How To Register Foundation In Kenya
In this article Keweb.co tries to answer the question by publishing How To Register Foundation In Kenya and How it cost to Register Foundation
Below are How To Register Foundation In Kenya
Procedure for Registration of a Charitable Trust 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 addresses of the trustees including 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.
Incorporation under the Trustees (Perpetual Succession) Act
After registration under the registry of documents, a certified copy of trust deed and a petition for incorporation is lodged with the ministry of lands for incorporation of trust.
The Trust may be incorporated under the TPSA, making it a body corporate.
In the petition, it must be stated that the trustees require incorporation of a trust and provide a representation of the common seal of the trust, which is round in shape with the name of the trust inscribed.
The process takes an average of 3 to 6 months to the issuance of a certificate of Incorporation.
For registration of a charitable trust in Kenya, please contact us info@capitaregistrars.co.ke
How much does it cost to set up a foundation in Kenya?
Perhaps you are asking yourself, “how much does it will cost to register a foundation in Kenya”. Well, the cost varies depending on several factors such as location, assets, and so much more. However, the average cost of registering a foundation is estimated at Kshs. 500,000.
Do foundations pay taxes in Kenya?
The charitable organization is required to compute PAYE at the graduated rates and deduct it prior to paying its employees. The charitable organization will be required to submit a monthly PAYE return and remit the PAYE withheld to the KRA by the 9th day of the following month.