Kenya · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
AI-drafted, editorial review pending. The official links below are checked — confirm specifics with the authority.
Banks are licensed and supervised by the Central Bank of Kenya. Deposits at member institutions are insured by the Kenya Deposit Insurance Corporation up to KES 500,000 per depositor per institution; the cover is paid only when the Central Bank places a bank in liquidation, not during receivership. Banks ask for identification — a national ID or, for foreigners, a passport or alien ID — and usually a KRA PIN, since the Income Tax Act lists opening a bank account among the transactions that require one. Mobile money is used for most everyday payments, alongside bank transfers.
- Deposits are insured up to KES 500,000 per depositor per member institution.
- The cover is paid when a bank is placed in liquidation, not during receivership.
- Banks usually ask for a KRA PIN as well as ID.
- Central Bank of Kenya (CBK)
Central Bank of Kenya: licensing and supervision of banks.
- Kenya Deposit Insurance Corporation (KDIC)
Deposit insurance: up to KES 500,000 per depositor per member institution.
Government portals
- Business Registration Service (BRS) — Company, LLP and business-name registration, official searches and insolvency.
- Kenya Revenue Authority (KRA) — Tax PINs, income tax, PAYE, VAT, eTIMS invoicing and customs.
- Directorate of Immigration Services — Work permits and passes, permanent residence, eTA and passports.
- Office of the Data Protection Commissioner (ODPC) — Registration of data controllers and processors, complaints and breach reports.