QUICK STEPS ON HOW TO REGISTER YOUR SOLE PROPRIETORSHIP FASTER?
- A Sole Proprietorship, is an unincorporated business entity in which one person owns all the assets and assumes all the debts of the business.
- The Sole Proprietorship is registered in the name of the individual proprietor and wholly owned and operated by that same individual.
- Unlike a company, a sole proprietorship has no separate legal identity from its owner and cannot own or dispose property neither can it sue nor be sued in its own name.
- A sole proprietorship in Kenya is registered as a business name under the Registration of Business Names Act, Chapter 499. The Act provides that all firms, individuals (“sole proprietorships”) and corporations are to be registered under the Act.
STEP BY STEP PROCESS OF REGISTRATION
- Registration involves the delivery of a signed Statement of Particulars to the Registrar of Business Registration Services, the particulars contain the following, namely:
- the business name;
- the general nature of the business;
- the full address of the principal place of business and the postal address of the individual;
- the full address of every other place of business (if any);
- Details of the individual such as name, nationality, age, sex, residence and any other business occupation; and
- the date of the commencement of the business.
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- Upon the successful registration of the sole proprietorship, the Registrar will issue the individual with a Certificate of Registration.
- In the event that the Sole Proprietorship makes any changes on the statement of particulars, the Registrar will also issue a new Certificate of Registration to reflect the same.
- Currently, the registration of sole proprietorships is done online using the Business Registration Service found in the eCitizen platform.
How can we assist you?
At Netsheria International, we have an experienced team of lawyers who can offer you legal assistance on setting up your business entity and assist in your other business needs after the registration process. For more information, you can go to our website www.netsheria.com.
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