The Companies Act has undergone significant amendments aimed at improving corporate governance and transparency. These changes affect all registered companies in Kenya.
Major Changes
Beneficial Ownership Disclosure
Companies are now required to maintain a register of beneficial owners and file this information with the Registrar of Companies. This is aimed at combating money laundering and tax evasion.
Digital Filing
The Business Registration Service (BRS) now requires all filings to be done electronically through the eCitizen portal, streamlining the registration and compliance process.
Annual Returns
The deadline for filing annual returns has been revised, with increased penalties for late filing.
Impact on Businesses
Companies should review their current compliance status and ensure they meet all new requirements. Our corporate team can assist with a comprehensive compliance audit.
Contact us for a consultation on how these amendments affect your business.