Form LBOF1 - Register of Beneficial Owners (Limited Liability Partnership)

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Document Overview

Form LBOF1 is the official “Register of Beneficial Owners” for Limited Liability Partnerships (LLPs) in Kenya. It is prescribed under Section 31B of the Limited Liability Partnerships Act, 2011. This form is used to lodge with the Registrar of Limited Liability Partnerships the details of individuals who are the beneficial owners of an LLP, including their identity, contact details, and nature of control or ownership.

The form ensures that beneficial ownership of LLPs is transparent and properly recorded. Its key purposes are:
1. Legal Compliance
- Section 31B of the LLP Act requires LLPs to maintain and file a register of beneficial owners. Form LBOF1 is the statutory format for this.
2. Captures key details such as name, ID/passport, PIN, nationality, address, and date of becoming a beneficial owner, making ownership structures clear.
3. Disclosure of Control
- Requires disclosure of:
% share in profits/capital (direct & indirect).
% of voting rights.
Right to appoint/remove partners or managers.
Significant influence or control over the LLP.
4. Helps government track the real persons behind LLPs, preventing misuse for money laundering, tax evasion, or hidden control.
5. Allows declaration of indirect ownership (e.g., via another partner or manager), ensuring full transparency in layered ownership structures.

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Form LBOF1 - Register of Beneficial Owners (Limited Liability Partnership)

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