Requirements For Registering An Investment Club In Uganda

Requirements For Registering An Investment Club In Uganda

An investment club is a group of individuals who meet for the purpose of pooling money and investing; members typically meet on a periodic basis to make investment decisions as a group through a voting process and recording of minutes, or gather information and perform investment transactions outside the group.

Requirements For Registering An Investment Club In Uganda

CENTE INVESTMENT CLUB CURRENT ACCOUNT

A special current account targeted at investment clubs for members that desire to save and invest to either generate income or acquire assets with the aim of improving their level of income and livelihoods and prefer a checking account

Product Features

Opening cash deposit of Ugx.50,000

Minimum balance of Ugx.50,000

Account accessible at any branch

Issue of electronic account statement months

Transaction alerts to selected account managers

Attracts ledger fees

Issue of cheque book on request

Permits cash withdrawal by cheque

Permits deposit by way of cash, wire, mobile banking and cheque

Benefits

Attractive tiered interest rates.

Ability to borrow up to 150% of savings after 6 months of consistent banking

Attractive loan interest rates

A dedicated relationship officer

Free Internal funds transfers through standing orders and direct debits

Access to financial literacy training sessions

Access to business skills training sessions

Opportunity to network among clubs

Opportunity to attend bi-annual Investment clubs forums

Requirements

Opening cash deposit of Ugx.50,000

Copy of Investment Club bye – laws and minutes with a resolution to open the account

Copy of the Investment Club registration certificate

Copy of valid Identity documents for Account signatories including the following:
Valid National Identity Card for Ugandans
Passport for foreigners (Non-Ugandans).
Refugee Identity Card for Refugees.

Two (2) recent Passport photos for the Account signatories

Signatories mandate