The registration of trusts in Kenya is regulated by the Trustees (Perpetual Succession) Act. Recent amendments to this Act, introduced through the Statute Law (Miscellaneous Amendments) Act 2024 that was signed by President William Ruto on April 26, 2024, have brought about a significant change to improve the functionality and governance of trustee operations. This alert will focus on the major amendment involving the transfer of trust registration services to the Business Registration Service (BRS). 

Following this amendment to the law, the BRS together with the Ministry of Lands, Public Works, Housing and Urban Development, issued a Public Notice dated 22nd May 2024 notifying the public that, effective Wednesday 22nd May 2024, the State Department of Lands and Physical Planning shall cease receiving applications for registration and incorporation of trusts. 

For this reason, all new trust applications and related transactions shall be submitted to the BRS offices located at 316 chambers, 16th floor, 2nd Ngong Avenue, effective Monday 3rd June 2024.  

In conclusion, the transfer of trust registration services from the Ministry of Lands, Public Works, Housing, and Urban Development to the BRS marks a pivotal step towards enhancing the efficiency and governance of trustee operations in Kenya.  

This transition, effective from June 3, 2024, mandates that all new applications and related transactions be directed to the BRS offices. Stakeholders are encouraged to familiarize themselves with the new procedures to ensure a smooth transition and continued compliance with the updated regulatory framework. 

Please get in touch with the Netsheria team for any clarifications and assistance on the above by contacting us on +254 716209673 or via  email.

The post Alert: Transfer of Registration of Trusts from Ministry of Lands, Public Works, Housing and Urban Development to Business Registration Service (BRS) appeared first on Netsheria.