Hi,
The East African Community has opened up the markets of four other fast growing economies to Kenyan businesses. From Rwanda to Uganda; Tanzania to Burundi and Southern Sudan (expected to join the fold soon). And with economic integration, the prospects get even better and profits can only rise for the Kenyan business community. While all this is known by most business-people, most of them get frustrated by the thought of having to register their businesses multiple times (in each of the four other E.A.C member states) so as to trade in these countries! Yet, now you no longer need to register your business multiple times to trade in Tanzania, Uganda, Rwanda or even Burundi!
With an East African company popularly written as (EA) Limited Company, you only get to register your business once and then you can operate in all the five East African countries simultaneously without registering again as most companies operating in East Africa do. We can point out a few of these (EA) Limited companies that you may be aware of including: East African Breweries and Unilever East Africa Limited.
What do we mean? We mean that you can now register your East African Limited company in Kenya and then proceed to open a hotel in Kigali, Rwanda under the (EA) Limited Company without having to register the same company in Rwanda! Or, you can open a textile shop in Uganda under your East African Limited or even a computer shop in Tanzania under your registered East African Limited company. All this without having to register again when you get to each of these new countries!
If you were to register your east African company today, what would be required? To register your East African Limited company, you will require between 2 and 50 shareholders (owners). Then, the registration procedure will be as follows:
1. Name search of the (E.A) Ltd in all the East African countries and, on successful search, collection of personal details of the (E.A) Ltd directors;
2. The drafting and signing of memorandum of understanding and articles of association that are compatible with all the East African countries laws;
3. Issuance of the (E.A) Limited incorporation certificate two weeks later granting you the right to enjoy the opportunities in the huge E.A market!
Unfortunately, Sole Proprietorships, Partnerships and regular Limited Companies operating in Kenya (or the other five EA countries) can't benefit from this package. However, they can reap these benefits by upgrading to an East African Limited Company! To upgrade, our team can take you through the requirements and the registration process.
A fast growing Kenyan economy has led to immense competition at home. But with the reemergence of the huge East African market, it is time to expand to the other E.A countries with lower competition. The good thing is that you no longer have to incur the cost of having to register your business in each of the 5 East African countries when you can register once and then concentrate on your expansion!
To read more articles click: http://companyxpert.wordpress.com
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