Uganda company registration

Uganda company registration

DOING BUSINESS IN UGANDA

Since 2003, Healy Consultants has been efficiently and effectively assisting our Clients with i) Uganda business registration ii) business licensing iii) Uganda business banking solutions iv) visa options and staff recruitment strategies and v) workspace rental solutions.

Press the link headings below to read detailed, relevant, up to date information.

  • Advantages and disadvantages

    Advantages of Uganda company registration

      Register a company in Uganda
    1. Uganda has been a member of the World Trade Organization since 1995 and thus enjoys all of the benefits of membership;
    2. The economy of Uganda is rapidly expanding, posting growth rates of between 5% and 11% since 2002. The only exception to this was in 2012, where growth dipped to 3.4%. Despite this temporary slowing of the growth rate, progress rebounded to 6% in 2013;
    3. Uganda is rich in natural resources, with plentiful amounts of gold, diamonds, iron ore, nickel and other rare earth metals. The mining industry is expected to grow over the next few years, as the relatively untapped industry is seeing large amounts of foreign and domestic investment. Coffee beans are also a significant Ugandan export;
    4. The government of Uganda has shown a willingness to modernize the economy to best allow for the success of its industries. The government has worked to increase investment in infrastructure, especially in the transport and communication industries, as well as foreign direct investment, which has increased to nearly 20% of GDP;
    5. A Ugandan private limited liability company (LLC) requires only 1 shareholder and 2 directors;
    6. New companies in Uganda do not require a minimum share capital to be paid during formation if our Client chooses to incorporate an LLC;
    7. It is easy to open global corporate bank accounts to support Uganda company formation. Healy Consultants works with internationally recognised banks to provide corporate bank account services.

    Disadvantages of Uganda company registration

    1. Uganda business formation can be slow and complicated. With the assistance of a corporate services provider, Uganda company setup can be completed in an average of 33 days;
    2. Uganda business registration requires a company secretary, though this may be a natural person or an automated service, as well as a registered address. The company secretary does not need to be located at the registered office;
    3. The Ugandan government must inspect your firm’s business premises before granting permission to operate;
    4. A Ugandan LLC is liable for a corporate tax rate of 30%, and may also be liable to pay a sales rate of 18%;
    5. Uganda is only ranked as the 115th most competitive economy in the world on the Global Competitiveness Report 2014 – 2015;
    6. Uganda is ranked as only the 122nd easiest country to do business in. This result from the World Bank lists poor electrical infrastructure, difficulties with cross-border trading, and barriers to starting businesses as the main hurdles to trade;
    7. Uganda is perceived as one of the most corrupt countries in the world, being ranked as the 139th least corrupt country in the world in the 2015 Corruption Perceptions Index by Transparency International;
    8. Uganda was negatively ranked as the 102nd freest economy in the Heritage Foundation’s 2016 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets. This is a significant drop from being ranked 74th in 2012, showing a lack of progress in the country. Sharp declines in financial freedom are cited as the main reason for this.
  • Best uses for a Ugandan company

    1. Infrastructure investments and supply: Uganda has taken advantage of its political stability to exploit its natural resources and use the profits to fund infrastructure investment in the country. Construction materials and supplies are therefore in demand, as are the engineering skills needed to complete these complex projects. Learn more about the Ugandan economy and its infrastructure spending.

Company registration

  • Time to incorporate: Seven weeks
  • Cost to set up: US$18,300
  • Minimum capital: US$0
  • Physical office required: Yes

Required appointments

  • Shareholders: 1
  • Directors: 2
  • Company secretary: Yes
  • Resident director: No

Key facts

  • Corporate tax rate: 30%
  • Corporate tax base: Worldwide
  • Shelf companies: No
  • Main company type: Limited company

Frequently asked questions

Contact us

For additional information on our business registration services in Uganda, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Paavan Chhabra, directly:
client relationship officer - Paavan