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NEXT AMANI
Taste the luxury living at its finest with NEXT in Kenya
Black Friday - Discount 8%
NEXT AMANI
Taste the luxury living at its finest with NEXT in Kenya
Black Friday - Discount 8%
Premium quality
01
Luxury apartments
unique location
Kenya, Africa
02
highest returns
Annual return up to 12%
profitable investment
ROI 7-8 years
04
03
Tatu City, Kenya
Premium apartments
193
Provided Parking
206
Land plot
8,085 m²
There will be arranged commercial areas
Outdoor swimming pool
A restaurant with a modern interior design and gastronomy
A fitness center with the ultra modern fitness equipments
A lobby with a modern interior design
Well-equipped, safe children's entertainment zone
Private garden on the territory of the residential complex
Parking spaces 206
APARTMENT TYPES
One Bedroom #1
Apartment Area
50.3 m²
Balcony Area
Total Area
16.4 m²
Price from
66.7 m²
$90 000
One Bedroom #1
Apartment Area
50.3 m²
Balcony Area
Total Area
16.4 m²
Price from
66.7 m²
$90 000
One Bedroom #2
Apartment Area
50.3 m²
Balcony Area
Total Area
16.4 m²
Price from
66.7 m²
$90 000
One Bedroom #3
Apartment Area
71.0 m²
Balcony Area
Total Area
16.4 m²
Price from
66.7 m²
$90 000
One Bedroom #4
Apartment Area
57.4 m²
Balcony Area
Total Area
18.6 m²
Price from
76 m²
$90 000
Two Bedroom
Apartment Area
84.3 m²
Balcony Area
Total Area
11.6 m²
Price from
95.9 m²
$124 485
Two Bedroom #2
Apartment Area
106.1 m²
Balcony Area
Total Area
31.1 m²
Price from
137.2 m²
$124 485
Two Bedroom #3
Apartment Area
106.1 m²
Balcony Area
Total Area
31.1 m²
Price from
137.2 m²
$124 485
Two Bedroom #4
Apartment Area
106.2 m²
Balcony Area
Total Area
30.1 m²
Price from
136.3 m²
$124 485
Two Bedroom #5
Apartment Area
89.4 m²
Balcony Area
Total Area
30.1 m²
Price from
136.3 m²
$124 485
Two Bedroom #6
Apartment Area
111.0 m²
Balcony Area
Total Area
30.1 m²
Price from
136.3 m²
$124 485
Four Bedroom
Apartment Area
145.5 m²
Balcony Area
Total Area
41.7 m²
Price from
187.2 m²
$229 552
prime location
The project is situated in TATU CENTRAL, the central business district of Tatu City. This area hosts a rich ecosystem featuring parks, forests, and coffee farms. Tatu City is reachable via several major roads and is close to Nairobi, the airport, and Kasarani Stadium.
Designed with sustainability and inclusivity, it seamlessly integrates living, commercial, and recreational zones, fostering a vibrant and self-sustaining community.
HARMONIOUS LIFE YOU DESERVE
NEXT AMANI is located in the business district of Tatu City — TATU CENTRAL. The area incorporates a diverse ecosystem consisting of forests, parks and coffee plantations.
Project combines prosperous living with the exotic charm of nature. This investment complex boasts unmatched elegance and cutting-edge infrastructure, set within stunning landscapes. Located near the renowned Giraffe Manor and featuring a specially designed pathway for giraffes, the project provides a unique opportunity to discover wild tourism. Each moment at AMANI promises an unforgettable experience in a truly distinctive and enchanting setting.
Project combines prosperous living with the exotic charm of nature. This investment complex boasts unmatched elegance and cutting-edge infrastructure, set within stunning landscapes. Located near the renowned Giraffe Manor and featuring a specially designed pathway for giraffes, the project provides a unique opportunity to discover wild tourism. Each moment at AMANI promises an unforgettable experience in a truly distinctive and enchanting setting.
Purchase a branded residence in the safest and easiest way possible
Agreement
We draw up and sign an agreement that secures the right of ownership for you
01
Payment
After making the payment you receive a confirmation statement
02
Registration
Contract is registered with the Ministry of Justice of Georgia
03
You are the owner!
You get the code of your property in the state register. You take the ownership now
04
By filling in the form, you agree to our Privacy Policy
Frequently Asked Questions
For an individual, the following documents will be required:
For any other legal entity, we will require the equivalent of:
- National identity card/passport document
- Kenya Revenue Authority PIN Certificate
- Three coloured passport photographs
For any other legal entity, we will require the equivalent of:
- Certificate of incorporation/registration of the entity
- Kenya Revenue Authority PIN Certificate of the entity
- Company search or the equivalent showing the details of the entity, shareholding, directors/shareholders, share capital etc.
