# What is Single Member Company (Uganda)?

Country: Uganda

A private company limited by shares with only one member, formed under the Companies (Single Member) Regulations, 2016.

## Current rate (Same year of income and filing dates as any company.)

Taxed like any company: 30% corporate income tax.

## Example

A founder sets up an SMC to run a software business alone, with a nominee named for continuity, and later converts it to an ordinary private company when investors join.

## How Single Member Company (Uganda) works in Uganda

An SMC gives a solo founder limited liability. It files an annual return with URSB and the same income tax and VAT returns as other companies.

It can convert into an ordinary private company when more members join.

Source: https://ulii.org/akn/ug/act/si/2016/72/eng@2016-11-18

## Related terms

- [URSB (Uganda)](https://accounts-os.com/ug/glossary/ursb-uganda)
- [Corporate Income Tax (Uganda)](https://accounts-os.com/ug/glossary/corporate-income-tax-uganda)
- [TIN (Uganda)](https://accounts-os.com/ug/glossary/tin-uganda)