Uganda Today Edition: Over 1,000 Ugandan Companies Face Deregistration for Non-Compliance
Kampala, Uganda – The Uganda Registration Services Bureau (URSB) has issued a stern warning that over 1,000 registered companies in the country face imminent deregistration due to non-compliance with statutory requirements. The affected companies have failed to file their annual returns as mandated by law, despite repeated reminders and an extended deadline granted by the government.
Legal Basis for Deregistration
According to Mr. Denise Nabende, the Public Relations Officer for URSB, the deadline for compliance was set for February 7, 2025, to allow all businesses ample time to regularize their records through the online registration and incorporation system. “The Companies Act, 2012, under Section 134, empowers URSB to remove from the register any company that fails to file annual returns within the stipulated period. We have given these companies more than enough time, and failure to comply will lead to their deregistration,” Nabende stated.
Uganda’s Move to a Fully Digitized Business Registry
The move comes as part of a broader initiative to streamline Uganda’s business sector by ensuring that only active and compliant companies remain in the official registry. URSB has undergone extensive digitization, enabling individuals and corporate entities to register their businesses and file annual returns online. This shift aims to improve efficiency, reduce bureaucracy, and enhance transparency in Uganda’s corporate sector.
“We have provided a seamless online platform where all businesses can register and manage their compliance obligations without physically visiting our offices. Companies that fail to meet their statutory obligations risk deregistration, which could have serious implications on their ability to conduct business legally,” Nabende added.
Consequences of Deregistration
Businesses that are deregistered will lose their legal status, making it impossible for them to enter into contracts, open bank accounts, or engage in formal business operations. URSB has urged all defaulting companies to take immediate action and ensure compliance before enforcement measures take effect.
Call for Business Compliance
The bureau also called on business owners and directors to take corporate governance seriously and adhere to regulatory requirements. “Compliance is not optional; it is a legal duty. We encourage all companies to take advantage of our digital services to avoid penalties and deregistration,” Nabende emphasized.
Final Warning and Next Steps
URSB has assured the public that the enforcement process will be fair and transparent, with affected companies given a final notice before their names are struck off the register. The agency continues to encourage all businesses to verify their compliance status and take the necessary corrective measures to avoid deregistration.
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