AGPO (Access to Government Procurement Opportunities) is a special government scheme in Kenya. It is meant to uplift and empower local groups who need extra support, which are youth, women, and people living with disabilities.
When a property is transferred to a trust, it effectively changes the legal ownership of the asset from an individual name to the trust itself, managed by a trustee for the benefit of the chosen beneficiaries.
The legal process for appointing or removing a trustee in Kenya is primarily governed by the Trustee Act (Cap 167), the Trustees (Perpetual Succession) Act (Cap 164), and the provisions of the Trust Deed itself.
Many parents wish to involve their children in family businesses or create long-term wealth through company share ownership. However, under Kenyan law, children under the age of 18 do not have the legal capacity to enter into binding contracts.
Securing a family’s legacy goes beyond a simple will. It requires understanding the specific legal framework that makes a Family Trust effective in Kenya. This article outlines the six essential Kenyan statutes that govern asset protection, succession, and taxation for your trust.
The legal framework for trusts in Kenya is evolving! With the proposed Trust Administration Bill, 2025, set to potentially repeal existing legislation like the Trustees (Perpetual Succession) Act (Cap 164), understanding how to formally wind up a family trust is crucial for settlors and trustees alike. While the core principles remain rooted in the Trust Deed, the process will likely align with the new dissolution standards for incorporated bodies.
These trusts are managed by a group of people called trustees and are governed by the Kenya’s Trustees Act. They’re permanent and irrevocable, which means you can’t take back the assets you donate to the trust. This ensures your legacy of giving lasts forever and protects the assets from creditors.
A Trust is a legal arrangement where a person, known as the Settlor (or Founder/Grantor/Donor), transfers ownership of assets (Trust Property) to Trustees. The Trustees manage these assets for the benefit of designated third parties, the Beneficiaries.
The term for this is transmission of shares. It’s the legal process of passing on shares from a shareholder to another person because of an event that’s not a voluntary sale or gift.
This often happens when a shareholder passes away, and their shares are inherited by an heir or a legal representative of their estate.
P.A.Y.E is a vital part of any company doing business in Kenya, understanding and following the rules for PAY AS YOU EARN (PAYE) in running a responsible business. PAYE is the system where an employer, deducts income tax directly from the team’s salaries and send it to the Kenya Revenue Authority (KRA).