Uganda’s young population, large market size, and regional integration make it a lucrative market for foreign investments. Business sectors like technology, construction, agriculture, infrastructure, healthcare, and power attract international investors from all over the world.

The Ugandan government also incentivizes foreign investors with initiatives like the Uganda Investment Authority (UIA), which grants licenses to international investors and promotes investments. Besides, the government has also eased registration processes to simplify foreigners’ entry into the Ugandan market. Here’s what you need to know about it.

Why Register a Company in Uganda

By registering your company in the country, you attain a legal status or identity. It safeguards your business’s interests by allowing you to represent yourself in court against intellectual property theft or other fraudulent activities.

Registering your business also allows you to benefit from government grants and incentives for international investors. You can also access financing, tenders, loans, and other opportunities.

Business registration is the first step in getting licenses, including taxation and trading licenses. As a foreign investor, you should comply with local laws to eliminate the risk of financial and reputational damage.

Uganda is also a member state of the MIGA (Multilateral Investment Guarantee Agency) segment of the World Bank Group. MIGA promotes foreign direct investments in Uganda by providing political risk insurance to foreign businesses. Registering your company will allow you to benefit from MIGA’s assistance.

How to Register a Foreign Company in Uganda

According to Ugandan law, a “company” is a person with the power and capacity to act independently. The Companies Act No.1, formed in 2012, governs the legal framework for companies to form and operate in the country.

A foreign company is any organization incorporated in a different country but planning to carry out business operations in Uganda. Here’s the registration process for such an organization.

Documents Required
You need the following documents to register a foreign company in Uganda:

• List of Directors and Secretary of a Foreign Company (Form 24)
• List of Names and Addresses of person/s resident in Uganda authorized to accept service on behalf of a company incorporated outside Uganda (Form 25)
• Address of the Registered or Principal Office of a company incorporated outside Uganda (Form 26)
• Statement of all Subsisting charges created by the Company (Form 13)
• Statutory Declaration of Solvency embodying a statement of Assets and Liabilities (Form 30)

Besides these forms, you must submit certified copies of the Charter or Memorandum of Articles of Association from your country of origin. After compiling your documents, get an assessment form from the URSB (Uganda Registration Services Bureau) office or conduct a self-assessment and pay the required fees.

You can find the locations and contact details of the URSB’s regional and branch offices here. Alternatively, visit the head office here:
Uganda Registration Services Bureau,
Uganda Business Facilitation Centre Plot 1 Baskerville Avenue, Kololo
Or call the URSB at the toll-free number 0800 100 006 for more details.

Additional Documents
If you have to register or alter a trademark, copyright, patent, or any other intellectual property, you’ll have to file additional forms that you can learn more about here.

Foreign companies may also file the Foreign Company Exemption Form (Form A23) if they are eligible for it. A foreign company incorporated in the Commonwealth can claim exemptions from being obligated to file an annual Profit and Loss Account and balance sheet. Likewise, companies that satisfy all the conditions listed in the form can also claim an exemption from filing annual accounts.

How to Register Your Business Name

Your business name is the title you will use to represent your company in Uganda. First, search if there’s an existing company with the same business name. Your company’s name should be unique and not already in use.

After that, fill in the Business Name Registration form, depending on whether you’re an individual or a corporation. Pay the registration fees and wait to get your certificate.

Additional Steps

Besides business registration, you also need to open a Ugandan bank account and get a business TIN (Tax Identification Number). To get a TIN as a foreign director living in Uganda, you should have a valid passport plus one of the following:

• Work permit for non-East Africans
• National IDs for East-Africans
• Refugee ID for refugees

Non-resident foreign directors must have two ID documents, including a foreign national security card and a valid passport. Once you have the required documents, go to the URA’s website. Click on the E-services tab to apply for a TIN. Check out this resource to learn more about the requirements for companies and partnerships.

Conclusion

Thanks to E-services, registering a business in Uganda is not too complicated. It’s what comes next that poses a challenge to many foreign businesses. Navigating a new market, finding the right partners, ensuring regulatory compliance, and outsourcing the right services can be tricky.

At Trans African Investments, we assist you in all these regards. We offer a vast range of licensed expertise, from commercial and legal services to sourcing investments and navigating market entry. Contacts us today to kickstart your foreign investment process.