Local Shareholding and Management
Generally, investors, whether domestic or foreign, may engage in any type of business activity, subject to foreign investors obtaining an investment license.
Although, according to the Investment Code Act, foreign investors are specifically excluded from investing in the business of crop production or animal production and may not acquire, be granted or lease land for this purpose, according to the Uganda Investment Authority (UIA) this restriction is not enforced but the Government is encouraging foreign investors to do value addition to agricultural projects.
The Minister responsible for Planning and Economic Development may, on advice of the Authority and with the approval of Cabinet, by statutory instrument, exempt any business or class of business activities from the above restrictions if it is necessary for the purpose of ensuring a regular supply of raw materials the enterprise should lease land.
Non-citizens working in Uganda require a valid entry permit and work permit. As a prerequisite for obtaining the employee entry permit, the person has to satisfy the Immigration Board that he or she has been offered and accepted employment in Uganda (i.e. a local branch or incorporated company must provide the employee with an offer of employment).