How to Apply for a Licence to Start a Commercial Bank In Uganda

Apply for a Licence to Start a Commercial Bank In Uganda By Yourself

  1. Make contact with Bank of Uganda at an early stage for a preliminari discussion of Bank of Uganda licensing requirements and other related questions
  2. Find Bank of Uganda’s approval before the use of the words “Bank” and “Finance” within the name proposed.
  3. Find a suitable name through the Registrar of Companies and write to the Bank of Uganda to seek approval of the name.
    • The search and reservation can take a day to finish and the cost of UGsh.20,000 is payable for the procedure.
  4. Once the name has been accepted through the Bank of Uganda, you must go through the Registrar of Companies for incorporation of the bank in the form of an LLC.
  5. After incorporation of the Limited Liability Company, apply for a Commercial Bank License. Bank of Uganda for a Commercial Bank License.
  6. In this case, you must make contact with for assistance from the Bank Supervision Department at Bank of Uganda or download and fill out the application forms , which are available on the Bank of Uganda Website. Bank of Uganda
  7. The application form, which has been completed must be sent along with the supporting documents below:
    • A certified copy of the certificate that the company was incorporated.
    • A certified copies of Memorandum along with the Articles of Association of the proposed institution.
    • A certified duplicate of Memorandum or Articles of Association of any corporate entity that plans to have a significant stake of the company.
    • A certified copy of the current certified financial statement for every year preceding the date of application, if the applicant has operated in any industry under any name and under any laws or in situations where one shareholder is a corporation.
    • If the shareholders proposed to be significant are natural people, certified personal statements of financial affairs for the last three years are required.
  8. All applications should be made together with a non-refundable application cost, payable via banker’s check in favor of the Bank of Uganda or such other payment method that the Bank of Uganda may prescribe,as as stipulated under the 4th Schedule of the Banking Act, the banking Fees Regulations. The fee for application is currently UGshs 2,000.000
  9. If an institution is that is incorporated outside of Uganda In along with notarized copies of documents mentioned below, the following documents should be submitted as well:
    • The notarized copies of signed minutes of the institution’s board or another primary oversight body that has passed the resolution for the establishment of an affiliate or branch in Uganda,
    • A promise of the board, or another oversight body to keep the minimal capital allocated to the proposed subsidiary or branch in Uganda according to the Banking Act and that such capital is to be in Uganda shillings.
    • The name and contact information of the person(s) of the Head Office authorized to liaise with the Central Bank on the application on behalf of the institution.
    • The letter of non-objection from the supervisory authority that recommends the applicant to set up a subsidiary or branch in Uganda is required. The letter should be sent straight to the Director Bank Supervision Department, Bank of Uganda, P.O. 7,120 Box, Kampala Uganda.
    • There will be an agreement that the supervisor in the home country will share supervisory information to the Bank of Uganda.
    • A confirmation from the country of origin supervisor that promoters of the foreign-incorporated bank do not run as a shell company should be sought.
    • If required it is necessary to get confirmation from the house supervisor to confirm that the supervisor has conducted the supervision in a consolidated manner.
    • Affidavits of sworn swearing signed by each officer, as per these application forms.
  10. The feasibility report of future development and operations of the business plan by the lender for at least a of three years starting from the date of submission must also be submitted.
  11. The applicant should also submit sources and evidence of capital .Currently an initial capital of UGshs. 10 billion is needed for the establishment of a commercial bank company.
  12. Each proposed institutional and individual shareholder must submit within the formal statement of the that the capital is not the result of criminal activities or illegal ones.
  13. After meeting the minimum criteria If the applicant meets all the requirements, when the applicant has met all the requirements, the Central Bank will grant the applicant an authorization in principle to operate as an Commercial bank.
  14. After approval, the applicants can begin to search for premises, Information Technology Systems, set in place the other operating facilities, and hire personnel for the institution.
  15. When the applicants are satisfied with their systems and premises They should then ask their Central Bank to conduct an inspection.
  16. If the test is satisfactory and before the issue of licence, the applicants must to pay the annual license fee. The annual license fees are due in full for the calendar year in the time that the license was initially issued and cannot be prorated for durations of validity shorter than 12 months.
  17. When the required fee for the license has been paid and the license fees have been paid, after that, the Central Bank places a notice in the Uganda Gazette to formally specify the institution.
  18. The license is then granted and the new establishment is able to open its doors to the public.

Required Documents For Apply for a Licence to Start a Commercial Bank

  1. The prescribed application forms must be filled in.
  2. Certificate of incorporation certified by a certified copy for incorporation.
  3. A certified copies of Memorandum as well as Articles of Association of the proposed institution.
  4. A certified duplicate of Memorandum or Articles of Association of any corporate entity that plans to hold a substantial shareholding of the company.
  5. A certified copy of the most recent certified financial statement for every year prior to the date of application, if the applicant has operated in any field under any name or law or in the event that one shareholder is a corporation.
  6. If the shareholders proposed to be significant are natural people, certified personal accounts for the last three years must be filed.

