"Often when individuals register companies, they hit the ground running."
Business is good and the company has started applying for loans for business expansion. The bank though indicates that they need a CR 12 of not more than 6months, and annual returns of 3years. One of the directors is wise. He knows that nowadays, getting a CR 12 is easy; you only need to pay Ksh. 650 and automatically you have it. He sends to the whatsapp group `tumeni kila mtu 230 (they are 3directors)’. They send and he cannot wait to be celebrated. He pays and CR 12 is out. Good work John, the co-directors applaud him.
Annual returns? They call the guy who does their returns. He doesn’t enquire much. He sends the receipt acknowledgment for returns filling to which the bank rejects. They insist what they need is generated from the registrar of companies.
You see, after registering a company, from the following year, every company oughts to file annual returns. It is to declare the current status of the company. Payment is Ksh. 1,050 and Ksh. 1,550 if you pay late.
Our Company Registration package includes a first year annual returns filling. https://a3consultants.co.ke/service/registration-legal-compliance/.
For more contact us at info@a3consultants.co.ke, 0701 750 972.
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