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Uganda - Apply for Money Lending and Savings Institution Licence

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Procedure[edit]

Apply In-Person

  1. The Money Lending and saving entrepreneur applies for a trade license at the Municipal Authority/Council Authority where the company premises are located.
  2. Receive inspection of the business premises by the licensing officer and obtain the assessment form for the fees payable, which vary with the location of the office.
  3. Fill the form and submit the completed application form to Municipal council Authority/ Division offices where a trading license certificate is issued.
  4. You will then be issued a payment slip to take to the Bank.
  5. Please make sure you have all the documents that are listed under the “Required Documents” section of this page.
  6. After the authorities validate your application and documents that are submitted and the fees are paid, the Municipal Authority issues the Money lending and saving institutional Trading License. This authority also reserves the right to revoke and cancel the trading license, if deemed necessary by municipal inspections (health and building).
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Required Documents[edit]

Applicant should obtain Clearance from Ministry of Trade, Industry and Cooperatives for non-nationals
Non-Nationals:

  1. Identification: Passport (2 Copies)
  2. Work Permit
  3. Original certificate of incorporation of the company for the new business.
  4. Tax Identification Number (TIN)
  5. Business Registration Number (BRN) from Uganda Registration Services Bureau (URSB)
  6. Original rent receipt and tenancy agreement from the land lord for the new business.

Applicant should obtain clearance from Ministry of Local Government for-nationals
Nationals:

  1. Identification: Passport/ Driving permit/Voter’s card (2 Copies)
  2. Original certificate of incorporation of the company for the new business.
  3. Original rent receipt and tenancy agreement from the land lord for the new business.
  4. The client must be of at least 18 yrs of age and if a minor, should be in partnership with a person above 18 years of age
  5. Tax Identification Number (TIN) from Uganda Revenue Authority (URA).
  6. Business Registration Number (BRN) from Uganda Registration Services Bureau (URSB)

  • For new business - original certificate of registration (Business name)
  • Applicant should obtain clearance from Uganda Registration Services Bureau.
  • Approval from a magistrate court.
  • Original municipality receipt for the previous year indicating existing business.
  • Original trading License for the previous year for already existing business.
  • A photocopy of any relevant document shall be required to be retained by Municipal officers on duty.
  • An Assessment of Trading License will be accompanied by Local service Tax assessment where applicable.
  • No assessments for Trading License shall be issued without formally applying for it on the prescribed form.

Office Locations & Contacts[edit]

Ministry of Trade, Industries and cooperatives
P.O. Box 7103 Kampala
Plot 6/8, Parliamentary Avenue
Phone: 0312 324 000/0312 324 268
Email: mintrade@mtic.go.ug
Wesite: http://www.mtic.go.ug

Ministry of Local Government
Tel : +256-414-341224
Email: ps@molg.go.ug
Website : www.molg.go.ug

OR
Contact Municipal council Headquarters Offices spread across the country.

Gulu Municipal Council HQ
District Local Government Airport road
P.O.BOX 201 Gulu
Phone: +256 751000910
Email Address: Gulumnc@gmail.com
Website: http://www.gulu.go.ug

Mbarara Municipal Council HQ
District Local Government Plot No, 12 Galt Road
P. O. Box 290, Mbarara, Uganda
Phone: +256 485420955
Email Address: mbararamunicipalcouncil@yahoo.com
Website: http://www.mbararamunicipalcouncil.go.ug

Jinja Municipal Council HQ
District Local Government Busoga Square
P.O Box , Jinja, Uganda
Email Address: info@jinja.go.ug
Website: http://www.jinja.go.ug

Entebbe Municipal Council HQ
District Local Government Circular Road, Plot 2A Entebbe
. P.O Box 32 Entebbe, Uganda
Phone: +256 772 489 466
Email Address: info@entebbe.go.ug
Website: http://www.entebbe.go.ug

Bushenyi District Local Government
District Local Government Mbarara - Kasese road.
P.O Box 01 Bushenyi, Uganda
Phone: +256-485-43575
Email Address: info@bushenyi.go.ug
Website: http://www.bushenyi.go.ug

Lira Municipal Council HQ
District Local Government Lira - Gulu Road
. P.O.Box 49, Lira, Uganda
Phone: +256(0473) 420219
Email Address:
Website: http://www.liradistrict.com

Kasase Municipal Council HQ
Kasese District Local Government
District Local Government Rukooki, Kasese
. P.O Box 250, Rukooki, Kasese, Uganda
Phone: +256 392888974
Email Address: info@kasese.go.ug / kasese1@gmail.com
Website: http://www.kasese.go.ug

Kitgum Municipal Council HQ
District Local Government Achua County Kitgum
P.O Box 250, Rukooki, Kasese, Uganda
Email Address: info@kitgummunicipalcouncil.go.ug
Website: http://www.kitgummunicipalcouncil.go.ug

Mubende District Local Government
District Local Government Mubende town
P.O Box 93,Mubende Uganda
Phone: +256-392080149
Email Address: mubende@yahoo.com
Website: http://www.mubende.go.ug

