Uganda transactional account checklist

Uganda Transactional Account – Rest of Africa
The following support documentation are pre-requisites to the bank's documentation process of opening a
transactional business banking account.
This is specific to a business banking client in South Africa wanting to transact in Uganda.
Checklist
Companies Incorporated in Uganda:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Return of allotment/annual returns - should be registered and certified by Registrar of
companies/Business names.
See note 2.
Identity documents of primary and related parties.
See note 3.
Notification of change of directors or secretary - should be registered and certified by
Registrar of companies/Business names.
See note 4.
Particulars of directors and secretary/trustees - should be registered and certified by
Registrar of companies/Business names.
See note 5.
Profiles of primary and related parties.
See note 6.
Memo and articles of association or parent statute - should be registered and certified by
Registrar of companies/Business names.
Certificate of incorporation - should be registered and certified by Registrar of
companies/Business names.
Proof of permanent address.
See note 7.
Company Search.
Trading License.
Tax Identification Number (TIN).
Checklist
Non-resident companies:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Certificate of registration - should be registered and certified by Registrar of
companies/Business names.
Return of allotment/annual returns - should be registered and certified by Registrar of
companies/Business names.
See note 2.
Identity documents of primary and related parties.
See note 3.
Notification of change of directors or secretary - should be registered and certified by
Registrar of companies/Business names.
See note 4.
Particulars of directors and secretary/trustees - should be registered and certified by
Registrar of companies/Business names.
See note 5.
Profiles of primary and related parties.
See note 6.
Memo and articles of association or parent statute - should be registered and certified by
Registrar of companies/Business names.
Certificate of incorporation - should be registered and certified by Registrar of
companies/Business names.
Proof of permanent address.
See note 7.
Company Search.
Checklist
NGO's and Churches:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Certificate of registration - should be registered and certified by Registrar of
companies/Business names.
Identity documents of primary and related parties.
See note 3.
Notification of change of directors or secretary - should be registered and certified by
Registrar of companies/Business names.
See note 4.
Particulars of directors and secretary/trustees - should be registered and certified by
Registrar of companies/Business names.
See note 5.
Profiles of primary and related parties.
See note 6.
Proof of permanent address.
See note 7.
Constitution/ Trust Deed.
Checklist
Ministries/ Public Sector/ Government accounts/ Parastatals:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Identity documents of primary and related parties.
See note 3.
Profiles of primary and related parties.
See note 6.
Memo and articles of association or parent statute - should be registered and certified by
Registrar of companies/Business names.
Proof of permanent address.
See note 7.
Checklist
Trusts:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Certificate of registration - should be registered and certified by Registrar of
companies/Business names.
Identity documents of primary and related parties.
See note 3.
Particulars of directors and secretary/trustees - should be registered and certified by
Registrar of companies/Business names.
See note 5.
Profiles of primary and related parties.
See note 6.
Proof of permanent address.
See note 7.
Constitution/ Trust Deed.
Checklist
Societies and clubs:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Identity documents of primary and related parties.
See note 3.
Proof of permanent address.
See note 7.
Constitution/ Trust Deed.
Checklist
Partnerships:
Customer Information Form
Signature Card
Board resolution/authorization to open account - should be registered and certified by
Registrar of companies/Business names.
See note 1.
Identity documents of primary and related parties.
See note 3.
Proof of permanent address.
See note 7.
Partnership mandate or deed.
Statement of Particulars pursuant to the registration of the business - should be registered
and certified by Registrar of companies/Business names.
Trading license.
Checklist
Sole Proprietorship:
Customer Information Form
Signature Card
Certificate of registration - should be registered and certified by Registrar of
companies/Business names.
Identity documents of primary and related parties.
See note 3.
Profiles of primary and related parties.
See note 6.
Proof of permanent address.
See note 7.
Statement of Particulars pursuant to the registration of the business - should be registered
and certified by Registrar of companies/Business names.
Trading license.
Work permits for foreigners.
Checklist
Individuals:
Customer Information Form
Signature Card
Identity documents of primary and related parties.
See note 3.
Profiles of primary and related parties.
See note 6.
Proof of permanent address.
See note 7.
Work permits for foreigners.
Notes
1. Resolutions apply to companies, Authorization can be in form of Minutes or letter from
authorities with the powers to grant it.
2. Latest annual returns are filed annually by the company and required for purposes of Annual
KYC reviews.
3. A Return of allotment is a form that shows number of shares allocated to respective
shareholders issued upon allotment of shares.
4. Acceptable identity documents include but not limited to: National identity card, Valid
passport, work identity card, NSSF identity card (Ugandan Nationals), driver’s license, School or
University identity cards, Refuge identification card, identity cards issued by local councils, voters
card, LC letter as long as it bears a photo and is stamped across the photo and signed, foreign
nationals are to only use passports for identification, CRB cards.
5. Notification of change of directors or secretary is required as and when the directors and or
secretaries of a company change.
6. Particulars of the directors and secretaries apply to only companies and for trustees we
require proof of appointment and acceptance of appointment.
7. Profile information includes; Particulars of shareholders, Board of directors, Senior
management, source of income, Annual net income and Nationality.
For accounts with a turnover greater than UGX 50 Million, perform Customer Due Diligence on all
Shareholders that have a 15% and above shareholding. Accounts with a turnover of less than
UGX 50 million. Customer Due Diligence on all Shareholders that have a 20% and above
shareholding
8. For proof of address any of the following can be obtained:- Recent utility bills (Not older
than 3 months), Government / local authority bills, Introduction from LC, employer, existing
financial institution, Advocate, clergy man, headmaster other Bank statements bearing
customer’s address, National Identity Card (Photocopy the back of the National ID) . For
companies, must be the statutory company form 7 registered with registrar of companies.
Contact us
Eastern African Region including surrounding countries
Tiisetso Saul: [email protected]
Karuna Singh: [email protected]
Additional information
Uganda Investment Promotion. For more information please reference: http://ugandainvest.go.ug/