Public Limited Company in Kenya
A public limited company is limited by shares and has no restrictions on the maximum number of shareholders, share transfers, or public deposit acceptance. Each shareholder’s responsibility is limited to the unpaid amount of the share face value plus the premium thereon in respect of the shares he owns. The responsibility of a Director / Manager of such a Company, on the other hand, can sometimes be limitless.
A public limited company is listed on a stock market and has its shares/stocks publicly traded. The company has a separate legal existence from the individuals that make up its membership.
All of its actions, from their inception to their completion, are governed by tight rules, laws, and regulations. The business must have at least seven members, but there is no limit to the number of members it can have.
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Public Limited Company registration conditions
A member of a corporation’s responsibility is limited to the face value of the shares he owns. He is under no obligation to contribute anything to the company’s creditors once he has paid the full amount.
Timeline
The Kenyan government will review all of the forms you’ve submitted, produce scans and copies, and register your firm with the KRA in about a week. The business certificate will be uploaded online in your eCitizen portal once everything has been authorized and your business has been formally registered.
Fees
It costs around 107 dollars to register Public Limited Company. Contact us to discover our incorporation fee.
Compulsory regulation
A company’s shareholders do not have the right to engage in the day-to-day management of the company’s operations. This ensures that ownership and management are kept separate. The Board of Directors has ultimate decision-making authority in a firm, and all policy decisions are made by majority vote at the Board level.
Documents
Documents and details required to be prepared in order to register company:
- Board of Directors and Shareholders’ Names,
- A brief description of the prospective company’s purpose,
- Company’s Authorized and Subscribed Capital,
- Proposed company’s registered office address in Kenya,
- Shareholders’ and directors’ addresses, proof of identity, and pictures (duly notarised in case of foreign Individuals).
Consultation about Public Limited Company registration
Our expert guidance solutions are designed to help and advice your company in achieving its goals. Our data-driven research can help you optimize your productivity potential. We offer a variety of solutions, including problem solving, and budget planning.
Accountancy
Kenya’s corporate financial reporting, accounting, and auditing standards are governed by the Companies Act 2015, which abolished the updated 2009 version of the Companies Act Cap 486 of 1948. The Act stipulates that all businesses must compile and present financial statements, as well as the conditions for their creation, publishing, audit, and inspection.
Taxes
Kenya’s tax system includes income tax, VAT, customs duty, and excise duty. The taxation system is governed by independent legislators. The main legislator, the Kenya Revenue Authority (KRA), has various sections that deal with the aforementioned taxes, as well as the authority to conduct reviews on various companies and corporations. The system’s major purpose is to reduce corruption, which is a concern in developing countries like Kenya.
Bank account
In order to establish a company bank account in the Kenya, the bank needs an identity document, proof of residence and proof of income.
We offer bespoke company registration services to our clients.
Other legal forms in Kenya
You have the following alternatives when forming a corporation in Kenya:
- Private Limited Company,
- Branch Office,
- Holding Company.
Each of these company structures has its own set of benefits and drawbacks, as well as different business scopes, registration processes, and minimum capital needs. In most circumstances, it will be determined by a company’s level of commitment to Kenya and the projected business activity.
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