Company Registration

Company Registration

Company registration

Types of Companies

In Uganda entrepreneurial activity can be developed through several types of companies. In partnerships, such as general partnership and limited partnership, members are jointly and unlimitedly liable; there are no requirements in terms of capital, there are no management bodies. Capital companies (limited liability company, joint stock company and limited partnership with shares) are characterized by a mandatory minimum of capital and management bodies, as well as limited liability of partners or shareholders.

General partnership

Can be formed by two or more natural persons or legal entities who have unlimited and joint liability for the obligations of the company. The capital is formed by capital contributions of the partners, which can be monetary or non-monetary. The capital increases by attracting new partners, capitalization of part of the profit, accumulation of reserves and their transformation into capital. Decrease in capital can result from a partner’s leaving or from covering losses of the company.

Limited partnership

Formed by a contract between two or more persons to carry out commercial activities under a common company, where one or more partners are jointly and unlimitedly liable for the obligations of the company, and the other partners are liable to the extent of their capital contribution. The company is managed and represented by the general partners. The capital is formed from capital contributions of partners with unlimited and limited liability.

Limited Liability Company (Ltd)

Can be formed by one or more persons liable for the obligations of the company to the extent of their contribution in the company’s capital. Each partner is entitled to part of the profit, in proportion to his shares in the capital of the company.

Single-member company

The company is a single-member company when formed by only one natural person or legal entity, who is the sole shareholder. The minimum capital for establishing a limited liability company/single-member limited liability company is (….), and it consists of shares. Management bodies are the General Meeting of partners and the manager/s, who is (are) not necessarily a partner.

Joint Stock Company

A company whose capital is divided into shares. It may be established by one or more natural persons or legal entities. The company is liable to its creditors with its property. The minimum required capital is………

Documents required for registration of limited liability company/single-member limited liability company:

Memorandum of Incorporation - it specifies the scope of business activity, partners’ details, amount of capital, manager’s details

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