When incorporating, you must look at the law in the country, in Uganda is common law law. Common law jurisdictions are generally regarded as easier to structure. Electronic signatures are permitted.
The letters UG is for Uganda and the most common company type in Uganda is a LLC.
You should expect a wait time of 32 days to put together the paperwork and file a LLC in UG. The minimum share cap is 0, This means you don't have any minimum share capital. The types of currencies you can use to capitalize your business is often legal tender.
Redomiciliation is not common.
There must be at least 1 shareholder. This makes it possible for you to own a LLC in UG by yourself. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is tolerated, up to 100% of the total shareholding.
A company is only required to have one director. Additionally, corporate directors are permitted. Directors should not expect to be private, as they are disclosed. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for a professional firm which can receive any official legal correspondance on behalf of the business. Furthermore, a corporate secretary is a requirement.
There is an obligation to file yearly tax returns. Consequently, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Uganda, URSB. Shareholders are not disclosed in the URSB.
Typically companies take 32 days to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Uganda is a bad option and have given it a score of 31 as an IO score, using the Incorporations.IO proprietary formula.
32 daysto form