Quick Answer: Can a foreigner start a business in Kenya?

Generally, Kenya requires that foreigners wanting to own, or run a business in Kenya to obtain a work permit from the Ministry of Immigration. The type of permit applied for will depend on whether the foreigner will be an owner of the business or simply an employee (to be elaborated further below).

What is required to register a company with a foreigner in Kenya?

To register it, the CR1, CR8 and Statement of Capital forms need to be filled, and a memorandum of the company and its articles of association should be drafted. The names, addresses, passport photos, KRA PIN certificates and a copy of their IDs, local or alien, of the directors and shareholders, are also required.

How do I start a business in Kenya?

Starting a Business in Kenya as a Foreigner

  1. Draft a Business Plan. …
  2. Get Business Assistance and Training (if necessary) …
  3. Choose a Location. …
  4. Determine the Legal Structure of Your Business. …
  5. Finance Your Business. …
  6. Register your.
  7. Register for Taxes. …
  8. Get your Business Licenses and Permits.

How can a foreigner start a business?

The steps to form your Foreigner-Owned LLC are:

  1. Select a State.
  2. Name your LLC.
  3. Hire a Registered Agent Service.
  4. File your LLC with the State.
  5. Create an LLC Operating Agreement.
  6. Get an EIN.
  7. Get a Physical US Mailing Address.
  8. Open a US Bank Account.
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Can a foreign company open a bank account in Kenya?

III.

To open a branch or subsidiary in Kenya of an existing foreign company, you will need to register for a Certificate of Compliance. You must provide a copy of your Certificate of Incorporation, a copy of Memorandum and a Company Tax Registration Certificate of the existing foreign company.

What is the most profitable business in Kenya?

Most Profitable Businesses in Kenya

  • Internet / Cyber Cafe’ store. A good number of people still visit cyber cafe despite the availability of cheap computers. …
  • Selling snacks at the office. …
  • Travel agency. …
  • Owning a fleet of Bodaboda. …
  • Cake making business. …
  • Mobile Money transfer shops & bank agents. …
  • Butchery. …
  • Photography.

How much does a business permit cost in Kenya?

How much do business permits cost? Using Nairobi County business permit rates, a single company permit for a company with up to 5 employees costs Ksh. 15,000. The amount is paid at the cash office within the county headquarters.

Can I live in the US if I own a business?

Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the US is the same as for a US resident. It is not necessary to be a US citizen or to have a green card to own a corporation or LLC.

What are the most successful small businesses?

Most profitable small businesses

  • Personal wellness. …
  • Courses in other hobbies. …
  • Bookkeeping and accounting. …
  • Consulting. …
  • Graphic design. …
  • Social media management. …
  • Marketing copywriter. …
  • Virtual assistant services. Finally, last on our list of the most profitable small businesses: virtual assistant services.
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How can a non US citizen start a business?

How to Start a Company in USA as a Foreigner

  1. Step 1: Register Your LLC. To start the process you need to work with what is known as a “Registered Agent”. …
  2. Step 2: Get a Physical Business Address. …
  3. Step 3: Apply for an EIN. …
  4. Step 4: Get a Bank Account. …
  5. Step 5: Get a Payment Processor. …
  6. Step 6: Set up a Bookkeeping System.
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