Uganda Company Shares

by Mauritio Giancarlo
(Milan Italy)

Question:

Is it required by law that i allocate part of my company shares to a local citizen working for me as a manager to be able to get a trade liscence or work permit.

Answer:

Dear Mauritio,

Good afternoon. I have consulted Uganda Investment Authority (UIA).

The answer is, No, it is not required by Uganda law that an investor allocates some shares to a local manager in order to get a licence. It is only by choice if you decide to do that.

You can have a company which is 100% foreign and you would still qualify for an investment licence, a trade licence and a work permit.

Naturally, however, when you operate a company in Uganda, it would be desirable to have some Ugandan's employed in your company but this is also not compulsory. SL