Registration Of Company Limited By Guarantee In Uganda
A company limited by guarantee is a distinct legal entity from its owners and is responsible for its own debts. The personal finances of the company’s guarantors are protected. They will only be responsible for paying company debts up to the amount of their guarantees.
Process For Registration Of Company Limited By Guarantee In Uganda
All limited-by-guarantee corporations must be registered with the appropriate company house, such as Kenya’s Registrar of Companies, Uganda’s registrar of companies, and others, each with its requirements. At least one director and one guarantor are required for a corporation limited by guarantee.
Requirements For Registration Of Company Limited By Guarantee In Uganda
Applicant may purchase a set of prescribed regulations and a set of Form 3A from the in-house bank or via Download.
Provide Consent letter from certified auditor by the Institute of Chartered Auditors and must be registered as a Sole Proprietor/Partnership.
Documents For Registration Of Company Limited By Guarantee In Uganda
Certificate of Incorporation.
Certified Copy(CTC) of Standard/Registered Constitution of the Company.
Certified Copy(CTC) of Form 3.
Benefits For Registration Of Company Limited By Guarantee In Uganda
Safeguard your business name by acquiring a trade name. Access opportunities like loans, tenders, financing etc. Business formalization creates more employment opportunities through business expansion. Enables registration for licenses e.g Investment, trading and taxation licenses.
Cost For Registration Of Company Limited By Guarantee In Uganda
| Service | Details | Costs |
|---|---|---|
| Incorporation of Company without share capital | Registration fees of a company limited by guarantee | UGX 80,000 |
| Stamp Duty of Company limited by Guarantee | UGX 35,000 | |
| Registration of annual returns of a company Limited by Guarantee including a copy of balance sheet | UGX 30,000 |
Advantages Of Registration Of Company Limited By Guarantee In Uganda
They have legal identities separate from its members. Individual members are almost totally protected against liability. They can buy and sell property in the name of the organisation. They can take or defend legal proceedings in its own name.
Disadvantages Of Registration Of Company Limited By Guarantee In Uganda
A potential disadvantage to companies limited by guarantee is that they can experience difficulties with financing. It has no share capital to give it a working capital, so it may rely upon debt finance to run its business.
Office Location For Registration Of Company Limited By Guarantee In Uganda
URSB Contact Info
Location and address; plot 5 George Street, Georgian House
P.O.Box 6848, Kampala
Uganda.