Company Registration Steps Guide

Summary

To register a private company limited by shares in Kenya, start by reserving a unique company name with the Registrar of Companies. Use the model Articles of Association to minimize legal costs. Fill out the Company Registration Form (CR1), specifying the business activities and directors details. Amy and Ben will each subscribe to 500 shares, paying 50% of the nominal value upfront. Pay the required incorporation fee and submit all necessary documents, including the CR1 form and Articles of Association, to the Registrar. The company can later expand into other business lines. The companys primary object is apparel importation, with members liability limited to unpaid shares. The nominal share capital is Kshs. 1,000,000, divided into 1,000 shares of Kshs. 1,000 each.

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Your clients, Amy and Ben, have instructed you to register a company on their behalf. iii. They would not want to incur unnecessary legal costs and for this reason, they would rather adopt the model Articles of Association appropriate for their company. iv. The company's main "line of business" will be importation of apparel from China for sale in Kenya. They however would also want to "branch" into other lines of business after the company is well established. v. They will each contribute Kshs. *,* to finance the company's business. In this regard, each one of them will subscribe to * shares of the company. Each will pay, upfront, *% of the Nominal Value of each share subscribed to.
Hi ****! Here are the steps you can follow to register the company for Amy and Ben:
*. Reserve a Company Name:
- Conduct a name search and reserve a unique name with the Registrar of Companies.
*. Prepare the Articles of Association:
- Use the model Articles of Association to avoid unnecessary legal costs.
*. Fill Out the Company Registration Form (CR1):
- Include details such as the company name, business activities (importation of apparel), and directors' details.
*. Share Subscription:
- Each subscriber (Amy and Ben) will subscribe to * shares and pay *% of the nominal value upfront.
*. Incorporation Fee:
- Pay the required incorporation fee.
*. Submit Documents:
- Submit the completed CR1 form, Articles of Association, and other required documents to the Registrar of Companies.
Once the company is registered, Amy and Ben can expand into other lines of business as planned.
Do you need any specific details or assistance with any of these steps?
a) With reference to the company registration Form CR1 in the Companies Act, *, complete the following parts on behalf of your clients: Part *: kind/type of company (* Mark) The type of Company is Private Company Limited by Shares Part *: objects (* Mark) Part *: liability of members (* Marks) Part *: share capital (* Marks) Part *: paid up capital (* Marks Answer like an undergraduate students while reffering to the Form CR1 and answer using detailed paragraphs using the legal materials
Case Rating: *
Hi ****! Certainly, I can help with that. Here are the detailed responses for the specified parts of the company registration Form CR1:
- Part *: Kind/Type of Company (* Mark)
The company type is *Private Company Limited by Shares*. This means the company's shares are privately held and the liability of shareholders is limited to the amount unpaid on their shares.
- Part *: Objects (* Mark)
The primary object of the company is the *importation of apparel from China for sale in Kenya*. Additionally, the company reserves the right to engage in other lines of business as opportunities arise and the business expands.
- Part *: Liability of Members (* Mark)
The liability of the members is *limited to the amount unpaid on the shares they hold*. This means that shareholders are only liable for company debts up to the amount they have invested in their shares.
- Part *: Share Capital (* Marks)
The nominal share capital of the company is *Kshs. *,*,** divided into **,* shares of Kshs. *,* each*. This represents the maximum amount of capital the company