ADVOKS GLOBAL · KENYA
Foreign Investments Protection Act
7. Transfer of profits, etc.
Edition: 2022-12-31 · In force
7. Transfer of profits, etc.
Notwithstanding the provisions of any other law for the time being in force, the holder of a certificate may, in respect of the approved enterprise to which such certificate relates, transfer out of Kenya in the approved foreign currency and at the prevailing rate of exchange—(a)the profits, including retained profits which have not been capitalized, after taxation, arising from or out of his investment in foreign assets:Provided that any increase in the capital value of the investment arising out of the sale of the whole or any part of the capital assets of the enterprise or revaluation of capital assets shall not be deemed to be profit arising from or out of the investment for the purposes of this Act;(b)the capital specified in the certificate as representing and being deemed to be the fixed amount of the equity of the holder of the certificate in the enterprise for the purpose of this Act:Provided that—(i)where any amendment or variation is made in the amount of the said capital under the provisions of section 4, the amended or varied amount shall be substituted for the original amount; and(ii)no additional amount or sum shall be added to the capital specified in the certificate (as amended or varied) to represent any increase in the capital value of the investment since the issue of the certificate or since the last amendment or variation of the certificate; and(c)the principal and interest of any loan specified in the certificate.