A public limited company is publicly traded and has limited liability for its shareholders.
In Kenya, registering a PLC involves several steps that must be followed to ensure compliance with the relevant laws and regulations.
Choosing a Name
The first step in registering a PLC in Kenya is to choose a unique name for the company. This name must not be identical or similar to any existing company or business name registered in Kenya.
The Registrar should also approve the name of the Companies.
Drafting The Memorandum And Articles Of Association
The next step is to draft the company's memorandum and articles of association. These documents outline the company's objectives, capital structure, and other important details, such as the shareholders' and directors' rights and responsibilities.
Once the memorandum and articles of association have been drafted, they must be submitted to the Registrar of Companies along with the required fee.
The Registrar will review the documents and approve them if they meet all legal requirements.
Obtain A Certificate Of Incorporation
You will have to obtain a certificate of incorporation from the Registrar of Companies.
This certificate confirms that the company has been legally incorporated and can now conduct business in Kenya.
Register With KRA
After obtaining the certificate of incorporation, the company must also register for taxes with the Kenya Revenue Authority (KRA).
This includes obtaining a tax identification number (TIN) and registering for VAT and other taxes as required.
Bank Account
The company must also open a bank account for the company in the company's name. This account will be used to receive and make payments on behalf of the company.
Appoint Directors
Lastly, the company must appoint directors and shareholders and hold a meeting to adopt the memorandum and articles of association and elect the board of directors.
All documents, among them the memorandum of association, should be signed by at least two shareholders and two directors.
Summary
It is important to seek professional advice, such as a lawyer or accountant, to ensure that the process complies with the law.
It's also important to note that all documents, including the memorandum, articles of association and other forms, must be filed with the Registrar of companies and comply with the Companies Act of Kenya.
