Business Name Registration Kenya

3 Powerful Tips for Successful Business Registration and Search in Kenya: Ignite Your Entrepreneurial Journey with Confidence!

 
Business Name Registration in Kenya is referred to as Sole Proprietorship or  BN2. Partnerships and LLP’s registration is done under the Business Names Registration Act Kenya
 
The Business Registration Services Act 2015, established the Business Registration Service (BRS). to streamline effective administration of the laws relating. to the incorporation, registration, operation and management of companies, partnerships and firms.
 
 

Registering a Sole Proprietorship in Kenya

 
A sole proprietorship or a business name  is a business entity owned by one person. Business  in these category are small and medium-sized enterprises. Below are steps to follow when registering a sole proprietorship business in Kenya.
 

How To Register A business  In Kenya online

 
Create an eCitizen account
 
This requires you to be above 18 years of age, have an ID number, mobile number, and a working email. Have a stable internet connection, then create an account .
 
A. Business name registration search letter Kenya
 
To register a business name, the applicant must propose three names. The names are reserved pending the business registration. Application for reservation of a Business Name. should be made in writing and the prescribed fee paid.
 
B. Application Form BN 2
After name search approval is complete. The applicant should fill BN 2 Form and lodge with Registrar of Companies Kenya
 
C. Business Name Registration Certificate
 
BN 3 is processed and issued thereafter

 

Requirements for Business Name Registration in Kenya

 
 
  • The nature of Business / activities the business will undertake.
 
  • Names of the Proprietor/s in Full.
 
  • Postal address for the Business Name.
 
  • Proposed Physical address of the Business. Address includes road, plot number, town, county.
 
  • Copy of ID / Passport of the Proprietor or Partners.
 
  • Passport photo of the Proprietor/s.
 
  • Copy of PIN certificate of the Proprietor/s or partner/s.
 
  • Send us an email including the above requirements to info@companysecretariesafrica.com
 
Other Business Services offered:
 
  • Change of Business Name
 
  • Change of Business particular and details
 
  • Removal or appointment of partners and members
 
  • Cessation of Business Name registration
 
 
 
  • Foreign NON Governmental Organization (NGO) Registration
 
  • NON Governmental Organization (NGO) Registration – Local
 

How to Register a Partnership Business Name in Kenya Online

 
Partnership business involve two or more people who share ownership. Each partner contributes to all aspects of the business. Profits and losses are shared among the partners. That is according to the agreement on the partnership deed. Partnership business registration process is like sole proprietor. Only that in partnership business a partnership deed is provided.
 

Partnership business name registration in Kenya:

 
The following are steps for registering a partnership in Kenya.
 
  • The partnership deed contains the following particular
 
  • The name of the firm or partnership
 
  • The names and addresses of partners
 
  • The nature or type of the business
 
  • The duration of partnership.
 
  • The amount of capital to be contributed by each partner.
 
  • The amount and nature drawings that can be made by each partner.
 
  • The interest to be allowed on capital and charged on drawings.
 
  • Rights and responsibilities of partners.
 
  • Duties of partners.
 
  • payment to partners.
 
  • The ratio of the profits or losses shared among the partners.
 
  • The basis and rationale for the calculation of goodwill during the Admission. Retirement, and death of a partner.
  •  
  • The keeping of proper books of accounts and the preparation of Balance Sheet.
 
  • Settlement of amount upon the dissolution of the firm.
 
  • The procedures and processes to be adopted in the case of disputes among the partners.
 
  • Arbitration clause in case of dispute or disagreement.
 
The advantage of  Partnership business name registration. Compared to sole proprietorship is that in partnership. You can apply for any tender without much restrictions as your business has a KRA pin. Cost of registering a Partnership is minimal. Sole Proprietorship does not have a business KRA pin but uses personal KRA PIN of the owner.
 

Registration of Limited Liability Partnership in Kenya (LLP)

 
Section 2 of the Limited Liability Partnership Act, Chapter 30A. Stipulates a Limited Liability Partnership (LLP) as one registered under the Act. whereas the Partnership Act No. 16 of 2012 defines a partnership as the relationship which exists between persons. who carry on business in common with a view of making a profit. It is termed as LLP registration Kenya.
Currently there are three forms of partnerships in Kenya. A general partnership, a limited partnership and a limited liability partnership.
 
A LLP is formed, under section 17 of the Limited Liability Partnership Act. Done by submitting Statement of Particular with the Registrar of Limited Liability Partnerships.
 
Under the LLP Act, that the Registrar of Companies is appointed to act as the Registrar for LLPs. Upon registration, a limited liability partnership becomes a body corporate. Acquires perpetual succession and a separate legal entity personality from its partners. Thus any change in its partners does not affect the existence, rights or its obligations.
 
 a general partnership is governed by the Partnership Act, Act No. 16 of 2012 while being registered under the Registration of Business Names Act. Upon registration, a general partnership does not become a body corporate.
 
The limited liability partnership, under section 7(2) of the LLP Act. Is required to maintain and use a common seal that bears its name. to be utilized to execute all documents that are required by law to be sealed by it.
 
Under section 22 of the Partnership Act. The liability of a partner in a general partnership is unlimited. A partner is liable for the whole amount of any obligation incurred by the partnership. While he is a partner. Their personal assets could settle business debts if /when becomes necessary.
 
A limited partnership has two types of partners, general partners; and limited partners. The liability of general partners is unlimited. The liability of a limited partner is limited to the extent of the amount contributed by the partner. at the time of joining the partnership.
 
The liability of all partners in a LLP is limited. A partner is not liable, for the partnership’s obligations. arising in a contract, tort or otherwise. Also, a partner in a LLP is not liable for the wrongful act or omission of another partner of the LLP. The liabilities of a LLP are from the property of the LLP and from the personal assets of the partners.
 
The liability of partners of a LLP differs from. the general partnership and the limited partnership. The liability of a limited partner in a limited partnership is like that of a partner of a LLP. The difference between a LLP and a limited partnership is that. the latter is required to have general partners. so that the liability of all its partners is not limited like the LLP.
All partners in a general partnership have the entitlement. to take part in the management of the partnership business.
 
In a limited partnership all general partners. can take part in the management of the business. But, a limited partner is prohibited under section 58 (1) of the Partnership Act. from taking part in the management of the business of the partnership .
 
A LLP is required to have a manager to manage the day-to-day activities of the business. A LLP is said to be a quasi-partnership.
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