Registration
of a Foundation as a Company limited by guarantee
A company
limited by guarantee or a foundation is the most appropriate entity where the
members wish to form a charitable organization and also reserve limited
liability against claims from third parties.
Under the Companies Act, 2015 a group
or association of persons can incorporate as a private or public company. A private company requires at least one (1) and no
more than 50 shareholders. A public company requires at least seven members.
A private charitable foundation as a company limited by guarantee can be registered with at least one (1) director and one (1) member.
Kindly note that both the guarantee companies and NGOs will usually be
vetted by the security agencies (National Intelligence Service) before there
are granted registration.
It generally
takes the security authorities up to two months to do their background checks
or interview the promoters and principal officers of such companies with the
result that it can take between 2 to 6 months to obtain a final decision from NSIS
and the Companies Registry as to whether such a company limited by guarantee
can proceed to incorporation.
If you require
to register a foundation in Kenya, kindly get in touch with me via mainacy@gmail.com
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