10 steps to incorporating in Uganda
- Prior to company incorporation, our Client i) settles Healy Consultants’ incorporation fees ii) signs and returns our Client engagement letter and iii) provides us all the required due diligence documents;
- Healy Consultants drafts a detailed Uganda incorporation engagement project plan. This plan will map out, week by week, each step to engagement completion, optimising transparency and settling Client expectations;
- Healy Consultants assists our Client to decide on i) the proposed company’s name and ii) the optimum corporate structure including selecting appropriate directors and shareholders. Healy Consultants will collect all necessary due diligence from our Client and details of the proposed company’s activities;
- Next, Healy Consultants will carry out a company name search on the Uganda Registration Services Bureau website and thereafter submit the Name Reservation Form and obtain a payment slip. Healy Consultants will then make the necessary payment to reserve this name. After this, Healy Consultants will courier all the incorporation documents to our Client to sign and send back. Upon receipt of the completed documents, we will notarize and submit them;
- The USRB will then issue a payment slip for the business registration and stamp duty. Healy Consultants will proceed to make payment at a designated bank on our Client’s behalf;
- The Office of the Registrar will then issue initial approval and the Certificate of Incorporation after filing of the incorporation documents. Healy Consultants will then arrange for the creation of a company seal;
- As soon as our Client’s company is incorporated, Healy Consultants will register for taxes with the Uganda Revenue Authority to obtain a tax identification number for our Client’s company;
- Our Client will then supply Healy Consultants with a lease agreement for their office premises to be inspected by the URA. The URA will then issue application forms for necessary trade license upon successful inspection. If our Client does not have business premises, Healy Consultants will provide virtual office services for the first six months or until our Client finds a business address;
- Healy Consultants will receive the license assessment form and pay for the license at the designated bank. Healy Consultants will receive the trade license and as is required by law, will proceed to subscribe the Clients’ company to an employee retirement plan with National Social Security Fund;
- Following the Uganda incorporation engagement completion, Healy Consultants will courier a full company kit to our Client, including original documents, unopened bank correspondence and a Client feedback survey.
Frequently asked questions
How many directors and shareholders are required to complete Uganda business incorporation?If our Clients wish to incorporate a Uganda company, they must have at least 1 director and 1 shareholder.
Is it necessary to appoint a resident director when incorporating a company in Uganda?No. When incorporating in Uganda, appointing a resident director is not mandatory.
How much capital is required to complete the Uganda incorporation process?When incorporating in Uganda, only US$1 is required as initial share capital.
What are the pre-requisites for incorporating a business in Uganda?For incorporating in Uganda, our Clients will need to i) reserve the company name with the Uganda Registration Services bureau ii) filing of incorporation documents with the Office of Registrar iii) tax registration with the Uganda Revenue Authority iv) arrange a lease agreement for the premises and v) subscribe the company for an employee retirement plan at the National Social Security Fund.
Are there any restrictions on non-resident entrepreneurs when they incorporate in Uganda?No. Foreign entrepreneurs will be allowed to pursue business activities of their choice.