The fees here depend on the type and degree of business you run. For a corporation to be fully registered and eligible for a business license, articles and articles, Form 7 with directors` names, a certificate of incorporation, and a lease or lease agreement are required. When it comes to ease of doing business, the Doing Business 2019 report ranks Uganda 127th out of 190 countries, while the 2018 Global Competitiveness Index ranks Uganda 117th out of 140 countries. Uganda offers a wide range of business opportunities in many different sectors including: food processing, real estate and construction, manufacturing, tourism and hospitality, transport, trade, IT services, energy sector. The Economics and Commerce Division of the U.S. Mission in Kampala provides a range of commercial services aimed at advancing U.S. trade and investment interests, encouraging the United States. Fair exports and a level playing field for all businesses by advocating for open markets, free trade, predictability and transparency in the regulatory environment. We draw on our extensive networks of business contacts and local knowledge to research partners, create company profiles, and provide other business services at the request of U.S.
companies. The Embassy seeks to support Ugandan businesses and individuals who wish to identify U.S. suppliers of goods and services to promote bilateral trade. In Uganda, the company may be for a specific project or an ongoing business relationship. If you plan to have more than 5 employees, this is a step you should not ignore. A company is required to pay NSSF at the rate of 10% to its employees through its various social security accounts. If the last three years have taught us anything, it`s that we can`t survive on the basic 9-5. When you came to this realization, you considered the idea of starting a business. If so, then this is for you. Starting a business in Uganda is easier said than done, and while most Ugandans start a business quickly, they don`t know what it takes to get their business off the ground.
It is no secret that there are thousands of businesses in different districts of Uganda. A business license gives companies the green light to trade within their respective communities. The perfect example is that businesses in Kampala must register with the Kampala Municipal Council Authority (KCCA) to obtain business licenses. The Uganda Data Protection and Privacy Act 2019 (DPPA) came into force on 3 May 2019. In terms of territorial application/scope, the law applies to entities that collect and process personal data in Uganda and outside Uganda in relation to Ugandan citizens. For companies outside Uganda, there is no commercial threshold test, and the trigger for compliance is simply the collection of personal data from a Ugandan citizen. The APD creates a registration requirement. The law requires the National Information Technology Authority to maintain and maintain a data protection register.
If you need more information about investing in Uganda as a foreigner, contact us. The Constitution of Uganda defines a Ugandan citizen as a person born in Uganda, one of whose parents or grandparents is or was a member of the indigenous communities existing and living within Uganda`s borders on the first day of February 1926, and any person born in Uganda or abroad whose parents or grandparents were Ugandan citizens at the time of that person`s birth. by birth. Any person who is not a Ugandan citizen by birth may become a citizen by registration or naturalization. So, by elimination, if your status in Uganda is not provided above, then you are not a citizen does not automatically have the right to set up a business in Uganda. Under non-tax incentives, investors benefit from economies of scale for businesses resulting from well-planned zoning and consolidation of business activities in free zones. plots to be developed subject to availability; Timely processing time during business registration, work permit processing and secondary licences. Business profits in Uganda by non-residents are generally taxable at 15% withholding tax on gross income. According to Uganda`s Investment Law, a company incorporated in Uganda and holding more than 50% of its shares is owned by a foreigner is itself a foreign company. These companies are therefore considered foreigners and should follow the spirit of the law as presented here. Uganda has also implemented the Automated System for Customs Data (ASYCUDA), a web-based application that facilitates the processing of paperless records through the use of scanned or electronic documents. This system was introduced to reduce the cost of doing business and free up time and access to credit through the enactment of a law allowing the use of movable property as collateral for loans.
The Movable Property Security Act 2019 allows for the creation of security rights in various forms of movable property. The electronic register also allows borrowers to convert their movable assets into capital for investment and growth.