- National identity card/passport documents of the directors/persons authorize to execute documents on behalf of the entity
- Kenya Revenue Authority PIN Certificate of the directors/persons authorize to execute documents on behalf of the entity
- Three coloured passport photographs of the directors/persons authorize to execute documents on behalf of the entity
In this transaction, there are 3 types of documents that buyers will interact with up to completion:
The Offer letter: This is a non-binding document that sets out the broad terms of the transaction i.e. the parties, the purchase price, mode of payment and consequences of default. It is this document that sets off the transaction by expressing each party’s intent and commitment to the transaction.
The Agreement for Sale: This sets out the agreed terms of engagement of the transaction in more detail. Such terms include the obligations of each party, purchase price, terms of payment, default provisions etc. This document can be varied/amended post execution as the terms of the transaction change with time.
The Sub- Lease: This is the instrument that will be registered at the Lands Registry to transfer ownership of the property from Next Group to each buyer and contains the terms and conditions attached to ownership of the property over the lease period. The sub-lease will be subject to the lease that will be granted to Next Group by Tatu City. Once registered, the sub-lease is considered to be a title and is a bankable interest that can be used as security.
The Offer letter: This is a non-binding document that sets out the broad terms of the transaction i.e. the parties, the purchase price, mode of payment and consequences of default. It is this document that sets off the transaction by expressing each party’s intent and commitment to the transaction.
The Agreement for Sale: This sets out the agreed terms of engagement of the transaction in more detail. Such terms include the obligations of each party, purchase price, terms of payment, default provisions etc. This document can be varied/amended post execution as the terms of the transaction change with time.
The Sub- Lease: This is the instrument that will be registered at the Lands Registry to transfer ownership of the property from Next Group to each buyer and contains the terms and conditions attached to ownership of the property over the lease period. The sub-lease will be subject to the lease that will be granted to Next Group by Tatu City. Once registered, the sub-lease is considered to be a title and is a bankable interest that can be used as security.
Stamp Duty is a tax levied on legal instruments such as cheques, receipts, military commissions, marriage licenses, property and land transactions. Stamp duty is payable in different rates depending on the nature of the instrument. In Kenya, the obligation of payment of stamp duty rests on the buyer of a property and is paid to the Government of Kenya through the Kenya Revenue Authority or it’s appointed agents based on the current value of the property. For this specific development, the rate is 4% of the current market value of the property as will be assessed and determined by a government valuer.
The Constitution grants the right of ownership of land in Kenya by any person although like many rights it is not absolute. The Constitution of Kenya states that the maximum tenure a non-citizen of Kenya can hold in land is 99 years. Therefore, once the lease term lapses/expires, the land automatically reverts back to the Government pending an application for renewal or extension.
Renewal Process
The National Land Commission is required to notify the lessee by registered mail, five (5) years before expiry of the leasehold that the lease is about to expire. The notice indicates the date of expiry and notifies the lessee of their pre-emptive right to apply for extension.
In cases where the lessee does not respond to the notice within one year, the Commission shall publish the notice on two newspapers of wide circulation.
An application for renewal or extension of the lease term is made in the prescribed form and lodged at the Central Lands Registry for approval. Once approved, the original title must be surrendered for issuance of a new lease/title with a new term.
Renewal Process
The National Land Commission is required to notify the lessee by registered mail, five (5) years before expiry of the leasehold that the lease is about to expire. The notice indicates the date of expiry and notifies the lessee of their pre-emptive right to apply for extension.
In cases where the lessee does not respond to the notice within one year, the Commission shall publish the notice on two newspapers of wide circulation.
An application for renewal or extension of the lease term is made in the prescribed form and lodged at the Central Lands Registry for approval. Once approved, the original title must be surrendered for issuance of a new lease/title with a new term.
Procedure for Selling/Buying an apartment:
Offer letter
This is a non-binding document that sets out the broad terms of the transaction i.e. the parties, the purchase price, mode of payment and consequences of default. It is this document that sets off the transaction by expressing each party’s intent and commitment to the transaction.
Due Diligence
Due diligence in property transactions is a critical step in ensuring a secure and legally sound property acquisition. It involves conducting a comprehensive investigation and survey of a property to ascertain the identity of the proprietors of the land, the actual size of the land, potential encumbrances, whether the property exists and whether or not the ownership documents are in order before entering into a purchase agreement.
The responsibility of conducting due diligence lies with the purchaser and their advocate. Verifying the property’s status through official searches, site visits and document verification helps safeguard the transaction and ensuring that no issues arise that could challenge the transfer of ownership.
Agreement for Sale
This sets out the agreed terms of engagement of the transaction in more detail. Such terms include the obligations of each party, purchase price, terms of payment, default provisions etc. This document can be varied/amended post execution as the terms of the transaction change with time.
Completion
Having prepared a valid contract, the next step is the process of transferring the interest of the property to the purchaser. On completion, the completion documents consisting of the original title, transfer document, land rates clearance certificate, land rent clearance certificate, stamp duty valuation form and relevant consents are handed over in order to facilitate registration of the transfer of the apartment.
