April 9, 2020

Registering a Company/Business in Uganda

Uganda is ranked as one of the best investment & business destinations in Africa and as well one of the most entrepreneurial countries in the world. You may be one of the many people intending to start operating a business in Uganda. Whether a foreigner or native, there are easy steps to getting legally operational ranging from registration, licencing, taxation, etc. The first step is registration and it is what we will focus on in this article. Company Registration The regulatory body responsible for business registration is the Uganda Registration Services Bureau (URSB) To register a local company or business in Uganda doesn’t cost much time and resource. If you use consultants like NBK-Premier Solutions on process guide, it becomes even more easier and faster. A local company in Uganda is one that is incorporated and registered in Uganda regardless of the origin of subscribers. It was now made easy in a way that even one person(shareholder) can register a limited liability company unlike in the past when two or more shareholders were needed to form a company. STEP BY STEP GUIDE* The information and process required for the incorporation of a local company is as follows according to URSB;

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How to Obtain a Money Lending Licence in Uganda

Venturing into a money lending business is a good profit-guarantee idea especially in this economic slow down where people need money for emergencies. You need to define your market if you want to be competitive. It will be best if you will be starting up under legal obligations and that’s by obtaining a money lending licence is critical. The money lending business is one of the growing industries due to the fact that people are now being affected by the increasing need to address financial emergencies. Money lending businesses usually provides people the opportunity to gain emergency financial help within less time and at no hassle. If you think about starting your own money lending business but you fear that it will not work, then probably you are missing an opportunity to profit, start today. The most common lending in Uganda is of quick loans starting from 100,000 UGX to 20,000,000 UGX issued upon providing security of sell-able items like computers and laptops, cars, motorcycles, land and more fast moving items. There is also lending for the big sums from 50m to billions. It is all same category and regulated and licenced the same. Under the laws of the government

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