If you are a business owner in Uganda, you may be required to file a form with the Uganda Registration Services Bureau (URSB) called the Notice of Beneficial Owner Particulars (NOBO). This form is used to disclose information about the beneficial owners of your company, including their personal information and percentage of ownership.
The URSB requires this information to comply with the Anti-Money Laundering Act, which is designed to prevent money laundering and terrorist financing. By requiring companies to disclose the identity of their beneficial owners, it makes it easier for law enforcement agencies to investigate and prevent illegal activities.
It’s essential to note that failure to comply with the Notice of Beneficial Owner Particulars requirement can result in fines, penalties, or even criminal charges. Therefore, it’s crucial to complete the form accurately and submit it on time to avoid any legal issues.
To file the NOBO form with the URSB, you will need to provide the following information about each beneficial owner of your company:
Full name
Nationality
Physical address
Occupation
Nature of ownership
Percentage of ownership
Additionally, you may be required to provide supporting documentation, such as identification documents or proof of ownership.
It’s important to keep in mind that the information you provide on the the Notice of Beneficial Owner Particulars form will be kept on a public register. Therefore, it’s crucial to ensure that the information is accurate and up-to-date. If there are any changes in the beneficial ownership of your company, you must update the URSB promptly.
In conclusion, filing the the Notice of Beneficial Owner Particulars form with the URSB is a legal requirement that helps prevent illegal activities such as money laundering and terrorist financing. Therefore, it’s essential to comply with this requirement to avoid any legal issues and to ensure the safety and security of your business operations.
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