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Easiest place to set up a Shell Company...Kenya
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iMANI
#1 Posted : Monday, September 09, 2013 11:11:53 AM
Rank: Member

Joined: 2/20/2008
Posts: 84
According to FT..Kenya (rink) is the easiest country in the world to set up a shell company..much easier than Jersey or the Cayman Islands. Any lawyers in the house..
Life and beer are very similar........chill for best results.
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mkonomtupu
#2 Posted : Monday, September 09, 2013 11:32:29 AM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Yes it's quite easy to get brokers to incorporate a company and they usually will not do any due diligence that a lawyer will normally carry out.
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maka
#3 Posted : Monday, September 09, 2013 11:39:48 AM
Rank: Elder

Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
iMANI wrote:
According to FT..Kenya (rink) is the easiest country in the world to set up a shell company..much easier than Jersey or the Cayman Islands. Any lawyers in the house..
Its going to be made harder really soon...
possunt quia posse videntur
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sizzla
#4 Posted : Monday, September 09, 2013 11:46:01 AM
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Joined: 6/10/2006
Posts: 201
Location: Nairobi
@maka, spot on. There is an initiative to integrate data on directors, bank accounts, utility bills and land/property ownership. This will make it harder, but not impossible.
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iMANI
#5 Posted : Monday, September 09, 2013 1:24:44 PM
Rank: Member

Joined: 2/20/2008
Posts: 84
sizzla wrote:
@maka, spot on. There is an initiative to integrate data on directors, bank accounts, utility bills and land/property ownership. This will make it harder, but not impossible.
@ sizzla which authority is leading this initiative...KRA? it might be a long shot especially on the bank accounts due to the confidentiality clauses involved..
Life and beer are very similar........chill for best results.
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iMANI
#6 Posted : Monday, September 09, 2013 1:41:55 PM
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Joined: 2/20/2008
Posts: 84
Full report is available here
Life and beer are very similar........chill for best results.
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webish
#7 Posted : Monday, September 09, 2013 2:34:06 PM
Rank: Member

Joined: 10/19/2009
Posts: 671
Location: Nairobi
quote from the article.. "Kenya is still pursuing millions of dollars lost in one of its worst national corruption outrages, linked to international shell companies. The Anglo Leasing scandal – which is thought to have started in 1997 but spanned several years – saw multi-million dollar state contracts awarded to non-existent foreign companies for services ranging from passport printing systems to naval ships, which never materialised." Sad Sad
Life is joy, death is peace, but the transition is very difficult.
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earthvoice
#8 Posted : Monday, September 09, 2013 11:43:02 PM
Rank: Member

Joined: 1/29/2011
Posts: 257
Just out of curiosity... How long is a newly formed company allowed to remain dormant after registration in Kenya? As in what is the maximum number of years allowed between registration and commencement of operations? What happens when this period elapses? d'oh! Think
"All intelligent investing is value investing -- acquiring more than you are paying for. You must value the business in order to value the stock." - Charlie Munger.
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earthvoice
#9 Posted : Tuesday, September 10, 2013 5:47:23 PM
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Joined: 1/29/2011
Posts: 257
Anyone?
earthvoice wrote:
Just out of curiosity... How long is a newly formed company allowed to remain dormant after registration in Kenya? As in what is the maximum number of years allowed between registration and commencement of operations? What happens when this period elapses? d'oh! Think
"All intelligent investing is value investing -- acquiring more than you are paying for. You must value the business in order to value the stock." - Charlie Munger.
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Wendz
#10 Posted : Friday, January 31, 2014 11:58:49 AM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
earthvoice wrote:
Anyone?
earthvoice wrote:
Just out of curiosity... How long is a newly formed company allowed to remain dormant after registration in Kenya? As in what is the maximum number of years allowed between registration and commencement of operations? What happens when this period elapses? d'oh! Think
Anyone??
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