Registering a business in Uganda can be a difficult task, especially if you are a foreigner. Let these guys do it for you for only $ 18,300 USD. Not convinced? Read on:
The goal of the Social Innovation Academy (SINA) is to empower marginalized you to create social enterprises. Over the past five years, we registered more than 40 companies and businesses and we have been increasingly frustrated with the process. We have tried different ways and wish to share our experiences to make it easier for you if you are planning to do the same.
Option 1: Getting a law firm to do it for you
We had a known
and trustworthy law firm do many of the registrations for roughly $ 550 USD per
company. It became to expensive with an increasing number of upcoming SINA
social enterprises and we looked for alternatives. We researched all lawyers
and law firms in Kampala and found 55 of them with email addresses online. We
wrote to all 55 law firms with the same simple email: I need help
registering a company in Uganda and found your firm online. How much would it
cost if you do the process for me?
The results were shocking:
- 5 emails bounced back
- 24 never responded (that is 48 %)!
- The highest fees were unbelievably: $ 2,675 USD
- The average fees asked for were: $ 988 USD
If you want to create a startup, you want to make the best use of every Shilling. 1.000 Dollars for a company registration is absurd.
Option 2: Getting local people or cheap (street) lawyers to support you
Some people have online ads offering their services to register for you. Their fees can be between $ 100 USD to $ 200 USD. Some are even lawyers. Unfortunately, there are a lot of dishonest people out there trying to make an extra income off you. A few years ago, we registered a company, received all documentation and the “Certificate of Incorporation”, paid the person and thought everything is fine. The online name search function on URSB did not exist yet and when it came out, we realized the company was actually never registered. The person produced a fake Certificate and did not pay the official fees but kept it all for himself. There are actually a variety of shops and people available in downtown Kampala who can print a fake “Certificate of Incorporation” for anyone.
Our recommendation is to go with a credible source if you want support in the registration of a company in Uganda.
Option 3: Do it yourself
The Uganda Registration Service Bureau (URSB) is situated in Kampala and responsible for company registrations. Their website offers insights on the requirements and has a name search function to allow you to research which names are already taken and which names might be available.
If you are in Kampala, you can do most of the process yourself within a week. You will need a standard format of the MEMARTS (Memorandum and Articles of Association) outlining your objectives and how the company shall be governed.
To fill official resolutions, we advise again to do it via a credible lawyer (fees are about $ 25 USD) because also here, we have seen sometimes filling fees of resolutions being charged but the resolution actually having never been filled. Unless you go to the registry and check yourself, it is hard to find out if your resolution was really submitted. Stamps on it might make them seem official, however, the stamps can easily be faked.
You will also need the Company Form A9: Particulars of Directors and Secretaries, as well as Company Forms 18 & 20, all can be downloaded from the URSB website or bought at the URSB offices.
Doing everything yourself, the lowest costs you can expect are about $ 75 USD. Waiting time and frustrations will be included for free.
Option 4: We can help you.
We have been cheated and we have been overpriced. Uganda needs jobs to be created and the best way is through business. Some people might give up after cheating or never start after seeing horrendous fees for the registration.
After all the research we have tested the registration with a credible independent lawyer and with a law firm and have been highly satisfied. We wish to offer you the same.
For $ 200 USD we can support you to get your simple registration done (Limited by Shares, Limited by Guarantee or Sole Proprietorship). We would use standard formats and it can be done within one week. We can send you all documents which need to be signed online and you send them back as scans or via post / DHL and you provide us with the desired name of the company, directors, shareholders, etc.
Should you require legal assistance we connect you to the credible law firm we are working with, who will advise you or support you in registering for $ 300 USD (via email or in-person).
Reach out to us now at info@socialinnovationacademy.org to inquire more or have your registration done.
All profits raised will support a group of marginalized Ugandan youth to do their next registration.