Firstly, valuation is conducted by a Chief Government Valuer (CGV) for assessment of the stamp duty payable. Afterwards, payment of the assessed stamp duty is done by the transferee/purchaser. Thereafter, the application is lodged at the Land Registry for registration of transfer against the title. It is important to note that the buyer bears the costs of the transfer of the interest in their favour.
Taxes
Stamp Duty
For this specific development, the rate is 4% of the current market value of the property as will be assessed and determined by a government valuer.
Value Added Tax (V.A.T)
This is an indirect tax that you pay upon consumption or purchase of taxable goods/services supplied in Kenya. It is computed at 16% the value of the goods or services purchased.
In Kenya Land and Residential Buildings are not subject to V.A.T. However, commercial buildings are subject to V.A.T. V.A.T may also be levied on additional charges that may be required to pay along with your property purchase. It includes cost of transfer or allotment of shares in the property management company and any professional or legal fees charged in the transaction.
Capital Gains Tax(CGT)
This is a tax paid by a vendor on any value appreciation of a property on its transfer and is computed at 15% of the net gain.
Offer letter
This is a non-binding document that sets out the broad terms of the transaction i.e. the parties, the purchase price, mode of payment and consequences of default. It is this document that sets off the transaction by expressing each party’s intent and commitment to the transaction.
Due Diligence
Due diligence in property transactions is a critical step in ensuring a secure and legally sound property acquisition. It involves conducting a comprehensive investigation and survey of a property to ascertain the identity of the proprietors of the land, the actual size of the land, potential encumbrances, whether the property exists and whether or not the ownership documents are in order before entering into a purchase agreement.
The responsibility of conducting due diligence lies with the purchaser and their advocate. Verifying the property’s status through official searches, site visits and document verification helps safeguard the transaction and ensuring that no issues arise that could challenge the transfer of ownership.
Agreement for Sale
This sets out the agreed terms of engagement of the transaction in more detail. Such terms include the obligations of each party, purchase price, terms of payment, default provisions etc. This document can be varied/amended post execution as the terms of the transaction change with time.
Completion
Having prepared a valid contract, the next step is the process of transferring the interest of the property to the purchaser. On completion, the completion documents consisting of the original title, transfer document, land rates clearance certificate, land rent clearance certificate, stamp duty valuation form and relevant consents are handed over in order to facilitate registration of the transfer of the apartment.
Firstly, valuation is conducted by a Chief Government Valuer (CGV) for assessment of the stamp duty payable. Afterwards, payment of the assessed stamp duty is done by the transferee/purchaser. Thereafter, the application is lodged at the Land Registry for registration of transfer against the title. It is important to note that the buyer bears the costs of the transfer of the interest in their favour.
Taxes
Stamp Duty
For this specific development, the rate is 4% of the current market value of the property as will be assessed and determined by a government valuer.
Value Added Tax (V.A.T)
This is an indirect tax that you pay upon consumption or purchase of taxable goods/services supplied in Kenya. It is computed at 16% the value of the goods or services purchased.
In Kenya Land and Residential Buildings are not subject to V.A.T. However, commercial buildings are subject to V.A.T. V.A.T may also be levied on additional charges that may be required to pay along with your property purchase. It includes cost of transfer or allotment of shares in the property management company and any professional or legal fees charged in the transaction.
Capital Gains Tax(CGT)
This is a tax paid by a vendor on any value appreciation of a property on its transfer and is computed at 15% of the net gain.
A lease is an interest for a specific term to own and possess property exclusively at a premium for the determined term.
Short-term leases
This are made for a term of two years or less without an option for renewal. It is not a registrable interest in land.
Periodic Leases
The term of the lease is not specified. It has no agreement in writing but there is occupation and payment of rent. The term is from day to day, week to week, month to month or any other periodic basis to which the rent is payable.
Long term Leases
This is the instrument that will be registered at the Lands Registry to transfer ownership of the property from Next Group to each buyer and contains the terms and conditions attached to ownership of the property over the lease period. The long term sub-leases issued to each buyer will be subject to the lease that will be granted to Next Group by Tatu City. Once registered, the sub-lease is considered to be a title and is a bankable interest that can be used as security.
Taxes
Rental Income Tax (RIT)
Landlords are expected to account for any tax on rental income received minus the expenses that were incurred in generating the rental income. Individuals are taxed at 7.5% on the gross rent received by residents while non-resident individuals pay RIT of 30%.
Monthly Rental Income (MRI) is applicable to persons earning rental income in excess of Kenya Shillings Two Hundred and Eighty Eight Thousand (KES. 288,000.00) but does not exceed Kenya Shillings Fifteen Million (KES. 15,000,000.00).
Property owners with rental income above Kenya Shillings Fifteen Million (KES. 15,000,000.00) per year are required to declare rental income together with income from other sources (if any) while filing their annual income tax returns.
Short-term leases
This are made for a term of two years or less without an option for renewal. It is not a registrable interest in land.
