In Uganda, you can operate business under two categories 1) as a foreign company or 2) Local company. Foreign companies are companies incorporated outside Uganda but extending their business into Uganda. Local company or business is one that is incorporated and registered in Uganda regardless of the shareholders origin. 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

Why limited Liability?

The biggest benefit of registering your company in Uganda under limited liability is that all your personal assets are safe in case the company goes to drain.

Unless there was fraud you involved in, your personal assets are always safe. When we talk of taxes, you as well have a lot of favors , you as well have the opportunity to show all expenses and pay yourself a salary as a director and consider it as an expense which gives you a lot of taxi favors other than in sole proprietorship where presumptive tax calculation is applied.

Why register a company before anything else?

The more you delay, the more you are likely to lose a name yet you may have initiated business dealings or awareness of the company name.
As an entrepreneur , registering your business/company or trademark as early as possible is the wisest decision ever! 

Twitter as big it is, lost the word “tweet” to a third-party developer. Twitter may be worth billions, but it still can’t claim ownership over the word “tweet” and that means they have lost many million dollars on that alone.
The trademarks office rejected Twitter’s application because of an earlier claim by a third-party developer. Twittad; Twitter-based advertising service, trademarked the phrase “Let Your Ad Meet Tweets” in 2008 and this alone made twiiter lose a fortune it had betted to win on the word “Tweet”

As a business or a company, the same applies to you.. Take an example you start a best foods and quality service restaurant and you call it “Fredo Foods” but you don’t incorporate or register the business name/trademark, few days down the road after building brand loyalty, someone goes and registers the same business name and uses same branding and sets a restaurant on the next street. 
This person will take your customers since they will know it is the same brand and by law he/she can stop you from operating under that name. (Imagine building a brand and you lose it to someone at no cost) in other words, that business . company or organization name can’t be yours unless you register/incorporate/trademark it.

Don’t be left out, register your company and stay safe… The earlier the better. To register a local or foreign company or business in Uganda isn’t that hard as many people think. it doesn’t even cost much. If you use consultants like NBK-Premier Solutions then the process can take you even no hustle. Call/Whatsapp: +256704597816.

About Me

Nicholas K. Quest  >> I am a transformational Author, Consultant and Serial Entrepreneur passionate about helping others to achieve their greatest dreams and ambitions through Transformational education & development programs.

Follow my work through our training/Publishing and Consulting firms respectively: Legacy Pearls Africa, NBK-Premier Solutions, DETT Community. Twitter: @KatushabeN   Facebook: NICHOLAS K QUEST . LinkedIn: NICHOLAS K QUEST Instagram: NICHOLAS K QUEST.

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