Uganda Company Registration: A Complete Guide
Looking for an appealing business location for your next venture? Why not consider Uganda? This guide explains how you can set up a business with the help of our Uganda Company Registration service at 3E Accounting.
Why Consider Uganda?
Uganda is strategically located and rich in natural resources (fertile land, minerals, oils). But more importantly, the country has a business-friendly environment. Similarly, the government has undertaken several reforms to streamline business procedures.
An example of the government’s priority towards the business sector is the establishment of the Registration Services Bureau (URSB), an online platform where investors can perform a range of tasks related to running their business. This includes registering, filing taxes and accessing other online services the latter need to run their business effectively.
Another effort made to make the business start-up process more efficient includes the establishment of one-stop centres. Here, investors can find services like acquiring licenses and permits, registration and more in a single location. Even taxes can be filed electronically now via the Uganda Revenue Authority (URA).
With the help of our Uganda Company Registration services, our 3E Accounting team will ensure a seamless incorporation process from start to finish.
How to Set Up A Business in Uganda
To establish a business and begin the company registration process, here are the steps you need to take:
Choose Your Business Structure
Select the business structure you want for your business. In Uganda, you can choose from options that include Sole Proprietorship, Limited Liability Company (LLC), Public Limited Company (PLC), Partnership, Branch Office, and Representative Office. Ask our experts which business structure would be the best fit for your business needs.
Register Your Business
Once the structure has been decided, get your business registered at the Uganda Registration Services Bureau (URSB). Bring the documents you will need for the registration process, including the application forms and Articles of Association. Our team can help you gather the documentation you need.
Register for a TIN and VAT
Register your business with the Uganda Revenue Authority (URA) and obtain your Tax Identification Number (TIN) and Value Added Tax (VAT) where applicable.
Open A Bank Account
Every business needs a business bank account, and you’ll need to get one once you’ve completed the steps above.
Are There Any Tax Benefits for Businesses?
Yes, businesses in Uganda can benefit from certain tax reliefs and exemptions (subject to terms and conditions). Special tax incentives are available for businesses trading in Uganda’s Free Zones. Free Zones are located in the Entebbe, and Industrial Business Parks in Jinja, Mbale, Arua, Moroto, and Namanve.
Certain sectors and specific industries can benefit from tax holidays and be granted with income tax exemptions for a certain period. Uganda has also signed double tax treaty agreements with several countries, eliminating double taxation on income if you earn it in more than one jurisdiction.
Because it is part of the East African Community (EAC), Uganda enjoys the benefit of regional trade agreements too. This makes cross-border trade and investment a lot easier for businesses.
Talk To Us About Your Business Needs
If you intend to start a business in Uganda, our experts are ready to pave the way. Come talk to us about our Uganda Company Registration services and what it can do for your business. For more information, visit our website and get in touch with our team.