Diamond Trust Bank Kenya Ltd. · NSEKE:DTK
Diamond Trust Bank Kenya — Investor Presentation (October 2024)
28 slides from Diamond Trust Bank Kenya's investor presentation, Oct 16, 2024
Slide 1: Module III: Legal Requirements in Business
M O D U L E III: LEGAL REQUIREMENTS I N BUSINESS Mr.Ronald Ojuku M o m a n y i 16 t h October 2024 1
Slide 2: Course Description - Legal Landscape in Kenya
C O U R S E D E S C R I P T I O N - L e g a l L a n d s c a p e in Ken ya This course provides a comprehensive overview of the Kenyan legal system, offering insights into its historical development, key institutions, and contemporary challenges. Participants will explore the interplay between law an
Slide 3: Starting a local company
S t a r t i n g a local c o m p a n y • A local company is a company incorporated in Kenya under the Companies Act of 2015. It m a y take the form of: • A company limited by shares • A company limited by guarantee • Unlimited company It m a y also a public limited company or a private limited • comp
Slide 4: Registering a branch of a foreign company
• R e g i s t e r i n g a b r a n c h of a f o r e i g n c o m p a n y • Companies incorporated outside of Kenya can do business in Kenya by registering a branch. The registrar of companies issues a certificate of compliance once all the requirements have been met. • R e g i s t e r i n g a b u s i
Slide 5: Starting a Business: Permits and registrations
CONT… • Once it is registered, it gains a corporate legal entity different from its m e m b e r s and is able to own property in its own name. In addition, it is effective from a tax perspective a s the partnership income is taxed in the h a n d s of each partner. Bu s i n e s s permits • The variou
Slide 6: Business registration in Kenya
B u s i n e s s r e g i s t r a t i o n in K e n y a • A s you embark on the exciting journey of starting and running your own business, it's essential to understand what the law requires of you. One of the key requirements is that you must formally register your business, which entails choosing one
Slide 7: How to start a business in Kenya
H o w t o s t a r t a b u s i n e s s in K e n y a • To start a business in Kenya, you'll need to: choose a business structure that is right for you, register your business with the relevant authorities, obtain the necessary permits and licenses, comply with taxation regulations. • You'll also need
Slide 8: Steps of registering a business in Kenya
S t e p s of r e g i s t e r i n g a b u s i n e s s in K e n y a • Once you have chosen your business structure, you can start the process of registering your business. The registration process involves several steps, including researching and reserving a business name. • The n a m e search process
Slide 9: Licenses and permits
L i c e n s e s a n d p e rmi t s • Depending on the nature of your business, you m a y need to obtain permits and licenses to operate your business legally. M a n y of these, like meats and liquor trading licenses, are issued by the city or local authority. Others, like mining and exploration permi
Slide 10: Corporate tax and VAT
Co rp o ra t e tax • Corporate tax is a tax on the profit a business makes. It is levied at a rate of 3 0 % for resident companies and 3 7 . 5 % for non-resident companies. • Calculating corporate tax is a complex process involving multiple factors, including the company's structure, activities, and
Slide 11: Pay As You Earn (PAYE) and excise duty
P a y A s You E ar n (PAYE) • PAYE is a tax levied on employment income. It is deducted from the employee's salary at the source. The employer is responsible for deducting PAYE from the employee's salary each month and paying the government. • The amount of Pay A s You Earn tax depends on the employ
Slide 12: Importance of registering for tax purposes
I m p o r t a n c e of r e g i s t e r i n g for t a x p u r p o s e s • After registering for taxes, all businesses must file their taxes within the given deadlines. Missing the deadline for filing taxes can lead to heavy penalties, fines, and possible legal action. • Having the right accounting sy
Slide 13: Tax incentives for businesses in Kenya
Tax incentives for b u s i n e s s e s in K e n y a • The Kenyan government offers several tax incentives to encourage investment and growth. These incentives include: I n v e s t me n t deductions • In Kenya, certain businesses are eligible for investment deductions. These deductions are designed a
Slide 14: EPZ and SEZ incentives; employment laws
CONT… • EPZ incentives allow businesses to reduce their costs, making them more competitive in the global market. E P Z s also offer investors an easier process for setting up businesses due to a special one-stop shop for processing permits and licenses. S p e c i a l e c o n o m i c z o n e t a x i
