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The Board of Investment (BOI) in Kampala, Uganda is a governmental body tasked with attracting foreign investment to the country. The board is responsible for drafting policies related to investment, ensuring the compliance of foreign investment projects with these policies, providing advice to foreign investors, and facilitating them in the implementation of their investment projects. The laws governing BOI operations and investments in Uganda are encapsulated in the Uganda Investment Authority Act and its amendments.
In navigating the complexities of BOI laws in Uganda, legal expertise can be crucial. You may require a lawyer to interpret the investment laws of Uganda, understand the necessary permits and licenses, and facilitate communication with the BOI and other government agencies. A lawyer can also assist in negotiating with potential local business partners and ensure your investment is protected from legal pitfalls.
The primary legislation governing BOI in Uganda is the Investment Code Act, 2019. This law provides the framework for both local and foreign investments. Notably, the law establishes the Uganda Investment Authority, which is responsible for promoting and facilitating investment opportunities. The act outlines the steps necessary for registering an investment company, the available investment incentives, and the rights and obligations of investors.
Foreign investors can establish several types of businesses, such as sole proprietorships, partnerships, or corporations, provided they are in compliance with the relevant investment laws.
Registration involves numerous steps, including acquiring an investment license, registering with the Uganda Revenue Authority, and obtaining any necessary permits specific to the nature of the business.
Yes, both local and foreign investors can access a range of incentives including tax holidays, exemption from import duties on certain machinery and equipment, and exemption from double taxation.
While foreign investors cannot own land freehold, they can obtain leases for periods up to 99 years.
The Investment Code Act, 2019 provides various protections, including protection from expropriation, the right to remit profits and dividends, and the provision for arbitration in investment disputes.
The Uganda Investment Authority (UIA) is the primary resource for investors, offering information on investment opportunities, laws, and regulations. The UIA also provides valuable resources such as investment guides and market studies.
If you need legal assistance in Board of Investment (BOI) in Kampala, Uganda, the first step is to consult with a local lawyer who specializes in investment law. They can provide specific advice tailored to your situation and guide you throughout the investment process. It is also advisable to connect directly with the Uganda Investment Authority for more information and practical guidance.
