Private company limited by sharesUganda
What it takes to form, own and run a private limited company in Uganda, and how its profit is taxed. Each figure links to the page it was read from.
This company type
At a glance
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to the amount, if any, unpaid on the shares respectively held by them
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Any one or more persons may incorporate a company, with or without limited liability
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shall have at least two directors, and every company registered before that date other than a private company and every private company shall have at least one director.
The registry’s and the law’s own pages do not mention it.
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Registration of a company whose nominal share capital does not exceed Uganda Shs.5,000,000
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limited liability companies, companies limited by guarantees, associations and Non-Government Organizations among others are taxed under the company taxation regime.
Form it
Who registers it
- Registry
- Formed without visiting
- Not stated
The registry’s and the law’s own pages do not mention it.
- Formed online
- Yes
What it takes to form
- A notary
- Not stated
The registry’s and the law’s own pages do not mention it.
- A resident director
- Not required
- Paying up the capital
- Not in our records
Own it
Who may own and run it
- Directors
- At least 1 · a company may be one
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shall have at least two directors, and every company registered before that date other than a private company and every private company shall have at least one director.
- Shareholders
- At least 1 · at most 100 · a company may be one
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Any one or more persons may incorporate a company, with or without limited liability
- Members
- At least 1 · at most 100 · one person may form it alone
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Any one or more persons may incorporate a company, with or without limited liability
- A local company secretary
- Not required
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Every company shall have a secretary and a sole director shall not also be secretary.
- A local registered agent
- Not required
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A company shall, as from the day on which it commences to carry on business or as from the fourteenth day after the date of its incorporation, whichever is the earlier, have a registered office and a registered postal address
Each year, at the registry
- Annual registry fee
- UGX 55,000
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Registration of annual returns of a private company with nominal share capital ( Company limited by shares)
- Accounts on the public record
- No
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Subsection (1) does not apply to a private company unless at least one shareholder is a public company.
- Audit for a small company
- Required
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Every company shall at each annual general meeting appoint an auditor
- Audit
- Every company appoints an auditor at each annual general meeting (s.163(1)); no small-company exemption found in the Act.
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Every company shall at each annual general meeting appoint an auditor
Important dates
When each obligation falls due, as the authority states it.
- Annual return to URSB
- Not in our records
With URSB
Not stated on media.ulii.org/media/legislation/111771/source_file/e4755a7b4a8d32df/2012-1.pdf when checked
What is public
- Directors
- Public
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inspect the documents kept by the Registrar, on payment of the prescribed fee
- Shareholders
- Public
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inspect the documents kept by the Registrar, on payment of the prescribed fee
Tax
Tax on profit
How this company type is taxed, which can differ from its place’s headline rate.
Flat · 30%
Companies are taxed at 30% of chargeable income under the Income Tax Act; URA lists limited liability companies under the company taxation regime.
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limited liability companies, companies limited by guarantees, associations and Non-Government Organizations among others are taxed under the company taxation regime.
Work it out on a profit figure: the company’s tax, the owner’s, and what is left.
- CFC rules in Uganda
- Not in our records
Close it
Closing it
The other end, which most guides leave out.
- Route
- Voluntary winding up on a special resolution of the company (Companies Act 2012 s.266), or winding up by the court
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A company may by special resolution resolve to be wound up voluntarily.
- Statutory fee
- Not in our records
Every business in Uganda
VAT
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for Uganda.
Payment and banking services
None of the services whose lists we hold names Uganda. Each provider, and what a listing means.
Reference
Its name and code
- Kind
- Private limited companyDerived our grouping, the same words in every country
- Name in law
- Private company limited by shares
- Identifier
- UG-PRIVATE-LIMITED-BY-SHARESA form ISO 20275 does not list.