Ugandan Business Registration: A Complete Guide For Foreigners

• Published date: 20 December 2022
• Subject Matter: Corporate/Commercial Law, Tax, Venture Capital, Corporate and Company Law, Tax Authorities
• Law Firm: Sidebrief Inc.
• Author: Mrs Eunice Olopade

Uganda has a market-based economy and is generally considered as one of the fastest growing economies in East Africa. This might in part, be due to its young population; growing at a rate of 3% yearly while nearly half of the population is younger than 15 years old. With the most expansive and dynamic industrial base in East Africa. Uganda has been successful in attracting venture capital investments. In fact, in 2021 a very notable search engine (hey, we're not naming names) launched a $50m 'African Investment Fund', to target startups in the early growth stages; with their first touch-point being the Ugandan startup SafeBoda. More and more foreign companies and investors are setting up local and regional operations to take advantage of Uganda's strategic location, comprehensive air routes, and status as a rapidly growing consumer market. Uganda Business registration is also straightforward.

Can a Foreigner do Business in Uganda?

Absolutely, a foreigner looking to start business in Uganda must first register a company and follow due process. This registration will be carried out through the URSB e-services platform and upon registration. The appropriate company registration documents will be issued.

URSB Online Company Registration in Uganda

The Uganda Registration Services Bureau (URSB) lo is the regulatory body in charge of business registrations in Uganda. It recently updated its service charter to improve business delivery timelines required to register a business in Uganda.

How do I register my business in Uganda?

There are two business forms open to foreigners for their Uganda Business registration. These are registering a local company or registering a foreign branch. Most individuals and groups prefer to register a local company for obvious reasons - including limitation of liability and tax purposes.

Now let's look at the process for registering these entities in more detail.

• Local Company/Subsidiary

The procedure of incorporating a local company by a foreigner is essentially identical to the registration of local company by a citizen. There are different types of companies, but most foreign individuals or entities opt for a private company limited by shares.

• Branch Offices

This can be open for companies with a reduced level of activity. These don't generally require incorporation in Uganda, but to register one, certain financial disclosures are required by the parent company.

What is required to register a company in Uganda?

The requirements...