Company or Business Registration in Uganda with URSB (Uganda Registration Services Bureau): Comprehensive Guide

Company-or-Business-Registration-with-URSB

If you’re gearing up to launch a business in Uganda, your first crucial step is to register your company with the Uganda Registration Services Bureau (URSB). This process is not just a legal requirement but also a vital step in safeguarding your business and establishing its legitimacy. Fortunately, Megatech Uganda is here to assist you through the entire company registration journey, from reserving your business name to obtaining the certificate of incorporation, all at reasonable fees.

Company registration is a pivotal process that formally establishes your business entity with the government. The process involves multiple steps, including name reservation, drafting the Memorandum and Articles of Association, acquiring a Tax Identification Number (TIN), and registering with relevant agencies like the Uganda Revenue Authority. Let’s walk through the process, understand the types of companies in Uganda, and explore the costs involved.

Types of Companies in Uganda

Before diving into the registration process, it’s crucial to grasp the various types of companies in Uganda:

  1. Private Limited Company:
    • Common in Uganda, this type allows a maximum of 50 shareholders.
    • Shareholders’ liability is limited to their investment in the company.
  2. Public Limited Company:
    • Has more than 50 shareholders and can offer shares to the public.
    • Shareholders’ liability is limited to their investment in the company.
  3. Sole Proprietorship:
    • Owned and operated by one person.
    • Owner is personally liable for all business debts and obligations.
  4. Partnership:
    • Two or more people share ownership and management.
    • Partners are personally liable for business debts and obligations.
  5. Non-Governmental Organizations (NGOs):
    • Non-profit organizations registered with the NGO Bureau in the Ministry of Internal Affairs.

Steps to Register a Company in Uganda

Now, let’s break down the process of registering a company in Uganda:

  1. Reserve a Company Name:
    • Start by reserving a unique company name with URSB.
    • The name must differ from existing names in the URSB database.
    • Reserve online or visit URSB offices.
  2. Articles and Memorandum of Association:
    • Draft a legal document outlining the company’s purpose, objectives, share details, and shareholder rights.
    • Can be prepared personally or with legal assistance.
  3. Register with URSB:
    • After obtaining the company name, Articles, Memorandum of Association, and TIN, register with URSB online or in-person.
  4. Obtain a Tax Identification Number (TIN):
    • Acquire a TIN by registering with the Uganda Revenue Authority (URA).
    • Register online or visit URA offices.
  5. Obtain a Trading License from URA:
    • Once registered with URSB, secure a Trading License from URA, a legal requirement for all businesses in Uganda.

Costs Involved in Company Registration

Understanding the costs associated with company registration is crucial. The expenses vary based on company type, required services, and consultant fees. Here are the main costs:

  1. URSB Fees:
    • URSB charges fees for services like name reservation, registration, and certification.
    • Fees depend on company type, issued shares, and other factors.
  2. URA Fees:
    • URA charges fees for services like Trading License issuance and Value Added Tax (VAT) registration.
    • Fees are influenced by business nature, location, and expected turnover.

Registering your company in Uganda involves a series of well-defined steps, each playing a crucial role in establishing your business’s legal standing. With Megatech Uganda’s assistance, navigating through these steps becomes more accessible, ensuring a smoother journey towards officially launching and running your business in Uganda.