Uganda limited liability company (LLC)
- An LLC in Uganda must have a minimum requirement of two directors and one shareholder.
- LLCs in Uganda has no requirement of least paid-up capital. At the end of the company name, the word “Limited” or “Ltd” must be added.
- LLCs are one of the most famous types of businesses known in Ugandan and their shares are not offered to the general public.
- Private limited companies in Uganda have no obligation to appoint a secretary compared to all other companies where the law requires a company secretary.
Uganda public limited company (PLC)
- A PLC has no requirement of least amount of paid up capital for the incorporation of the company. Yet, at least 2 directors as well as 5 shareholders must be appointed to complete the incorporation procedure.
- If the number of the appointed shareholders is below two, the liability of the remaining shareholders will be unlimited after 6 months.
- Public company secretaries are subject to qualification requirements. Anyhow, there is no regulation of company secretaries.
- Unlike an LLC, a PLC can offer its shares to the general public at large.
Uganda branch office
- According to Uganda Companies Law, foreign companies can set up branches in Uganda. In this case the company’s parent will define the company’s operating scope. An Uganda branch office is not considered a separate legal entity therefore its operations is defined and controlled by the parent company.