Quick Guide To Establishing And Doing Business In Uganda

Introduction

The total area of Uganda is about 241 000 square kilometres of which about 44 000 are covered by fresh water bodies. As per the last population census conducted in 2014, the population of Uganda is approximately 37.58 million. English is the official language. Swahili and Luganda are also spoken. The capital city and seat of Government is Kampala. Other major towns include; Jinja, Mbala, Arua, Entebbe, Gulu and Mbarara. The latest GDP figures is USD$21.49 billion.

The Government of Uganda strongly encourages private investment, both foreign and domestic. Efforts aimed at improving investment climate have been made at different levels such as; by reducing bureaucracy, streamlining the legal framework, fighting corruption and stabilising the economy.

Uganda's fiscal incentive package provides for generous capital recovery terms, particularly for investors whose projects entail significant investment in plant and machinery and whose investments are medium/long term. Uganda also has a fully liberalised foreign exchange regime with no restrictions on the movement of capital in and out of the country.

Formation of a company in Uganda

Local company Companies, both local and foreign must be registered. A local company is one which is incorporated and registered in Uganda or a company whose major shareholding is held by Ugandans and the majority of its business is conducted in Uganda. Foreign companies and branch offices that are required to register as foreign companies.

A local company is one that is incorporated and registered in Uganda. The information required for the incorporation of a local company is as follows:

The proposed name of the Company's business and the proposed principal place of business.

The full names, address, age, nationality, position and other occupations of all members/ shareholders and directors of the proposed company. The share capital of the company and the capital contribution of each member to the company. The statutory minimum number of members/ shareholders required for a limited liability company is one. Note that all the shareholders and directors of the company can be foreigners.

Foreign company Three certified copies of the company's certificate of registration from the Country of origin. Three certified copies of the Memorandum and Articles of Association/ Constitution of the company.

A complete list of all the directors and the secretary of the company, their names, postal addresses...