registering a company in uganda

Registering & Starting a Company in Uganda

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

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Things to Consider while Selecting a Business Name

The starting point of every business, company, brand and any legal structure we know is the business name. All the brands that stand out in our minds are names that were created by the founding team. A company name determines some big percentage of what perception it will create in the minds of the people. Choosing a good business name is very important and it’s key to differentiating you from your competition. Where as industries can have varying business name needs but there are some key things that remain key considerations. These key considerations are not an auto button for business to be successful but truthfully a good name makes some difference. Matched better with quality service, a good business name can take you miles. In my work as a Consultant & Entrepreneur, i realize some people choose their business names basing on emotional grounds (their father’s, mother’s, wife’s or child’s name or even their own name, memories, events, milestones, trends, etc). Some other people prefer to choose names that inspire while some other will go with names they want to portray good qualities about the business. Whatever name you choose, and for whatever reason, is totally up to you

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