Documents Required To Start A Business In Uganda
A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. Business types range from limited liability companies to sole proprietorships, corporations, and partnerships. Business is the practice of making one’s living or making money by producing or buying and selling products. It is also “any activity or enterprise entered into for profit.”
Businesses are made up of individuals working together to meet society’s needs, as well as common goals. Some examples of businesses include Coca Cola, as well as smaller private businesses such as an accounting firm or a local grocery store. Business plays a vital role in our lives. First, they create goods and services to satisfy our needs and wants. Then, they also recruit households as labor and provide them with compensation, such as wages, salaries, and benefits. Thus, it becomes a source of their income, which can be used to sustain their life.
Documents Required To Start A Business In Uganda
Search for the business name.
Reserve the Business Name.
Obtain Certificate of Incorporation.
Obtain an Investment License.
Obtain a Taxpayer Identification Number (TIN)
Obtain a Trading License.
Register with National Social Security Fund (NSSF)
Make a Company Seal.
How Important Is It To Register Your Company Under URSB?
First, it helps to gain legal documents like a certificate of incorporation and postal address that might help you obtain financial loans from any financial institution.
URSB acts like an umbrella for your business name by acquiring a trademark logo/brand.
Business formalization creates more employment opportunities through business expansion.
Obtains better marketing strategies and advertising opportunities for increased customers through domestic and foreign markets.
Boost your level of competitiveness in the regional market with your foreign competitors in the same race.
Benefits Of Registering A Document In Uganda
Registered documents are admissible in the court of law since they have evidential value in the eyes of the law. This means that un-registered documents are not readily acceptable and admissible in a court of law.
Registered documents safeguard the interest of a buyer since they take effect against every un-registered documents relating to the same property. In other words, the registration of documents preserves the title of the buyer.
Registering your document puts it on the government record which renders credibility to the document and makes it a notice to the public at large in respect to the subject matter of the document.
Registering A Document In Uganda
All major features of the document should be clearly and properly represented on each copy of the document.
The document should be presented in triplicate (3 copies) and duly witnessed.
Certifying A Document In Uganda
Present copies of the document to be certified;
Pay the certification fees; and
Hand in the documents and payment receipt at the Business Registry.
How To Register A Local Business In Uganda
1. Search for a business name from the URSB, and this may take up to 30 minutes to receive a notification or confirmation.
2. Name reservation; take it for reservation after selecting your business name. This process may take up to 1hour, and the cost is 20,000ugx. Remember, name reservation takes only 30days to expire or before starting the registration process.
3. Company registration; registration process requires you the following documents; memorandum of understanding and article of association with board resolution signed on by a lawyer, company forms (this one you can pick from URSB or download online), and postal address. The cost for this depends on your company’s share capital.
4. Certificate of incorporation; when you submit relevant documents, the process may take up to 3-7days to pick up your certified copies and certificate of incorporation.
5. Obtain Tin; apply for tax invoice number from Uganda revenue authority; this can be done online or by submitting your certified documents containing a third party to URA’s offices.
6. Apply for a trading license from the local municipal authority; note that this one expires on 31st December of every year.
7. Register with NSSF (National Social Security Funds). Here, you need to take employer forms and employee forms for registration, and this may take up 1-7days and cost-free of charge. Note that NSSF is for all companies registered as private or limited by share capital.
8. Copies of original national identity cards, passport photos, and signatures for directors and secretaries. Note; signatures that appear on registration documents should be similar to those that appear on their national ids.
9. Email address and contacts for your company,
10. Get a company seal or stamp for your company from Posta Uganda.
How To Registering A Foreign Business In Uganda
To register a foreign company in Uganda, the following documents are required for the entire process:
You need certified copies of the Memorandum of Articles of Association/Constitution and certificates from the country of origin.
Registration forms:
Form 24, this form contains the names of directors and secretaries.
Form 13, this form shows statements of all subsiding charges.
Form 25, this form is indicating names and postal addresses for the company.
From 26, to allocate the company’s address and the physical principal’s office.
Other additional documents;
Bill of lading to confirm importation of tools like machinery and tractors.
A copy of the secretary license issued by the Uganda government ministry or department agency to your company
Certificate of approval by the National Environment Management Authority (NEMA)
Cost Of Start A Business In Uganda
Uganda business incorporation costs in Year 1 amount to UGX 36484884.05.
Registering Of Non-Governmental Business In Uganda
Non-Governmental Business are social mission, vision, and objectives that operate independently from government public institutions. Non-Governmental Business, profit-making; instead, they help empower and better our society. To register an Non-Governmental Business in Uganda, one should be obtaining the following documents;
1. Obtaining a certified copy of the incorporation certificate
2. Copy of the organization’s governing documents
3. Approval of payment of the prescribed fees
4. Agreement showing the governance structure
5. Source of funding of the activities of your organization
6. Copies of valid identification documents for at least two founder members
7. Meeting minutes and resolutions of the members authorizing the organization to register with the Bureau
8. A recommendation from; district NGOs monitoring committee where the headquarters are located and government department agencies.
9. Application for registration of an organization assigned by at least two founder members
Registering A Sole Proprietorship Business In Uganda
A sole proprietorship is defined as an individual engaged in the business independently or running a business by themselves and has unlimited liability for the business debt.
Becoming a sole proprietorship in Uganda, you need first to take the following steps to get your company or business fully registered;
a) Register your business with Uganda Revenue Authority to get a formal trade name or brand logo and tax identification number recognized by a legal entity. The following documents are needed
A copy of national identity cards or passport
Completed individual application form
Office Location To Start A Business In Uganda
Business Registration Bureaus
Headquarters Plot 5 George Street, Georgian House
P.O. Box 6848 Kampala Uganda
Phone: +256 414 233 219