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| You are here: Help CadifKenya > Invest in Africa > Investing in Kenya > Doing business in Kenya | ||
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General Business Information This page provides general information about doing business in Kenya, like currency information, visa information, addresses of various relevant institutions. Click the topic below:
The Kenyan currency unit is the Shilling divided into 100cents.
International credit cards are accepted.
Government offices operate on a five-day week while most private businesses are run on a six-day week. The official working hours are 8 a.m. to 5 p.m. on weekdays, with a one-hour lunch break. Sunday is not a working day. Legal holidays
Personal effects may be imported duty free. The importation of firearms and game trophies is restricted, and pornographic literature is prohibited. Domestic animals and pets may be imported provided they have valid veterinary certificates. Plants require a phyto-sanitary certification. Residence permitFor a stay in Kenya exceeding 6 months, one must obtain a residence permit that can be delivered during the first stay, valid for one year. It must be renewed each time the work contract is renewed. The permit renewal can be valid for five years , each time. Foreign currencyTravelers are free to bring in, without limits to amounts, the means or ways of payment in foreign currency. To take out again a hard currency that has been brought-in with an exchange value exceeding 1,000 Dinars, one must fill-out upon entering the Kenyan territory, a hard currency import statement, stamped by the Customs Service. This document is to be saved and presented when leaving Kenya. The remaining unused hard currency can be taken out again without supporting evidence, for any amount less than a KShs.500,000. For larger sums, one must present a supporting evidence that this hard currency has been legally imported (customs statement and/or foreign exchange slip). Personal belongings and passenger carAny foreign person residing in Kenya because of business can import his personal belongings, his house furniture and a passenger car for personal use. When cleared through customs, these personal belongings, house furniture and passenger car can be duty free or liable to rights and duties by means of phased payments. They may not be transferred neither in return for payment, nor free-of-charge before they are sorted out with the Customs Authority and a foreign trade license is provided, if the case arises. The Kenyan tax law adapts advantages and procedures according to the beneficiary's status. Central Bank of Kenya (CBK)P.O Box 60000, Nairobi, City Square, 00200, Kenya
The Central Bank of Kenya (CBK) whose objectives are laid down in the Central Bank of Kenya (Amendment) Act of 1996, is charged with the formulation and implementation of monetary policy directed at achieving and maintaining stability in general level of prices. CBK also fosters the liquidity and proper functioning of a stable market based financial system. Additionally, CBK formulates and implements foreign exchange policy and holds and manages foreign exchange reserves; licences and supervises authorized dealers in the money market; promotes the smooth operation of payments, clearing and settlement systems; acts as a banker and adviser to, and as fiscal agent of the Government; and issues currency notes and coins. CBK publications include Monthly Economic Review, Central Bank of Kenya Quarterly Report, Central Bank of Kenya Annual Report, and Central Bank of Kenya Annual Report, and Central Bank of Kenya Economic Report. Export Processing Zones Authority (EPZA)P. O Box 50563, Nairobi, City Square, 00200, Kenya
Export Processing Zones Authority (EPZA) manages the Export Processing Zones (EPZs) which came into existence in 1990. EPZ program provides an attractive investment opportunity for export oriented business ventures within the designated zones. The program's objectives, which are also the criteria for project approval, are the increase in productive capital investment; generation of jobs; transfer of technology; development of forward and backward linkages; and diversification of export products and markets. The scheme offers a range of attractive incentives to ensure lower cost of operations, faster set up, smoother operations, and higher profitability through the establishment of an effective One Stop Shop service at the EPZ Authority to facilitate all stages of the investment process. Kenya Investment Authority (KIA)P.O Box 55704, Nairobi, City Square, 00200, Kenya
The Kenya Investment Authority (KIA) is a statutory body established in 1986 with the main objective of promoting private investment in Kenya. The main role and functions of KIA include, promoting investments in Kenya by local and foreign business enterprises; assisting business enterprises in implementing the approved projects; assisting all business enterprises in overcoming institutional and bureaucratic problems; advising the Government periodically on changes in policies, strategies and administrative procedures necessary for promotion and enhancement of investment in Kenya. Export Promotion Council (EPC)P.O Box 40247, Nairobi GPO, 00100, Kenya
Export Promotion Council (EPC) was established in 1992 with the primary objective of assisting producers and exporters of goods and services to overcome bottlenecks and enhance the performance of the export sector, formulation of market strategy and identification of export opportunities; as well as promoting an export culture and a culture and a national consensus to ensure sustainable national growth through exports. EPC works closely with relevant public and private sector bodies and coordinates and harmonizes export development and promotion activities among all stakeholders. The Council fulfils its mandate through export market development; trade information; product development and adaptation; trade policy and facilitation; and development of exporting skills. Capital Markets Authority (CMA)P.O Box 74800, Nairobi, City Square, 00200 Kenya
The Authority ensures the development and maintenance of an appropriate legal and regulatory framework to boost investor confidence, enhance efficiency and to create and maintain a fair and orderly market. The Authority also reviews existing policies and makes recommendations to the Government on new policy issues that could promote and enhance market development. It also provides guidance to market operators Nairobi Stock Exchange (NSE)P.O Box 43633, Nairobi GPO, 00100, Kenya
Kenya dealing in shares and stocks started in 1920s when the country was still a British colony. In 1991, NSE was registered under the Companies Act and phased out the 'call over' trading system in favour of the floor- based open outcry system. The privatization of Kenya Airways in 1996 was the largest share issue in the history of the NSE. The Government has expanded the scope for foreign investment by introducing incentives for capital market growth including the setting up of tax free venture capital funds, removal of Capital Gains Tax on Insurance company, investments, allowing beneficial ownership by foreigners in local stockbrokers and fund managers and licensing of dealing firms to improve market liquidity. Go back to investing in Kenya. |
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