Published
Sep 4, 2023
Updates:
Sep 16, 2024
Uganda
Price:
Delivery:
Legal forms:
Payment methods:
3 months
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Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Uganda
$
3000
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Registrar
Abbreviation
Phone
Uganda Registration Services Bureau
URSB
0800 100 006
Location
Capital
Official languages
Population
Currency
ISO 4217
Kampala
Uganda
English, Swahili
48,582,334
UGX
Ugandan Shilling
Delivery
-
Certificate of incorporation
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Articles of association
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Meeting minutes
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Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Uganda
FAQ for company formation in Uganda:
1. What is the process of registering a company in Uganda?
To register a company in Uganda, you need to complete the following steps: (1) Reserve your company name, (2) Obtain a Tax Identification Number (TIN), (3) Register for a Business Registration Certificate (BRC), (4) Register for VAT (if applicable), and (5) Register for employee's payroll tax (if applicable).
2. How long does it take to register a company in Uganda?
The length of time it takes to register a company in Uganda can vary depending on the type of company you are registering and the efficiency of the registration process. Typically, it can take between 1-3 weeks to complete the registration process.
3. What is the minimum capital required to register a company in Uganda?
There is no minimum capital required to register a company in Uganda. However, it is recommended that companies have sufficient capital to carry out their business activities.
4. Can foreigners register a company in Uganda?
Yes, foreigners can register a company in Uganda. However, they may need to obtain certain permits or licenses depending on the nature of their business.
5. What are the types of companies that can be registered in Uganda?
The types of companies that can be registered in Uganda include sole proprietorships, partnerships, private limited companies, public limited companies, and branch offices of foreign companies.
6. What are the tax requirements for companies in Uganda?
Companies in Uganda are required to register for and pay taxes, including corporate income tax, value-added tax (VAT), and employee payroll taxes. The tax rates and requirements vary depending on the nature and size of the business.
7. Do I need a local partner to register a company in Uganda?
No, you do not need a local partner to register a company in Uganda. However, having a local partner can be beneficial for navigating the local business environment and accessing local networks.
8. Can I register a company online in Uganda?
Yes, the registration process for companies in Uganda can be completed online through the e-Registry portal. However, certain steps, such as obtaining a Tax Identification Number (TIN), may require physical presence.
9. What are the annual compliance requirements for companies in Uganda?
Companies in Uganda are required to file annual returns and maintain proper accounting records. The specific compliance requirements vary depending on the type and size of the business.
10. Can I change the name or structure of my company after registration?
Yes, it is possible to change the name or structure of your company after registration. However, the process and requirements for making these changes may vary depending on the type of company and the specific circumstances.
"Uganda's economy has been steadily growing in recent years, with a GDP growth rate of 5.7% in 2019. This growth is largely driven by the services sector, which accounts for over half of the country's GDP. The agricultural sector is also a major contributor to the economy, accounting for about a quarter of GDP. The manufacturing sector is relatively small, but is growing at a rapid rate, with a growth rate of 8.2% in 2019.
The country has seen a steady increase in foreign direct investment (FDI) in recent years, with a total of $1.3 billion in 2019. This is largely due to the country's favorable investment climate and its strategic location in East Africa.
Uganda's unemployment rate is relatively high, at 6.2% in 2019. However, the country has seen a steady decline in poverty levels, with the poverty rate falling from 24.5% in 2006 to 19.7% in 2019.
Overall, Uganda's economy is showing signs of steady growth, with a strong services sector and increasing FDI. The country is also making progress in reducing poverty levels, although unemployment remains a challenge."
In Uganda, both individuals and corporations are subject to taxation.
For individuals, income tax is charged on employment income, business income, and rental income. The tax rates range from 0% to 30%, depending on the income level. There is also a value-added tax (VAT) of 18% on goods and services, as well as excise taxes on certain products like alcohol and tobacco. Additionally, individuals are required to make social security contributions to the National Social Security Fund (NSSF), which is a mandatory savings plan that provides retirement and other benefits.
For corporations, the corporate income tax rate is a flat rate of 30%. However, there are several tax incentives and exemptions available for companies that invest in certain sectors or regions. There is also a VAT of 18% on goods and services, as well as excise taxes on certain products.
The tax payment process in Uganda involves making regular payments of income tax, VAT, and other taxes throughout the year. Employers are required to deduct income tax from their employees' salaries on a monthly basis and remit the tax to the Uganda Revenue Authority (URA) by the 15th of the following month. Self-employed individuals and businesses are required to file and pay their taxes on a quarterly basis. VAT returns are due on a monthly basis, with the tax payable by the 20th of the following month. Excise taxes are also paid on a monthly basis.
The tax calendar in Uganda varies depending on the type of tax, but generally, individual income tax returns are due by June 30th of the following year, while corporate income tax returns are due by March 31st of the following year. VAT returns are due by the 20th of the following month, and excise taxes are due on a monthly basis. It is important to note that these deadlines and payment schedules may be subject to change, and individuals and corporations should consult with a tax professional or the URA for the most up-to-date information.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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