Uganda
Corporate Guide

Is there a requirement to declare beneficial ownership in Uganda?

Yes. There is a requirement to declare beneficial ownership to the Registrar of Companies. This is stipulated under Section 116 of the Act, which requires a company to keep a register of beneficial owners that is stored at its registered office or any other place designated by the company. The company must forward the particulars of the beneficial owners to the Companies Registry under the standard form; the Notice of Beneficial Owners Particulars (Form 1). Further to that, section 6 of the Anti-Money Laundering (Amendment) Act, 2017 provides for the identification of beneficial owners after the establishment of the business relationship as well as other anti-money laundering measures. 

There are statutory forms provided for this purpose which include: the Notice of Beneficial Owners Particulars (Form 1); the Notice of Change of Particulars of Beneficial Owners (Form 2); and the Application to Inspect Particulars of Beneficial Owners / Copy of Extract (Form 3).