REGISTRATION OF A SIMPLE PARTNERSHIP
Partnerships in Kenya are governed by the Partnerships Act No. 16 of 2012 (the “Act”). A partnership is the relationship which exists between 2 or more persons who carry on business in common with a view to making a profit.
Partnerships can either be general or limited. General partnerships differ from limited partnerships in that the liability of all partners in a general partnership is unlimited and their liability extends to their personal property, while the liability of partners in limited partnerships is limited to the amount contributed by each partner, save for the general partner who has unlimited liability.
The partners in a partnership sign a Partnership Deed setting out the relationship between themselves such as the name of the partnership, nature of business, capital contributions, profit and loss sharing ratio, etc.
The Partnerships Act was amended through the enactment of the Partnerships (Limited Partnerships) Regulations, 2021 which provides for the registration and management of limited partnerships
The registration of limited partnerships is done by filing an application with the Registrar of Companies together with a signed statement of particulars.
If the Registrar is satisfied the application complies with the requirements for registration, he/she will register the limited partnership and issue a Certificate of Registration to the applicant.
How can we assist you?
We can advise you on setting up of the appropriate business entity for your business needs and assist in registration process. Please contact us for our services at info@netsheria.com or visit our website at https://netsheria.com/ for more on our services.
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