473
[ESTABLISHING A BUSINESS ENTITY IN UGANDA]
x) The
Business Names Registration Rules S.I 109-1
Returns in accordance with the law. 48
xi) The Business Names
iv) Annual
renewal
of
Registration (Amendment) Rules S.I 53 OF 2005
registration the Personal Data Protection Office. v) Renewal of Trade Licenses with under the Kampala Capital City Authority Act Cap 195. vi) Renewal of licenses with the Uganda National Bureau of Standards where necessary.
xii) The Contracts Act Cap 284 xiii) The Income Tax Act Cap 338 xiv) The National Social Security Fund Act Cap 230 xv) The Value Added Tax Act Cap 344 xvi) The Data protection and Privacy Act Cap 97 xvii) The Data Protection and Privacy regulations, 2021 xviii) The Trade (Licensing) Act Cap 101
REQUIREMENTS FOR LOCAL SHAREHOLDING/DIRECTORS;
•
i) All companies except for private companies are required to have a minimum of two directors, while the single member companies can have at least one Director with an alternate Director. Every private company is required to have at least one director. ii) Directors are required to pay tax on any remuneration received as allowances from the companies where they serve as Directors. iii) Directors are required to provide copies of their national identity cards, emails and telephone contacts to the Uganda Registration Services Bureau on appointment. iv) Shareholders are required to sign the Memorandum and Articles of Association at inception as initial subscribers. v) On disposal of their shares, they are required to notify the Registrar of
Maintenance and reporting requirements ;
i) Filing of Annual Tax Returns with the Uganda Revenue Authority, by virtue of the Income Tax Act, Cap 338 47 . Non-resident persons are taxed only on income derived from sources in Uganda. ii) Case by case update of the Beneficial Ownership with the Uganda Registration Services Bureau. iii) Holding of Annual General Meetings and filing of Annual
47 Section 4 of the Income Tax Act, Cap 338
48 Companies Act, Cap 106
ILN Corporate Group – Establishing a Business Entity Series
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