Policy changes that will likely affect your business

In exactly two weeks, all directors of registered companies in Kenya are expected to have provided the government with full details of their contact details, passport photo, where they live and how much of the company they own. This comes as the grace period for companies to comply with the Companies (Beneficial Ownership Information Regulations, 2020) lapses and the government begins to set up a digital register of all company directors. The regulations that came in force last year with a three-month grace period introduce new compliance requirements for owners of companies as the state seeks to crack down on shell companies and tax dodgers.