Slide 15: Employment law and minimum wage requirements
CONT… • Entrepreneurs need to understand these laws when starting a business in Kenya to ensure compliance and avoid legal disputes. The Constitution underpins the rights of employees under Article 4 1 and the Employment Act 2 0 0 7 consolidated all the laws related to labour relations in Kenya. In
Slide 16: Working hours and overtime regulations
W o r k i n g h o u r s a n d o v e rt i me re g u la t i o n s • The maximum working hours in Kenya are set at 5 2 hours per week. This means that employees should work a maximum of 8 hours per day, 6 days per week. • Any work beyond the maximum working hours is considered overtime and should be co
Slide 17: Health and safety regulations
H e a l t h a n d s a f e t y re g u la t i o n s • Employers must ensure their employees' health and safety while at work. This includes providing a safe working environment, protective equipment, and training on handling hazardous materials. • Employers must also report any workplace accidents or
Slide 18: Legal requirements for hiring and terminating employees
L e g a l r e q u i r e m e n ts for hiring a n d t e r m i n a t i n g e m p l o y e e s • When hiring employees in Kenya, employers must provide a written employment contract that sets out the terms and conditions of employment. This includes details on the job description, working hours, salary,
Slide 19: Understand your legal obligations to start your business
U n d e r s t a n d y o u r l e g a l o b l i ga t i o n s to st a rt y o u r b u s i n e s s o n the right foot • Compliance with legal requirements is crucial for entrepreneurs starting a business in Kenya. Understanding and adhering to business registration, taxation, employment and labour, and i
Slide 20: Understand your legal obligations to start your business
U n d e r s t a n d y o u r l e g a l o b l i ga t i o n s to st a rt y o u r b u s i n e s s o n the right foot • Compliance with legal requirements is crucial for entrepreneurs starting a business in Kenya. Understanding and adhering to business registration, taxation, employment and labour, and i
Slide 21: Registering Your Business
R e g i s t e r i n g Your B u s i n e s s • First things first, as a business owner you need to research and secure a new and unique business name that has yet to be previously registered by a different entity. Other conditions include; that the name should not be offensive and should not contain p
Slide 22: Business structures and registration credentials
Depending on the ownership, liability, control, exit plan, and the invested capital the business can either be registered as a sole proprietorship, limited partnership, unlimited partnership, limited liability company, a branch of an international company, or a public limited company. For a business
Slide 23: Obtain statutory requirements
O b t a i n s t a tu to ry re q u i re ment s • All business owners need to acquire a work permit and be registered with the Kenya Revenue Authority, National Hospital Insurance Fund, and the National Social Security Fund. • The KRA issues a Personal Identification Number that is used in filing retu
Slide 24: NITA registration and consumer protection laws
• Registration with the National Industrial Training Authority (NITA) • All employers are required to register with the National Industrial Training Authority. Its mandate is to promote the highest standards in the quality and efficiency of Industrial Training in Kenya and ensure an adequate supply
Slide 25: NITA registration and consumer protection laws
• Registration with the National Industrial Training Authority (NITA) • All employers are required to register with the National Industrial Training Authority. Its mandate is to promote the highest standards in the quality and efficiency of Industrial Training in Kenya and ensure an adequate supply
Slide 26: Employment and labour laws in Kenya
E m p l o y m e n t a n d l a b o ur l a w s in K e n y a • In Kenya, there is a legal framework that dictates the obligations of employers to employees and vice-versa. The Employment and Labour Relations Court oversees all work-related disputes. A s a potential employer, you will need to familiariz
Slide 27: Conclusion
CONCUSION It is therefore advisable that both existing and prospective businesses acquaint themselves well with legal regime to avoid legal pitfalls that will inevitably lead to expensive and protracted litigation. This can be avoided if the businesses employ good legal counsel and the H R Departmen
Slide 28: The End
T h a n k y o u very m u c h for your time. THE E N D
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