Periodic Leases
The term of the lease is not specified. It has no agreement in writing but there is occupation and payment of rent. The term is from day to day, week to week, month to month or any other periodic basis to which the rent is payable.
Long term Leases
This is the instrument that will be registered at the Lands Registry to transfer ownership of the property from Next Group to each buyer and contains the terms and conditions attached to ownership of the property over the lease period. The long term sub-leases issued to each buyer will be subject to the lease that will be granted to Next Group by Tatu City. Once registered, the sub-lease is considered to be a title and is a bankable interest that can be used as security.
Taxes
Rental Income Tax (RIT)
Landlords are expected to account for any tax on rental income received minus the expenses that were incurred in generating the rental income. Individuals are taxed at 7.5% on the gross rent received by residents while non-resident individuals pay RIT of 30%.
Monthly Rental Income (MRI) is applicable to persons earning rental income in excess of Kenya Shillings Two Hundred and Eighty Eight Thousand (KES. 288,000.00) but does not exceed Kenya Shillings Fifteen Million (KES. 15,000,000.00).
Property owners with rental income above Kenya Shillings Fifteen Million (KES. 15,000,000.00) per year are required to declare rental income together with income from other sources (if any) while filing their annual income tax returns.
In Kenya, registration of any title document occurs after the 2 parties have agreed on the terms of the transaction and all obligations have been fulfilled. In this case, on the buyer’s end, the purchase price and any associated legal costs should have been paid in full and the sales documentation duly signed.
On the seller’s end, the structure being sold should be completed and the requisite approvals granted by the local authorities. Once construction is complete, the developer is required to obtain an occupation certificate from the county government verifying that the structure has been constructed according to the approved building plans and is fit for human occupation. It is only after these approvals are obtained that any Lease can be registered.
The lease term granted will be the remainder of 99 years from 1st November, 2008, which is when Tatu City acquired their title.
On the seller’s end, the structure being sold should be completed and the requisite approvals granted by the local authorities. Once construction is complete, the developer is required to obtain an occupation certificate from the county government verifying that the structure has been constructed according to the approved building plans and is fit for human occupation. It is only after these approvals are obtained that any Lease can be registered.
The lease term granted will be the remainder of 99 years from 1st November, 2008, which is when Tatu City acquired their title.
What is a KRA PIN?
It is a personal identification number which identifies you for purposes of transacting business with Kenya Revenue Authority, other Government agencies and service providers.
What documents do I require to register for a PIN?
For Individuals:
A copy of your national identity card/passport document
For companies:
Copy of Certificate of Incorporation;
Copy of CR12;
Copy of Memorandum and Article of Association;
Copy of PIN Certificate for one of the company's directors;
Copy of Tax Compliance certificate of one of the company’s directors; and
Copy of the Acknowledgement receipt.
How do I register for a PIN?
1. Visit iTax at www.itax.kra.go.ke, to initiate the process.
2. Click on “New PIN registration"
3. Select Taxpayer type
4. Mode of registration (choose either online form or upload form)
5. Business type as "Others" and select the appropriate business sub type
6. Tax Obligations include:
Income Tax Resident/Non - Resident - This is a compulsory tax obligation for both resident and non-resident individuals for purposes of declaring any income earned within a stipulated period of time.
Pay As you Earn - If you are an employer, you are required to register for this obligation. Read more
Turnover Tax - It is applicable to businesses whose turnover (income) does not exceed Kshs. 5 million during any year of income. Mainly for those in the informal sector where tax procedures, computation and record keeping are basic.
Value Added Tax - Any person supplying or who expects to supply taxable goods and taxable services with a value of Kshs 5 Million or more in a year qualifies to register for VAT. The law also allows for voluntary registration.
7. Select your Source of income if any and provide necessary details under source selected
Transactions for which a KRA PIN is required
Registration of titles and stamping of instruments;
Approval of development plans and payment of utility deposits;
Registration of business names; and
Registration of companies.
It is a personal identification number which identifies you for purposes of transacting business with Kenya Revenue Authority, other Government agencies and service providers.
What documents do I require to register for a PIN?
For Individuals:
A copy of your national identity card/passport document
For companies:
Copy of Certificate of Incorporation;
Copy of CR12;
Copy of Memorandum and Article of Association;
Copy of PIN Certificate for one of the company's directors;
Copy of Tax Compliance certificate of one of the company’s directors; and
Copy of the Acknowledgement receipt.
How do I register for a PIN?
1. Visit iTax at www.itax.kra.go.ke, to initiate the process.
2. Click on “New PIN registration"
3. Select Taxpayer type
4. Mode of registration (choose either online form or upload form)
5. Business type as "Others" and select the appropriate business sub type
6. Tax Obligations include:
Income Tax Resident/Non - Resident - This is a compulsory tax obligation for both resident and non-resident individuals for purposes of declaring any income earned within a stipulated period of time.