Hoima Municipal Council HQ
District Local Government Hoima, Kampala Road
P.O.Box 149, Hoima, Uganda
Phone: +256 772 566776
. Email Address: info@hoimamunicipal.go.ug
Website: http://www.hoimamunicipal.go.ug

Nansana Municipal Council HQ
District Local Government Nansana Town Wakiso
P.O Box 7218, Kampala Uganda
Phone: +256 702 459893, +256 704 308272
Email Address: info@nansana.go.ug
Website: http://www.nansana.go.ug

Masaka Municipal Council HQ
District Local Government Plot 11 Elgin Street
P.O.BOX 201 Masaka
Phone: +256 751000910
Email Address: mskmuncou@gmail.com
Website: http://www.masaka.go.ug

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Eligibility[edit]

  1. Money lending and saving institution License shall not be granted unless the applicant holds an eligibility Trading License certificate (hereinafter referred to as the certificate) granted in accordance with the provisions of this section; and a separate certificate shall be required in respect of every separate License any License granted in contravention of this section shall be void.
  2. Any person carrying out business in Municipality/Division/Town/City/Kampala City Council Authority’s jurisdiction except those who are exempted under Section 8(2) of the Trade Licensing Act are eligible to obtain Trading license for Money Lending and Savings institution -Grade I

The exempted businesses include among others the following:

  • Any trade carried on in a market.
  • The trade of a planter, farmer, gardener, dairy person or agriculturist in respect of sale of his or her own dairy or agriculture produce.
  • The trade of a person in respect of goods bonafide made by him or her by his or her handicraft in or any premises where he or she normally resides, or by the handicraft of persons normal: residing with him or her or who are his or employees or members of his or her family

Fees[edit]

Municipal Council Grade I
Application Fees: Nil

  • (a) Grade I - - 487,500 Ugsh
  • (b) Grade II - - 262,500 Ugsh
  • (c) Grade III - 195,000 Ugsh
  • (d) Grade IV - 105,000 Ugsh

Municipal Council Renewal Fees:

  • (a) Grade I - 487,500 Ugsh
  • (b) Grade II - 262,500 Ugsh
  • (c) Grade III - 195,000 Ugsh
  • (d) Grade IV - 105,000 Ugsh

Validity[edit]

Validity: 1 Year.

Documents to Use[edit]

Please attach documents that can be used by people. e.g. links
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Sample Documents[edit]

Application Form.

Processing Time[edit]

Maximum Processing Time: 2 Day

Related Videos[edit]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites. 	
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

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Instructions[edit]

  • A licence issued to the money lending and saving institution is valid until 31st December in every year and may be renewed annually.
  • The license is not transferable or assignable. Once issued, the license must be displayed at all premises in which the money lending and saving institution transacts money lending business.
  • The Regulations require money lending institution to maintain a physical address and maintain and retain records relating to their business for a period of 10 years. This is the same period required of financial institutions under the Anti-Money Laundering Act.
  • In addition, money lending are required to display interest rate charges at all times in a conspicuous place at their premises and maintain proper books of account, including a register of securities and debtors. This will enhance transparency in the business and promote confidence in money lenders.
  • The regulation requires money lending and saving institution to evaluate the fitness and propriety of the management board of a institution and of any person who will be employed by or associated with the money lender. This is akin to the fit and proper test that is carried out on the board and management of a financial institution.
  • The Regulations seek to curb the hitherto unorthodox practice of money lending and saving institution withholding important documents of a borrower in order to guarantee repayment, essentially holding the borrower hostage.
  • A money lending and saving institution cannot dispose of collateral unless 60 days have lapsed since a demand for payment was made on the borrower.
  • Purpose of this License is to regulate the trade of for Money Lending and Savings institution -Grade I in Uganda.

Required Information[edit]

  1. Names, Physical and Postal Address of Applicant
  2. Legal Status of the Applicant
  3. List and Particulars of Shareholders;
  4. Certificate of Registration,
  5. Certificate of Incorporation,
  6. Memorandum and Articles of Association
  7. Deed of Partnership,
  8. Deed of Trust, as applicable
  9. Information if the shareholder has ever been convicted of a criminal offence in Uganda or in any other country.
  10. List and Particulars of Directors.
  11. information if you have ever acquired a Licence and state the nature of the Licence, date issued and the Licence number


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Need for the Document[edit]

Please provide the need for the procedure. e.g. Birth Certificate - why do we need to have a birth certificate? 
 

Information which might help[edit]

  • Grade I areas to comprise all industrial areas in the Municipality and District.
  • Grade II areas to comprise all areas outside Grade I areas in the Municipality.
  • Grade III areas comprise in the trading centers- in a District.
  • Grade IV areas that comprise outside the trading centers in the District.

The following link comprises of Grading of the Areas in the Division/Municipality/Town/City/District. Grading Link

Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links[edit]

https://businesslicenses.go.ug/index.php/printlicense/id/1410

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Others[edit]

More information which might help people.