Uganda Overview
Business leaders considering market entry into Uganda require a clear perspective on the operational, regulatory and employment requirements for a successful take-off. Here’s what you need to know…
Capital: Kampala
Area: 241,038 sq. km
Languages: Luganda, English
Life expectancy: 62.85 years
Population: 45.85 million
President: Yoweri Kaguta Museveni
Type of Government: Unitary republic with multi-party democracy
Time zone: GMT + 3
Currency: Uganda Shilling (UGX)
Calling code: +256
Economic drivers: Services is the biggest contributor to Uganda’s GDP (41.6%) followed by Industry (26.8%) and agriculture (24.1%).
Investment freedom: The 2019 Index of Economic Freedom ranked Uganda as the 8th freest economy out of the 47 Sub-Saharan African countries.
Investment opportunity: Uganda offers a well-regulated and highly liberalized economy that welcomes investments across all sectors. The country allows free movement of capital, both inbound and outbound, creating a favourable environment for potential investors.
Sources: Demographic yearbook by the UN Statistics Division, United Nations: Department of Economic and Social Affairs | Statistics.
What we offer
Forms of incorporation
The Companies Act of 2012 acknowledges several types of companies, which include:
- Companies limited by shares (either private or public)
- Companies limited by guarantee
- Unlimited companies
- Foreign companies
Foreign investors commonly establish a presence in Uganda through two methods: registering a branch of a foreign company (Foreign Company) or incorporating a local company. The latter option is more prevalent due to the advantages of separating the subsidiary from the parent company and the familiarity of regulators with this setup. Licensing procedures for subsidiaries are often easier compared to branches.
Company set-up support
- Incorporation of subsidiary companies (Limited liability companies)
Our support includes undertaking name reservation, preparing the required documents, executing incorporation papers and submitting applications to the Registrar of Companies.
- Set up of statutory records
We offer support in preparing and issuing of share certificates, preparing the first minutes and inaugural resolutions, establishing member registers, registers of directors and registers of secretaries, and purchasing company seals and stamps.
- Assistance in opening company bank accounts
Our work includes preparing the necessary board resolutions and extracts for opening bank accounts, gathering supporting documents, and providing any required company secretary certifications requested by banks.
Regulatory compliance
- Application for business licenses
It is mandatory by law to acquire business licenses before commencing any business activities. Our team is available to offer support throughout the business license acquisition process, which involves:
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- Collating the required company documents and making business license applications.
- Facilitating the assessment and payment of the license fees.
- Following up and collecting licenses.
- Application for Value-Added Tax (VAT) certificates
We offer support in applying for VAT registration numbers and acquiring Value Added Tax (VAT) certificates. We also facilitate the purchase and registration of electronic tax devices.
- Registration with the National Social Security Fund (NSSF)
Our services include facilitating the registration process, following up on the applications, and ensuring that the registration certificates are issued. Additionally, we also help companies register their employees with the NSSF, subject to different agreements.
- Beneficial ownership disclosures
Every company must identify and maintain a register of its ultimate beneficial owners, and submit their details to the Registrar of Companies. Adili is at hand to offer support in complying with the regulations around business ownership disclosures.
Employment and immigration matters
- Immigration support services
We provide professional immigration services based on the latest related country’s immigration laws, professional advice and guidance on the requirements and procedures.
- Payroll services
We offer end-to-end payroll services, supported by top-of-the-line technologies that are key to efficiency and compliance in any organisation.
- Accounting & bookkeeping services
We offer efficient, scalable, and cost-effective accounting and bookkeeping services, designed to seamlessly plug into your business systems. We take care of your accounting needs using reliable accounting systems and reporting tools. Our package comprises a dedicated team of professionals to provide end-to-end accounting services that match your needs.
Planning your market entry strategy
Talk to our experts
Adili Corporate Services Uganda Limited,
4th Floor, AHA Towers
Plot 7 Lourdel Road, Nakasero
P.O. Box 28556 Kampala, Uganda
Tel: +256 772 451 960
Email: info@staging.adili.africa