Office Locations and Contacts

Bank of Uganda
Lot 37/45 Kampala Road
P.O Box 7120, Kampala, Uganda
Tel: +256 414 258-441/6
Tel: +256 414 258 060/9
Tel: +256 417 302 000
Tel: +256 312 392 000
Fax: +256 41-4230878
Web site: Bank of Uganda
Bank Of Uganda Branches.
  • The bank has nine branches in the following cities in the country:
Bank of Uganda.
Arua (Branch)
Location: Plot 27/29 Avenue Road (Inzikuru Road)
Address: P. O. Box 152 Arua
Tel: +256-476-420253
Bank of Uganda
Fort Portal (Branch)
Location Lot 1 Kaboyo Road
Address: P.O. Post 562 Fort Portal
Tel: +256-483-422532
Bank Of Uganda
Gulu (Branch)
Airfield Road, Airfield Road
Address: P.O. Box 46 Gulu
Tel: +256-471-432330
Bank of Uganda
Jinja (Branch)
Location: Plot 3 Busoga Avenue/ Busoga Square
Address: P.O. Box 35 Jinja
Tel: +256-43-4121247
Bank Of Uganda
Kabale (Branch)
Location: Plot 137 Kabale Road
Address: P.O. Box 966 Kabale
Tel: +256-486-423595
Bank of Uganda
Masaka (Branch)
Location Lot 41 Kampala Road
Address: P.O. Box 1567 Masaka
Tel: +256-481-421246/8
Bank of Uganda
Mbale (Branch)
Place: Plot 34-38 Cathedral Avenue
Address: P.O. Box 2402 Mbale
Tel: +256-454-433632
Bank of Uganda
Mbarara (Branch)
The address: Plot 2 High Street, Mbarara
Address: P.O. Box 1421 Mbarara
Tel: +256-485-420741
Bank of Uganda
Kampala (Branch)
The location: Plot 37/43 Kampala Road, Kampala
Address: P.O Box 7120, Kampala
Tel: +256-41-4258441/6
Bank of Uganda Lira
(Currency Tech Center)
Place: Plot 2, Obote Avenue
Address: P.O. Box 211, Lira


  • Anyone can submit an application to manage commercial Bank in Uganda.
  • This application permits a person to manage an Commercial Bank in Uganda.
  • In Uganda no one is permitted to run any Commercial Bank in Uganda unless approved by the Bank of Uganda.


  • Cost of Licence Applications required for New Commercial Bank: 2,000,000 Ugshs Non-refundable
  • Annual Fee for License 10,000,000 Ugshs
  • For more details on the charges, click here: Bank charges


  • The time of validity is one calendar year.
  • A licence issued pursuant to this section be, unless earlier revoked expire on December 31st the following day after the date of the issue.

Examples of Documents

An application for a license to establish a FUNDING INSTITUTION
(To be filed in duplicate)
The Governor
Bank of Uganda
P.O Box 7120,

I, the undersigned, acting as principal/promoter/in the capacity of duly authorised agent on behalf of ………………………………, a Company incorporated under the Companies Act, CAP. 110 Laws of Uganda (“the principal”), hereby apply for a licence in terms of section 10 of the Financial Institutions Act, 2004 to establish a financial institution to carry on the business(es) specified in class(es)**……………….. pursuant to section 10(3) and the Second Schedule to the Financial Institutions Act, 2004.
2.I provide the documents that is required by Section 10(1) of the Act and the regulation 12 in the Financial Institutions (Licensing) Regulations 2005.
Applicant’s address/ Tel.
Principal’s address/Tel…………………………….
Certification and Engagement
I, the undersigned, …………………………….. hereby certify that all information contained in and accompanying this application is complete and accurate to the best of my knowledge and belief.
I agree to immediately inform to the Bank of Uganda, of any changes in the specifics that I have submitted in my application.
Inscribing …………….. today’s ………day of
_______________________ _______________________
Signature of the Proponent
Principal/ Promoter/Agent
The person signing the declaration has a clear understanding in this statement.
In front of me,
Commissioner for OATHS
Note: Please list all kinds of business activities which you are planning to engage.

Processing Time

The processing time is 90 days.


  • To obtain a license, you must submit the form that you have completed, in the form to Central Bank of Uganda
  • To apply for a license renewal, applicants are required to obtain approval at Central Bank of Uganda. Central Bank of Uganda and then be advised of the documents required to be submitted together with the properly filled out form.
  • If you meet all the requirements and paying the appropriate fees for licensing, the person applying is issued the license.
  • Any information given will be considered to be private.

Requirements Information

  1. Name of the applicant
  2. Main office/ Head Office
  3. Physical address and postal address of the head office/ new outlet
  4. Date of incorporation
  5. Form of incorporation
  6. Description of the company or the functions they perform
  7. Certificate of incorporation number
  8. Details of affiliates and subsidiaries (Name of Outlet County Street, City/Town, Building, date of opening)
  9. Information about the shareholders (Name, Nationality, Date of acquisition, the amount of shares held, percentage of the shareholding)
  10. Information about Directors (Name, Nationality Date of appointment Education level)
  11. Particulars of officers in ascending order of their seniority (Name, Designation and Nationality, date of appointment)
  12. Ownership profiles
  13. Shareholdings in the other institutions of finance
  14. Name of the person who is applying for external auditors.
  15. Declaration

Documentation is needed

  • This license permits the holder to run the operation of a Commercial Bank in Uganda.
  • Anyone who runs an Commercial Bank without a valid license commits an offense and will, upon conviction, be subject to an amount not exceeding 5 million shillings or to a term of imprisonment not exceeding three years or both.

Information that could be helpful

  • The Bank is a corporatist that has perpetual succession, a seal common to all having the right to purchase, own, hold and dispose of properties, to enter into contracts and to sue as well as to be sued in its name.

External Links



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