Kenya Banking License

The Central Bank of Kenya is responsible for formulating monetary policy to achieve and maintain price stability. The Central Bank also promotes financial stability; an effective and efficient payment, clearing and settlement system; formulates and implements foreign exchange policies; holds and manages foreign exchange reserves; issuing of currency; and is the banker for, an adviser to and fiscal agent of the Government.

 

Kenya Banking Licence Key Features

  • Kenya has double taxation treaties with some countries, which prevent some expats from being taxed on one income in both Kenya and in their home country.
  • Kenya Banking License requires a license fee of Ksh 400,000
  • Kenyan Banks are liable for 40% of Corporate Taxes

 

Kenya Banking License Legal Information

Requirements

Description

General

  • Corporate  vehicle permitted

Kenya Company

  • Local physical office required

No

Government Fees

  • Application Fees

Ksh 5,000

  • License Fees

Ksh 400,000/=

Directors

  • Minimum number

2

  • Corporate directorship allowed

Yes

  • Local director required

No

Shareholders

  • Minimum number

2

  • Corporate shareholders allowed

Yes

  • Local  shareholders required

No

Service Providers Required

  • Company Secretary

Yes

Accounts

  • Requirements to File

Yes

 

Kenya Banking License Tax Treatment

Corporate tax of 30%

Capital Gain tax of 5%

Tax on Interest 15%

 

Duration to Set Up

1 month

 

Kenya Banking Licence Distinctive Benefits of Licence

 

  • Robust yet flexible regulatory environment
  • Professional infrastructure and quality of workplace
  • Kenya has double taxation treaties with some countries, which prevent some expats from being taxed on one income in both Kenya and in their home country.

 

Why US (Key Strengths)

  1. We will advise you on the optimal legal structure for your requirements, size, expectations and circumstances.
  2. Valsen will assist to complete every form for each process in the best way we know how (Based on our many years’ experience with various regulators and service providers across the world)
  3. We are very hands-on in the post-filing period checking with re regulator and service providers and updating you regularly.
  4. Any queries raised by the regulators and service providers during processing will be quickly synthesized by us and we shall craft the right responses to move the process forward fast.
  5. We have a full in-house compliance support for all compliance requirements with the regulator and service providers