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