Uganda, officially the Republic of Uganda, is a landlocked country located in East-Central Africa. Uganda gained its independence from Great Britain in 1962 and has been an independent republic since.
The country has, due to its wet climate and dominantly warm weather, huge agricultural potential, and therefore that part of industry plays a major part in Uganda's economy.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
Sole proprietor in Uganda
A sole proprietor in Uganda is defined as an individual who is engaged in business on their own account and has unlimited liability for the business debts.
Registering as a sole proprietor in Uganda
To become a legal sole-proprietor in Uganda, you need to register with the Uganda Revenue Authority (URA) to obtain a formal trade name and Tax Identification Number, which are used for recognizing a legal entity.
To register as a sole proprietor with the URA, you will need the following documents:
- Copy of two identification documents e.g., driver's permit, voter's card, passport, employer ID, national ID, etc.
- A completed individual application form
Registering a business name in Uganda
Registering your company name is being done at the Registrar's office, and it takes two days to complete and costs UGX 25,000 (EUR 5,6).
The following registration procedures include
- Paying registration fees at the given bank (around RHX 100,000 + RHX 2,500 bank charges)
- Registering at the Uganda Revenue Authority's local office where you gain a Tax Identification Number(TIN), or registering online via URA E-Service