Pay As you Earn - If you are an employer, you are required to register for this obligation. Read more
Turnover Tax - It is applicable to businesses whose turnover (income) does not exceed Kshs. 5 million during any year of income. Mainly for those in the informal sector where tax procedures, computation and record keeping are basic.
Value Added Tax - Any person supplying or who expects to supply taxable goods and taxable services with a value of Kshs 5 Million or more in a year qualifies to register for VAT. The law also allows for voluntary registration.
7. Select your Source of income if any and provide necessary details under source selected
Transactions for which a KRA PIN is required
Registration of titles and stamping of instruments;
Approval of development plans and payment of utility deposits;
Registration of business names; and
Registration of companies.
Preparation of Deed of Assignment
An assignment agreement (Deed of Assignment) transfers one party’s rights under a contract to another party. The party transferring the rights is the assignor; while the party receiving them is the assignee. Under an assignment, only the benefits of the contract are transferred whilst the obligations remain with the assignor.
Novation is a mechanism where one party transfers all its obligations and rights under a contract to a third party, with the consent of the original counterparty.
The deed of assignment must be registered at the Lands Registry to be legally binding.
An assignment agreement (Deed of Assignment) transfers one party’s rights under a contract to another party. The party transferring the rights is the assignor; while the party receiving them is the assignee. Under an assignment, only the benefits of the contract are transferred whilst the obligations remain with the assignor.
Novation is a mechanism where one party transfers all its obligations and rights under a contract to a third party, with the consent of the original counterparty.
The deed of assignment must be registered at the Lands Registry to be legally binding.
Property inheritance and matters relating to succession are governed by the Law of Succession Act. It covers two main modes of succession:
In both cases, a personal representative is appointed to handle the distribution of the deceased’s assets either according to the will (if testate) or in accordance with the Law of Succession Act (if intestate).
- Testate succession; and
- Intestate succession.
In both cases, a personal representative is appointed to handle the distribution of the deceased’s assets either according to the will (if testate) or in accordance with the Law of Succession Act (if intestate).
Procedure for Selling/Buying an apartment:
Offer letter
This is a non-binding document that sets out the broad terms of the transaction i.e. the parties, the purchase price, mode of payment and consequences of default. It is this document that sets off the transaction by expressing each party’s intent and commitment to the transaction.
Due Diligence
Due diligence in property transactions is a critical step in ensuring a secure and legally sound property acquisition. It involves conducting a comprehensive investigation and survey of a property to ascertain the identity of the proprietors of the land, the actual size of the land, potential encumbrances, whether the property exists and whether or not the ownership documents are in order before entering into a purchase agreement.
The responsibility of conducting due diligence lies with the purchaser and their advocate. Verifying the property’s status through official searches, site visits and document verification helps safeguard the transaction and ensuring that no issues arise that could challenge the transfer of ownership.
Agreement for Sale
This sets out the agreed terms of engagement of the transaction in more detail. Such terms include the obligations of each party, purchase price, terms of payment, default provisions etc. This document can be varied/amended post execution as the terms of the transaction change with time.
Completion
Having prepared a valid contract, the next step is the process of transferring the interest of the property to the purchaser. On completion, the completion documents consisting of the original title, transfer document, land rates clearance certificate, land rent clearance certificate, stamp duty valuation form and relevant consents are handed over in order to facilitate registration of the transfer of the apartment.
Firstly, valuation is conducted by a Chief Government Valuer (CGV) for assessment of the stamp duty payable. Afterwards, payment of the assessed stamp duty is done by the transferee/purchaser. Thereafter, the application is lodged at the Land Registry for registration of transfer against the title. It is important to note that the buyer bears the costs of the transfer of the interest in their favour.
Taxes
Stamp Duty
For this specific development, the rate is 4% of the current market value of the property as will be assessed and determined by a government valuer.
Value Added Tax (V.A.T)
This is an indirect tax that you pay upon consumption or purchase of taxable goods/services supplied in Kenya. It is computed at 16% the value of the goods or services purchased.
In Kenya Land and Residential Buildings are not subject to V.A.T. However, commercial buildings are subject to V.A.T. V.A.T may also be levied on additional charges that may be required to pay along with your property purchase. It includes cost of transfer or allotment of shares in the property management company and any professional or legal fees charged in the transaction.
Capital Gains Tax(CGT)
This is a tax paid by a vendor on any value appreciation of a property on its transfer and is computed at 15% of the net gain.
Offer letter
This is a non-binding document that sets out the broad terms of the transaction i.e. the parties, the purchase price, mode of payment and consequences of default. It is this document that sets off the transaction by expressing each party’s intent and commitment to the transaction.
Due Diligence
Due diligence in property transactions is a critical step in ensuring a secure and legally sound property acquisition. It involves conducting a comprehensive investigation and survey of a property to ascertain the identity of the proprietors of the land, the actual size of the land, potential encumbrances, whether the property exists and whether or not the ownership documents are in order before entering into a purchase agreement.
