Contributed By MMC Africa Law
The minimum number of members is one and the maximum 50. A private LLC should have at least one director.
The minimum number of members is one, with no maximum. A public LLC must have at least two directors, of which one must be a natural person.
Memoranda and articles of association are required before a company can be registered.
Section 26 of the LLP Act provides that a limited liability partnership is required to have at least two partners. Section 27 provides that it must have at least one manager who is resident in Kenya. It is not required for an LLP to create memoranda or articles of association. However, partners are required to execute an LLP Agreement to set out the agreement between the members.
REITs in Kenya are structured as trusts rather than companies. The properties are held in the name of a corporate trustee who is the custodian of the REIT assets but managed by a corporate REIT manager. The primary sponsor of REITs is usually allowed majority ownership of up to 75%. Other investors’ stake should be a minimum of 25%.