General foreign ownership is permitted, subject to sector restrictions and land rules. The Investment Promotion Act allows a foreign investor proposing at least US$100,000 to apply to the Kenya Investment Authority for an investment certificate where the statutory criteria are met and the investment benefits Kenya. The Investment Promotion Act sets the framework.

An investment certificate is a facilitation mechanism, not a universal condition for incorporating or operating every company. It does not replace county, sector, environmental, immigration or product approvals. The application should match a credible business plan showing ownership, capital, activities, site, employment, equipment and implementation.

Before committing capital, examine regulated-sector foreign ownership, local participation, minimum capital and fit-and-proper requirements. Professional services may restrict practice or ownership even where an ordinary company can be incorporated. Land is subject to the constitutional non-citizen leasehold restriction.

Document foreign investment with subscription or loan agreements, corporate approvals, bank evidence and share-register or charge filings. If capital is introduced in equipment, ensure the importer, customs record, ownership and accounting treatment align.

Investment structuring should anticipate exit. Treaty access depends on residence and substance, not a holding company’s label. Model withholding, capital gains, indirect transfers, merger control and licence change of control before selecting the ownership chain.