The responsibility of conducting due diligence lies with the purchaser and their advocate. Verifying the property’s status through official searches, site visits and document verification helps safeguard the transaction and ensuring that no issues arise that could challenge the transfer of ownership.
Agreement for Sale
This sets out the agreed terms of engagement of the transaction in more detail. Such terms include the obligations of each party, purchase price, terms of payment, default provisions etc. This document can be varied/amended post execution as the terms of the transaction change with time.
Completion
Having prepared a valid contract, the next step is the process of transferring the interest of the property to the purchaser. On completion, the completion documents consisting of the original title, transfer document, land rates clearance certificate, land rent clearance certificate, stamp duty valuation form and relevant consents are handed over in order to facilitate registration of the transfer of the apartment.
Firstly, valuation is conducted by a Chief Government Valuer (CGV) for assessment of the stamp duty payable. Afterwards, payment of the assessed stamp duty is done by the transferee/purchaser. Thereafter, the application is lodged at the Land Registry for registration of transfer against the title. It is important to note that the buyer bears the costs of the transfer of the interest in their favour.
Taxes
Stamp Duty
For this specific development, the rate is 4% of the current market value of the property as will be assessed and determined by a government valuer.
Value Added Tax (V.A.T)
This is an indirect tax that you pay upon consumption or purchase of taxable goods/services supplied in Kenya. It is computed at 16% the value of the goods or services purchased.
In Kenya Land and Residential Buildings are not subject to V.A.T. However, commercial buildings are subject to V.A.T. V.A.T may also be levied on additional charges that may be required to pay along with your property purchase. It includes cost of transfer or allotment of shares in the property management company and any professional or legal fees charged in the transaction.
Capital Gains Tax(CGT)
This is a tax paid by a vendor on any value appreciation of a property on its transfer and is computed at 15% of the net gain.
A lease is an interest for a specific term to own and possess property exclusively at a premium for the determined term.
Short-term leases
This are made for a term of two years or less without an option for renewal. It is not a registrable interest in land.
Periodic Leases
The term of the lease is not specified. It has no agreement in writing but there is occupation and payment of rent. The term is from day to day, week to week, month to month or any other periodic basis to which the rent is payable.
Long term Leases
This is the instrument that will be registered at the Lands Registry to transfer ownership of the property from Next Group to each buyer and contains the terms and conditions attached to ownership of the property over the lease period. The long term sub-leases issued to each buyer will be subject to the lease that will be granted to Next Group by Tatu City. Once registered, the sub-lease is considered to be a title and is a bankable interest that can be used as security.
Taxes
Rental Income Tax (RIT)
Landlords are expected to account for any tax on rental income received minus the expenses that were incurred in generating the rental income. Individuals are taxed at 7.5% on the gross rent received by residents while non-resident individuals pay RIT of 30%.
Monthly Rental Income (MRI) is applicable to persons earning rental income in excess of Kenya Shillings Two Hundred and Eighty Eight Thousand (KES. 288,000.00) but does not exceed Kenya Shillings Fifteen Million (KES. 15,000,000.00).
Property owners with rental income above Kenya Shillings Fifteen Million (KES. 15,000,000.00) per year are required to declare rental income together with income from other sources (if any) while filing their annual income tax returns.
Short-term leases
This are made for a term of two years or less without an option for renewal. It is not a registrable interest in land.
Periodic Leases
The term of the lease is not specified. It has no agreement in writing but there is occupation and payment of rent. The term is from day to day, week to week, month to month or any other periodic basis to which the rent is payable.
Long term Leases
This is the instrument that will be registered at the Lands Registry to transfer ownership of the property from Next Group to each buyer and contains the terms and conditions attached to ownership of the property over the lease period. The long term sub-leases issued to each buyer will be subject to the lease that will be granted to Next Group by Tatu City. Once registered, the sub-lease is considered to be a title and is a bankable interest that can be used as security.
Taxes
Rental Income Tax (RIT)
Landlords are expected to account for any tax on rental income received minus the expenses that were incurred in generating the rental income. Individuals are taxed at 7.5% on the gross rent received by residents while non-resident individuals pay RIT of 30%.
Monthly Rental Income (MRI) is applicable to persons earning rental income in excess of Kenya Shillings Two Hundred and Eighty Eight Thousand (KES. 288,000.00) but does not exceed Kenya Shillings Fifteen Million (KES. 15,000,000.00).
Property owners with rental income above Kenya Shillings Fifteen Million (KES. 15,000,000.00) per year are required to declare rental income together with income from other sources (if any) while filing their annual income tax returns.
In Kenya, registration of any title document occurs after the 2 parties have agreed on the terms of the transaction and all obligations have been fulfilled. In this case, on the buyer’s end, the purchase price and any associated legal costs should have been paid in full and the sales documentation duly signed.
On the seller’s end, the structure being sold should be completed and the requisite approvals granted by the local authorities. Once construction is complete, the developer is required to obtain an occupation certificate from the county government verifying that the structure has been constructed according to the approved building plans and is fit for human occupation. It is only after these approvals are obtained that any Lease can be registered.
