******DISCLAIMER*****
Dear Reader,
Kindly note that the process of registration of Partnerships in kenya has been revamped and a new online process put in place. Kindly see the new process here.
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Partnership business involves two or more people who share ownership where each partner contributes to all aspects of the business. Profits and losses are shared among the partners based on the formula agreed by both parties.
The process of registering a partnership company is almost the same as sole proprietor except that in partnership business you must provide a partnership deed.
The following are simple steps on how to register a Partnership Company in Kenya.
1.
Draft a partnership deed
The
partnership deed contains the following particulars
i.
The
name of the firm.
ii.
The
names and addresses of the partners.
iii.
The
nature of the business.
iv.
The
term or duration of partnership.
v.
The
amount of capital to be contributed by each partner.
vi.
The
drawings that can be made by each partner.
vii.
The
interest to be allowed on capital and charged on drawings.
viii.
Rights
of partners.
ix.
Duties
of partners.
x.
Remuneration
to partners.
xi.
The
ratio in which the profits or losses are to be shared among the partners.
xii.
The
basis for the calculation of goodwill at the time of admission, retirement, and
death of a partner.
xiii.
The
keeping of proper books of accounts and the preparation of Balance Sheet.
xiv.
Settlement
of amount on the dissolution of the firm.
xv.
The
procedures to be adopted in the case of disputes among the partners.
xvi.
Arbitration
clause.
Besides
a partnership deed you MUST also provide the following documents:Copy of ID/Passport for each partner
Passport photo for each partner
Copy of College Certificate for one of the partners.
Copy of KRA PIN Certificate for each partner
BN2 form which you will fill in the following details:
ü
Name
of Business
ü
Nature
of Business
ü
Postal
Address
ü
You
and your partner’s full names
ü
Address
of the principal place of business including plot number, name of building or
street.
REGISTRATION
AND CERTIFICATE OF REGISTRATION
Once you have drafted the documents, you lodge
the same for registration and a certificate of registration would be issued
thereafter.
Do you want to register a partnership in kenya? Mail us at akoffide@lawyer.com
company Registration is the start for all kind of business startup's with our professional you can get the process done fast Company Registration in Coimbatore
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ReplyDeleteThe partnership is a means of bringing together the persons who can contribute capital, skill for the expansion of business. In the ordinary business number of partners shall exceed than twenty. In case of banking business they may not exceed than ten. This type of original partnership deed is very popular in our country.
ReplyDeletePartnership Firm Registration is a crucial step for businesses seeking to establish a reliable and legally recognized entity. It ensures compliance with local laws, fosters trust among partners, and provides a structured framework for operations. By completing this registration, businesses can confidently pursue their goals, knowing they have a solid legal foundation.
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