Kenya's new anti-money laundering law adds compliance obligations for companies, branches, limited liability partnerships and foreign LLPs
|Tax Alerts, Information Reporting, Legis ...|Kenya
The newly enacted Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Act, 2023 has introduced extensive disclosure obligations for companies, branches, limited liability partnerships (LLPs) and foreign LLPs.
Private companies with a paid-up capital of less than KES* 5,000,000 (approximately US$33,758) are now mandated to appoint either a company secretary, a resident director or a contact natural person with permanent residence in Kenya.
These changes are a welcome develop…
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