The lease term granted will be the remainder of 99 years from 1st November, 2008, which is when Tatu City acquired their title.
On the seller’s end, the structure being sold should be completed and the requisite approvals granted by the local authorities. Once construction is complete, the developer is required to obtain an occupation certificate from the county government verifying that the structure has been constructed according to the approved building plans and is fit for human occupation. It is only after these approvals are obtained that any Lease can be registered.
The lease term granted will be the remainder of 99 years from 1st November, 2008, which is when Tatu City acquired their title.
What is a KRA PIN?
It is a personal identification number which identifies you for purposes of transacting business with Kenya Revenue Authority, other Government agencies and service providers.
What documents do I require to register for a PIN?
For Individuals:
A copy of your national identity card/passport document
For companies:
Copy of Certificate of Incorporation;
Copy of CR12;
Copy of Memorandum and Article of Association;
Copy of PIN Certificate for one of the company's directors;
Copy of Tax Compliance certificate of one of the company’s directors; and
Copy of the Acknowledgement receipt.
How do I register for a PIN?
1. Visit iTax at www.itax.kra.go.ke, to initiate the process.
2. Click on “New PIN registration"
3. Select Taxpayer type
4. Mode of registration (choose either online form or upload form)
5. Business type as "Others" and select the appropriate business sub type
6. Tax Obligations include:
Income Tax Resident/Non - Resident - This is a compulsory tax obligation for both resident and non-resident individuals for purposes of declaring any income earned within a stipulated period of time.
Pay As you Earn - If you are an employer, you are required to register for this obligation. Read more
Turnover Tax - It is applicable to businesses whose turnover (income) does not exceed Kshs. 5 million during any year of income. Mainly for those in the informal sector where tax procedures, computation and record keeping are basic.
Value Added Tax - Any person supplying or who expects to supply taxable goods and taxable services with a value of Kshs 5 Million or more in a year qualifies to register for VAT. The law also allows for voluntary registration.
7. Select your Source of income if any and provide necessary details under source selected
Transactions for which a KRA PIN is required
Registration of titles and stamping of instruments;
Approval of development plans and payment of utility deposits;
Registration of business names; and
Registration of companies.
It is a personal identification number which identifies you for purposes of transacting business with Kenya Revenue Authority, other Government agencies and service providers.
What documents do I require to register for a PIN?
For Individuals:
A copy of your national identity card/passport document
For companies:
Copy of Certificate of Incorporation;
Copy of CR12;
Copy of Memorandum and Article of Association;
Copy of PIN Certificate for one of the company's directors;
Copy of Tax Compliance certificate of one of the company’s directors; and
Copy of the Acknowledgement receipt.
How do I register for a PIN?
1. Visit iTax at www.itax.kra.go.ke, to initiate the process.
2. Click on “New PIN registration"
3. Select Taxpayer type
4. Mode of registration (choose either online form or upload form)
5. Business type as "Others" and select the appropriate business sub type
6. Tax Obligations include:
Income Tax Resident/Non - Resident - This is a compulsory tax obligation for both resident and non-resident individuals for purposes of declaring any income earned within a stipulated period of time.
Pay As you Earn - If you are an employer, you are required to register for this obligation. Read more
Turnover Tax - It is applicable to businesses whose turnover (income) does not exceed Kshs. 5 million during any year of income. Mainly for those in the informal sector where tax procedures, computation and record keeping are basic.
Value Added Tax - Any person supplying or who expects to supply taxable goods and taxable services with a value of Kshs 5 Million or more in a year qualifies to register for VAT. The law also allows for voluntary registration.
7. Select your Source of income if any and provide necessary details under source selected
Transactions for which a KRA PIN is required
Registration of titles and stamping of instruments;
Approval of development plans and payment of utility deposits;
Registration of business names; and
Registration of companies.
Preparation of Deed of Assignment
An assignment agreement (Deed of Assignment) transfers one party’s rights under a contract to another party. The party transferring the rights is the assignor; while the party receiving them is the assignee. Under an assignment, only the benefits of the contract are transferred whilst the obligations remain with the assignor.
Novation is a mechanism where one party transfers all its obligations and rights under a contract to a third party, with the consent of the original counterparty.
The deed of assignment must be registered at the Lands Registry to be legally binding.
An assignment agreement (Deed of Assignment) transfers one party’s rights under a contract to another party. The party transferring the rights is the assignor; while the party receiving them is the assignee. Under an assignment, only the benefits of the contract are transferred whilst the obligations remain with the assignor.
Novation is a mechanism where one party transfers all its obligations and rights under a contract to a third party, with the consent of the original counterparty.
The deed of assignment must be registered at the Lands Registry to be legally binding.
Property inheritance and matters relating to succession are governed by the Law of Succession Act. It covers two main modes of succession:
In both cases, a personal representative is appointed to handle the distribution of the deceased’s assets either according to the will (if testate) or in accordance with the Law of Succession Act (if intestate).
