A journey of a thousand miles starts with a single step. Many individuals would like to start their own companies in Kenya, but aren’t able to do so because they don’t know the procedure on where to begin.
Owning a Company is one of the few achievements an individual can accomplish in life. Companies are key employers of many Kenyans as compared to other facets of job creation. Employing other people to work for you means that you will have time to work less and earn more money.
An idea can be conceptualized into a startup, when one is conversant with the legal context to kickstart the registration process. First, ask yourself if your initiative is legitimate to operationalize in Kenya. Before starting a Company, seek to ascertain if it can offer solutions to people’s problems or improve their lives.
10 Commandments that Companies must obey to thrive
Even before thinking about establishing a company, there are certain rules that must be obeyed to succeed in the corporate world. Below are the rules that ought to be followed:
Before establishing a Company, have a vision and not be driven by greed for money.
Develop products or provide services which you believe there is demand.
Sell products and ideas that people like. Find what they love and incorporate in your products or services.
Seek to help other individuals improve on their lives as they bring value to your company.
Think big and start small and not vice versa.
Have an “enter strategy” where you begin by winning and not an “exit strategy” where you win when you terminate your services.
Ascent to the top to see the world and not climb mountains for the world to notice you.
Don’t ask what to do but focus on helping others achieve from what you are doing.
Find a team to work with and not a team to work for you.
Measure your wealth by the quality of time spent and not the quantity of money you make.
How to register a Limited Company in Kenya
Usually Company registration in Kenya is done online or by physically visiting Sheria House.
Visit the eCitizen online portal to register.
Fill the company registration form CR1 with the Company’s name and the location of its official business.
Fill the details of all directors and shareholders including uploaded scanned copies ID card/ Passport, KRA PIN Certificate and their recent colored passport photograph.
In the CR8 form, fill in the notification of directors’ residential address.
Finally fill in the statement of the nominal capital.
Requirements for Company Registration
The Company Act 2015 stipulates that a Company must have at least 1 director who must be 18 years or above.
Copy of National ID or Passport
Copy of the Kenya Revenue Authority (KRA) PIN Certificate.
At least Kshs.15000 registration fees.
The Company can be registered with one person acting both as a director and a shareholder. Upon completing all the requirements, the Company certificate can be downloaded from the internet or if the process was done manually it’s collected from Sheria House Company registration offices.
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