Kenya client case studies in 2021
Multi-national 360 payments platform provider establishes foothold in Kenya
Our Client is an advanced payment solutions provider creating seamless payment connections between their clients and their clients’ customers. Our client focuses on developing and emerging markets, especially in South America, Africa and Asia.
Our Client engaged Healy Consultants Group PLC to help establish their business in Kenya and South Africa as part of a multi-country expansion plan. Healy Consultants Group PLC i) established a new Kenyan and South African company ii) provided a legal registered addresses in both countries iii) provided a nominee shareholder and director in each country and iv) opened 2 x corporate bank accounts for each entity.
- Our Client emailed Healy Consultants Group PLC to understand the extent to which we could assist them with their African business setups.
- Our Client Engagements Manager Henry held multiple calls with the client, providing them with a wealth of information on a number of African jurisdictions into which they were looking to expand.
- When the Client had settled on the initial two African countries, Henry prepared a multi-country proposal, including fees and timelines.
- Once the Client confirmed their intention to proceed, Henry prepared an engagement advancement email, which included a tailored invoice and list of required due diligence in order to proceed.
- Healy Consultants Group PLC prepared a detailed engagement project plan mapping out a step-by-step plan to engagement completion for both Kenya and South Africa.
Company registration in Kenya
- Upon settlement of Healy Consultants Group PLC’s fees, Henry prepared the company incorporation documents and sent them to our Client to complete and sign.
- Once our Client reverted with scans of the signed incorporation documents, Henry compiled and submitted the complete incorporation application to the Kenya Registrar of Companies.
- Within 2 weeks Healy Consultants Group PLC secured company numbers for our Client’s new Kenyan entity.
Kenyan tax and business permit registrations
- Healy Consultants Group PLC secured a tax personal identifier number (PIN) for our Client’s foreign director.
- Thereafter, Henry prepared and submitted a quality applications to i) the Kenyan Revenue Authority (KRA) to secure corporate tax PIN as well as ii) the Nairobi City Country (NCC) to obtain our Client’s unified Nairobi business permit.
- Our Client’s Tax numbers as well as business permit were secured within a month of application submission.
Corporate bank account opening in Kenya
- Our Client confirmed two Kenyan banks they wanted corporate accounts with, and our team consequently made contact with the banks to secure interest in our Client’s business.
- Healy Consultants Group PLC received interest from both banks and secured bank account opening application forms from each.
- Henry prefilled the application forms from each bank and prepared a signing guide before emailing the same to our Client and requesting them to complete and sign each application and email return scans of the actioned documents.
- Upon reviewing the signed forms, Henry requested our Client to courier the originals to Kenya for submission to the bank.
- The corporate bank account numbers were released by both banks within one week of receiving the original signed bank account opening application forms.
- Our Client engaged Healy Consultants Group PLC to annually renew their Kenyan and South African companies as well as provide ongoing in country support services such as nominee directors and shareholders. Additionally, our Client hired Healy Consultants Group PLC for business setup services in four other countries.
UAE company setup a subsidiary in Kenya
- 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.