PROCEDURE FOR OBTAINING INVESTMENT LICENSE IN UGANDA

Procedure for obtaining investment license in Uganda

1. Apply for an investment license in writing to the executive director and containing the name and address of the proposed business enterprise, its legal form, its bankers, the name and address of each director or partner, as the case may be, and the name, address, nationality and shareholding of any shareholder who is not a citizen of Uganda, the nature of the proposed business activity and the proposed location where that activity is to be carried, the proposed capital structure, amount of investments and the projected growth over the next five years or more, the estimated number of persons to be employed, the qualifications, experience, nationality and other relevant particulars of the project management and staff; the incentives for which the applicant expects to qualify and the details of such Qualifications and any other information relating to the viability of the project or other matter as the applicant considers relevant to his or her application.
2. Where an application does not provide all the relevant information or if clarification is necessary, then you may be called upon to provide that information or clarification to complete the application.
3. Then Authority l appraises the application for an investment license considering the capacity of the proposed business enterprise to contribute to the generation of new earnings or savings of foreign exchange through exports, resource-based import substitution or service activities, the utilization of local materials, supplies and services, the creation of employment opportunities in Uganda, the introduction of advanced technology or upgrading of indigenous technology, the contribution to locally or regionally balanced socioeconomic development; or any other objectives that the authority may consider relevant for achieving the objects of this code.
4. The authority after the receipt of an application, or of the Additional information or clarification, investigates and prepares a detailed report in respect of the application.
5. The authority shall consider the application , the report on the application and approve the application if it is satisfied that the application is in accordance with the provisions of the Investment Code Act and that the activity intended to be undertaken by the business enterprise is not unlawful or contrary to the interests of Uganda.
6. The authority informs the applicant of its decision; and in the case of the authority refusing to grant a license, refer that application, the report on the application and the reasons for the refusal to the Minister and provide that applicant with a copy of the report and the reasons for the refusal of the application.
7. An applicant for an investment license who has not been notified of the decision of the authority within ninety days from the date of submitting his or her application may lodge a complaint in that behalf to the Minister who shall within Thirty days investigate the complaint and inform the complainant of the results of the investigation.
8. When the applicant for an investment license and the authority have agreed on the
   Terms and conditions of the investment license and the incentives, if any, the authority
   shall issue to the applicant an investment license which authorizes the holder of a license to make all arrangements necessary for establishing the business enterprise described in the license; contain the terms and conditions of the investment license and incentives, if any; have a validity of not less than five years from the date of issue; and contain any other information or details as may be prescribed.

Author is A regional transactions legal consultant (ADVOCATE) at NOA REGIONAL ASSOCIATED ADVOCATES AND LEGAL CONSULTANTS
Email address: onlinetransactionconsultancy@gmail.com.

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NOTE: whereas the author has made necessary efforts to ensure the accuracy of this post, it is not intended to provide specific legal advice to a particular individual as individual situations may differ.

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