To start trading in Kenya, you need to register your company with Company Registry and then register with Kenya Revenue Authority . The Memorandum of Association details your business’s name, location, its business object, states the value of each company share, and specifies how many shareholders the company has. The amount of money that you pay will be equal to 1% of your company’s nominal capital, but the minimum is Kes.

For an entrepreneur to do proper and legally acceptable business in Uganda, it is wise that during business formation, you follow the right procedure to do company registration. We appreciate there are many important steps you’ll take as you form your business. This includes considerations such as business location, customers, and competitors. When opening a new business in Connecticut, it’s important you register your business with the State. This provides Connecticut with an accurate public record of your business.

More Definitions of Business registration

Provides possibilities to conduct business with massive companies. Start saving on payroll expenses today by learning about 3 easy ways to do payroll yourself. We think businesses are as unique as the people who run them.

• Rather than a flat corporate tax, businesses that start operating in Ohio pay a commercial activity tax on a sliding scale according to their gross income.
• Pay the Stamp Duty based on the amount of capital your company has.
• Register a company name with SEC or, for sole proprietorships, with the Department of Trade and Industry .
• To accomplish this goal, you will need to register the company’s structure as a limited liability company , a nonprofit, a corporation, a limited partnership , etc.
• Have more than $500,000 in total gross receipts allocated to the City during the tax year.

The Business Registration Process a name you wish for your company to operate under and make sure it complies with state rules. If you are registering the company as an LLC, its name will need to include LLC or limited company or something similar. For example, White’s Heating Limited Company or White’s Heating and Cooling LLC. In your local city or county, if you’re interested in using one.

Identify your business structure

Laws regulating LLPs, LLCs, and corporations make opening a business bank account a requirement. Sole proprietors and unincorporated partnerships, on the other hand, aren’t obliged to have separate personal and business bank accounts. It’s important to research the laws in your specific industry. This will make it easier for you to make sure you complete the process to obtain all of the licenses and permits that you need for your business to operate legally.

• Allow 7-10 days for mailing and an additional 2 weeks for processing.
• The truth is, federal business registrations can be a fairly complex ordeal—especially if businesses want to ensure they secure their rightful, comprehensive benefits.
• After you submit the application, you will receive an email from DocuSign at the email address you provide on the Business Identification page.
• A DBA can also be used by existing LLCs and corporations to register other businesses under them.
• Businesses need to get a UEI number before they can successfully kick off the SAM registration process.

The bank will issue a certificate of deposit which is among the documentary requirements to be submitted to the SEC. You will need to register your business with the Corporate Affairs Commission before you conduct legal business in any state of the federation. It is after registration that you can proceed to obtain a corporate account, set up an office, and then pay taxes both at the Federal and State levels. Registering a company in Kenya was once a difficult and complicated process.

Business Registration Fees for the registration year beginning July 1, 2022 and ending June 30, 2023.

Bluevineis an excellent choice for a small business checking account. You can earn 1.5% APY on balances up to and including $100,000. Bluevine offers an easy application process and great software integrations. Once you register your business, you will be able to open a business checking account under your business name. Simply go to your state’s official website and perform a search for “do business as” or “DBA.” You’ll be directed to the appropriate information. Or, you can visit your local county clerk’s office and ask for information.

It lists each member’s liability, the powers of the company directors, the rights of all company members, and how directors are to be appointed and removed from their position. As part of completing the Stamp Duty requirements, you’ll also be charged Kes. 100 for each document (i.e., each shareholder’s personal information) that the KRA must approve. The photo that you use needs to have been taken within 6 months of when you’re registering your company. A Kenyan company can have directors who live abroad and are not Kenyan citizens.

Advantages of Company Registration in India

Don’t wait till the last minute – click here to set up your Pay.com account now. If you invent a new product or piece of machinery, you’ll definitely want to patent it. A patent gives the holder exclusive rights over an item and prevents anyone else from making, selling, or importing the patented item for a specified period of time.