- Testate succession; and
- Intestate succession.
In both cases, a personal representative is appointed to handle the distribution of the deceased’s assets either according to the will (if testate) or in accordance with the Law of Succession Act (if intestate).
DISCOVER THE HEARBEAT OF KENYA
We're excited to announce that NEXT is diving into a thrilling new project in the lively Tatu City of Kenya.
Kenya, Africa
Kenya, situated in East Africa, welcomes you with its rich tapestry of nature, culture, and traditions. From the wildness of the Maasai Mara to the majesty of Nairobi, every corner of Kenya pulsates with life and energy, offering an unforgettable adventure waiting to be explored.
Kenya, Africa
Kenya, situated in East Africa, welcomes you with its rich tapestry of nature, culture, and traditions. From the wildness of the Maasai Mara to the majesty of Nairobi, every corner of Kenya pulsates with life and energy, offering an unforgettable adventure waiting to be explored.
Kenya's Charms
Masai Mara, Lake Nakuru, Diani Beach, Amboseli,Nairobi's Nation Park, Lamu Town
Nairobi National Park
Situated just a short drive from the city center, Nairobi National Park is unique as it's the only national park in the world located within a capital city. Despite its proximity to urban life, the park is home to a wide variety of wildlife, including lions, giraffes, zebras, and rhinos. Visitors can enjoy game drives, guided walks, and even a visit to the Nairobi Animal Orphanage.
Situated just a short drive from the city center, Nairobi National Park is unique as it's the only national park in the world located within a capital city. Despite its proximity to urban life, the park is home to a wide variety of wildlife, including lions, giraffes, zebras, and rhinos. Visitors can enjoy game drives, guided walks, and even a visit to the Nairobi Animal Orphanage.
Hell's Gate National Park
Hell's Gate National Park: Located about 90 kilometers northwest of Nairobi, Hell's Gate National Park is known for its stunning landscapes, including towering cliffs, gorges, and hot springs. The park offers opportunities for hiking, rock climbing, and biking amidst breathtaking scenery. It's also famous for its role as the inspiration for Disney's "The Lion King."
Kenya Vision 2030
«Kenya Vision 2030» is a development program launched in 2008 with the goal of elevating Kenya's average standard of living to a middle-income by 2030.
«Kenya Vision 2030» is built on three pillars: Economic, Social, and Political. It aims to improve across 10 sectors, including Infrastructure, Science, Technology and Innovation, Public Sector Reforms, Tourism, Agriculture, Trade, Manufacturing, Business Process Outsourcing & Information Communication & Technology, Financial Services, and Education & Training.
«Kenya Vision 2030» is built on three pillars: Economic, Social, and Political. It aims to improve across 10 sectors, including Infrastructure, Science, Technology and Innovation, Public Sector Reforms, Tourism, Agriculture, Trade, Manufacturing, Business Process Outsourcing & Information Communication & Technology, Financial Services, and Education & Training.
Tatu City
Developed by Rendeavour, Africa's largest new city developer, Tatu City provides a vibrant live-work-play environment for over 250,000 residents and attracts numerous visitors.
It features schools, various housing options, and a thriving Special Economic Zone hosting over 78 businesses. Tatu City has revolutionized lifestyle in Kenya, offering reduced traffic and shorter commutes.
It features schools, various housing options, and a thriving Special Economic Zone hosting over 78 businesses. Tatu City has revolutionized lifestyle in Kenya, offering reduced traffic and shorter commutes.
NEXT'S First Steps in Africa
Taste the luxury living at its finest with NEXT in Kenya. Our project in the heart of
the country offers exceptional infrastructure,
outdoor and indoor attractions, and
recreation centers, all designed to elevate
your lifestyle.
Discover a community where high standards of excellence meet unparalleled comfort. Unlock your NEXT realms of life in Kenya.
Discover a community where high standards of excellence meet unparalleled comfort. Unlock your NEXT realms of life in Kenya.
NEXT'S First Steps in Africa
Taste the luxury living at its finest with NEXT in Kenya. Our project in the heart of
the country offers exceptional infrastructure,
outdoor and indoor attractions, and
recreation centers, all designed to elevate
your lifestyle.
Discover a community where high standards of excellence meet unparalleled comfort. Unlock your NEXT realms of life in Kenya.
Discover a community where high standards of excellence meet unparalleled comfort. Unlock your NEXT realms of life in Kenya.
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OUR OFFICES
Georgia
Batumi, Kostava st. 20
Batumi, Luka Asatiani st. 18
Batumi, Luka Asatiani st. 18
Monday - Sunday from 10 am to 7 pm
Ukraine
Kiyv, Pavel Tychina Avenue 1B
Monday - Friday from 10 am to 7 pm
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Almaty, Tole Bi st. 55«City hub» - First floor
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Dubai, Central One District C1 Building
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Tatu city
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