Investments are protected by the Constitution of Kenya (2010). The Investment Promotion Act (2004) also contains specific measures to protect against expropriation. Investments made by foreign investors are eligible to extra protection.
In case of dispute, foreign investors can start an international arbitration procedure. In addition to being member of the World Bank’s Multilateral Investment Guarantee Agency (MIGA), Kenya is signatory of the New York Arbitration Convention.
It is possible to obtain the land. Yet, the Constitution ok Kenya restricts foreign ownership of private land to leasehold for a maximum of 99 years.
An investor is free to choose to operate their business with either 100% ownership or in partnership with local investors, except in the sectors of insurance, ICT, air services or investments in the stock market.
The application for and issuance of the Investment Certificate is free of charge.
Depending on the speed with which a prospective investor presents the requisite documents on application for the certificate, it takes approximately 1-3 working days. However, investments which impact security, health or the environment must be cleared by the respective authorities, which may take longer.
There is no exchange controls. Investors can freely repatriate 100% of profits.
Investors may freely transfer profits.
KenInvest is headquartered in Nairobi. KenInvest also operates regional offices in Eldoret, Mombasa and Kisumu.