Kenya client case studies
- In early May 2020, a UAE incorporated data & analytics-led digital transformation and technology system Integrator company approached Healy Consultants Group PLC to assist with establishing a Kenyan subsidiary.
- Following an initial phone discussion, Healy Consultants Group PLC emailed our Client a sales email outlining the cost of business setup in Kenya and projected timelines for the entire engagement.
- Our Client requested to pay our fees by instalment and we agreed an instalment plan fitting our Client’s finance plans. The Client also consented for Healy Consultants Group PLC to provide their proposed company with a tax agent.
- Towards the end of May 2020, and after fee agreement, our Client completed and signed Healy Consultants Group PLC’s engagement letter.
- Our Client provided scan copies of due diligence documents as per our compliance requirements and settled the first Healy Consultants Group PLC fee instalment and emailed us a bank transfer slip.
- At the close of May 2020, Healy Consultants Group PLC sent the first engagement update contacting the i) draft corporate structure document of the Kenyan subsidiary and ii) Nairobi virtual office agreement, and sent these for our Client’s review and approval.
- Within one week, Healy Consultants Group PLC also emailed our Client i) a draft detailed business plan for his review and input and ii) a detailed project plan outlining the step by step process of company setup and iii) company incorporation document for our Client’s signatures.
Kenya company incorporation
- In early June 2020, Healy Consultants Group PLC successfully reserved the proposed company name with the Kenya Registrar of Companies.
- Within one week, Healy Consultants Group PLC obtained the Certificate of Incorporation of the Kenyan subsidiary and emailed the same to our Client.
- Subsequently Healy Consultants Group PLC’s team submitted an application for the corporate and the new director’s tax numbers from the Kenya Revenue Authority and obtained the same within one week.
- By early July 2020, Healy Consultants Group PLC provided our Client with i) a Nairobi unified business permit and ii) proforma invoice conforming to Kenyan tax laws.
Kenya multicurrency corporate bank account
- During company setup, Healy Consultants Group PLC contacted multiple Kenyan banks, including our Client’s preferred Kenyan bank, to secure their interest to onboard our Client’s business.
- In early July 2020, Healy Consultants Group PLC emailed the completed bank forms from our Client’s preferred bank for their signature and courier back to Nairobi.
- Due to COVID-19 and the inability to travel, Healy Consultants Group PLC’s banking team negotiated with our Client’s bank and successfully waived the travel requirement. Our Client was thus obligated to sign the bank forms in front of a public notary.
- Healy Consultants Group PLC received the courier from our Client towards the end of July 2020 and proceeded to submit a quality corporate account application to our Client’s preferred bank branch.
- By early August 2020, our Client’s preferred bank reverted requesting our Client to sign an additional FATCA form in order for the bank’s compliance department to complete their due diligence review.
- Following receipt of the new FATCA form, and within one week, our Client’s preferred bank sent the new corporate bank account numbers and a welcoming email directly to our Client.
- Healy Consultants Group PLC advised our Client on accounting and tax requirements and VAT obligations for their new Kenyan subsidiary.
- In accordance with Kenya Companies Act, Healy Consultants Group PLC as our Client’s Kenya company secretary, collated and kept safe all corporate documents including certificate of incorporation, M&AA, tax certificates and business license of our Client’s Kenyan company.