A foundation can be defined as a nonprofit corporation or a charitable trust that offers grants to organisations, institutions, or individuals for charitable purposes such as education, culture, and religion. Under Kenyan law, a charitable foundation is established as a company limited by guarantee or charitable trust.
How To Register A Foundation In Kenya
- Preparation of trust deed
A trust deed must be prepared. It contains the name of the trust, the objectives of the trust, the names in full and the addresses of the trustees including the powers of the trustees to change and appoint other trustees.
- Payment of Stamp duty
The trust document duly signed by trustees is submitted for stamp duty.
- Registration
Registration may involve two stages
- Registration under the Registry of Documents Act.
- Incorporation under the Perpetual Successions Act.
Registration under the Registration of Documents Act in Kenya
The process may take 1-3 weeks. Registration under the RDA does not make a trust into a body corporate trust yet. However, the trust can commence implementing the objects of the trust as a simple trust.
Requirements For foundation Registration
The following are the necessary information and documentation you must have for trust registration to be successful:
1. Have trust deeds.
2. Major objectives of the Trust.
3. Full names of the Trustees.
4. PIN certificates of the trustees.
5. Copies of the Trustee’s IDs or passports.
6. Physical Addresses of the trustees.
These requirements are always necessary when registering a trust in Kenya.