In Uganda, a company is seen as a natural person with the legal ability to act on its own. A company can sue and be sued.
One can register both local and foreign companies in Uganda.
Registering a Local Company In Uganda
- Name Reservation
In order for one to register a company they should have an idea of what they want the company to be called. The names are then filled in fully on the application form with the two next best options. If the name is available, it is reserved and the person can go ahead with the registration.
2. Memorandum and Articles of Association
Memorandum of association is what sets up the company. It has the details of who are the subscribers, the shares each gets, the postal addresses, the name of the company, the type of the company, provision of signatures, must be dated and witnessed e.t.c.
While the articles of association state the rules that govern how a company will be run. Also referred to as the company constitution. The articles must be signed by the subscribers and dated by the same.
3. Company Form 20 – Particulars of Directors and Secretaries (Within 14 days)
They are forms attached to the memorandum and articles of association that one is required to fill in and register with the Uganda Registration Services Bureau (URSB) which is an autonomous statutory body mandated to provide accessible, reliable and innovative registration services in Uganda.
One of these is company form 20. This form clearly stipulates the director’s names, addresses, nationality and occupation. It also contains the secretary’s name and address. It's important to note that the directors and secretaries can either be individuals or a corporate body recognised by the law.
4. Company Form 18 – Notice of Situation of Registered Office & Postal Address (within 14 days)
This form basically declares the location of the registered office of the company and stipulates its postal address.
5. Company Form A1- Statement of Nominal capital
This is a mandatory form that states the initial registration of the company. It states the share capital and the value of shares. It must be dated, witnessed and endorsed by the person filing it.