Startups and Early Stage Company Investments.
Our team of startup advocates specialise in startup business investments and investments in early stage companies. We are pragmatic, will take action quickly and we are well used to solving (and not creating) problems. As well as advising on funding, we can also help during these uncertain times to coordinate responses to these wider pressing questions on commercials or employment.
We provide advisory services and support in the incorporation and registration of various corporate entities for startups including:
- private limited liability companies – which is a company whose membership is limited to fifty (50), whose members are restricted from transferring their shares and prohibits invitations to the public for share subscriptions;
- public company – is a company where the public can subscribe to its shares and members are not restricted from transferring their shares;
- company limited by guarantee– which is a company that does not have a share capital and the liability of its members is limited to their contributions to the company; and
- Limited liability partnerships which combine the elements of a partnership and a body corporate.
- After registration, we also provide support services to startups in:Applying for a PIN Certificate for the company from the Kenya Revenue Authority (KRA), which will be required for purposes of opening a bank account and other transactions with the government including filing of tax returns in Kenya;Applying for registration for various tax obligations remitted to KRA including income tax, Value Added Tax (VAT), withholding tax, digital services tax, the deduction of PAYE from employees’ emoluments and the filing of NHIF and NSSF returns, if applicable;
- Opening a bank account including preparing the relevant board resolutions to open the bank account and providing you with our recommendation letter as your legal advisors;
- Advising on Immigration matters including procuring work permits for core expatriate employees of the startup for purposes of establishing of operations in Kenya; and
- Providing company secretarial services including filing of annual returns, preparation oof the relevant board resolutions, acting as secretaries in the conduct of board meetings, including taking minutes, and maintaining the company’s statutory documents.
Flexible and practical startup investment advice for founders, entrepreneurs and investors
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Important Things to Know about Business Set UP
- Business Vehicle: When starting a business, it is important to use the most effective business vehicle. In Kenya, there are three common types of business vehicles, these are:
- Companies limited by shares (either private or public) established under the Companies Act 2015.
- Branches of foreign companies in Kenya registered under the Companies Act 2015 that maintain the same legal personality as the foreign company.
- Limited liability partnerships (LLPs) established under the Limited Liability Partnership Act 2011.
You may also register a sole proprietorship or a general partnership.
At Netsheria, we provide a cost effective legal advisory on the various special purpose vehicles and the pros and cons of each vehicle.
- Does your business have sufficient capital to meet the day-to-day business operations? This is very important in the performance of the business. A business can raise capital either through equity or debt.
- Key documents required when starting up a business are documents like Articles of Association (if a company) shareholders agreement, service agreement, employment agreements, policies such as employment policies, data protection policies and etc, if a partnership you will require a partnership deed. All these documents and more are available in our legal documents portal.