. Certified copies of the parent Company’s Certificate of Incorporation
2. Certified copies of the Charter, Statutes or Memorandum and Articles of Association of the parent Company
3. List of the Directors of the Parent Company giving the following particulars: Full Names, Postal address, Nationality and Business Occupation
4. Name(s) and Postal Address of one or more persons resident in Kenya authorized to accept service on behalf of the company.
5. Full address of the Registered or Principal office of the parent company.
6. Full address of the place of Business in Kenya.
If the process is successful you will be issued with a Compliance Certificate. You will use the Compliance Certificate to register with the Kenya Revenue Authority for the company Pin number.
Kindly Click on this link to read more on the differences between Branch and Subsidiary