REGISTERING A SINGLE MEMBER COMPANY IN UGANDA: NEW DEVELOPEMNTS IN THE LAW

Since 2012 when company law in Uganda was reformed and a new legislation, The Companies Act 2012 put in place, several changes were introduced in relation to company formation and management. One of the landmark changes was the introduction of a single member company. Unlike before 2012 where every company had to be constituted of at least two members, a single person, be it individual (natural person) or corporate (artificial entity) may register a company as sole member and shareholder.