🇰🇪 Registry30 Oct 2024
Kenya sets a November 2024 deadline for companies to file beneficial owners
Kenya's Registrar of Companies issued Directive No. 1 of 2024 requiring private companies to file their register of beneficial owners with the Business Registration Service by 30 November 2024. A beneficial owner is an individual with at least 10% of the shares or votes, the right to appoint or remove a director, or significant influence or control. Failure to comply carries a KES 500,000 penalty plus KES 50,000 a day, and changes must be filed within 14 days.
The directive was made under section 93A of the Companies Act 2015 and section 31B of the Limited Liability Partnerships Act.
What it requires
- Companies and LLPs must keep a register of beneficial owners and file it with the Registrar.
- Deadline: 30 November 2024 for private companies. The LLP deadline was to be announced later.
- Beneficial owner: an individual who holds at least 10% of the shares or voting rights, directly or indirectly, can appoint or remove a director, or exercises significant influence or control.
- Changes: filed within 14 days.
- Penalties: KES 500,000 plus KES 50,000 a day for failing to file, and possible removal from the register.
Later developments
In April 2025 the Registrar published a list of companies that had missed the deadline and gave them 30 days to comply. See our coverage.