What is A Bank Account?
A bank account is a financial account maintained by a bank or other financial institution in which
the financial transactions between the bank and a customer are recorded.
Requirements For Opening Up A Bank Account In Uganda
a. Personal:
- Two (2) passport-size photos
- Valid identification document including the following:
Valid National Identity Card for Ugandans
Passport for foreigners (Non-Ugandans).
Refugee Identity Card for Refugees. - A mandatory opening cash deposit of Ushs.100, 000.
- One (1) Referee (who is either a Centenary Bank customer, employer, lawyer/advocate clergyman, doctor, headmaster, or any other acceptable local authority)
b. Sole Proprietors:
- Two (2) passport-size photographs
- Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
- Opening cash deposit of Ushs.300, 000
- Certified copy of the certificate of registration
- Copy of trading license
- Certified copy of the statement of particulars
- Two (2) Referees- anyone who is either a customer of Centenary Bank, lawyer/advocate, clergyman, doctor, headmaster, or any other acceptable and reputable personality
c. Companies:
- Two (2) passport-size photographs of each of the company signatories
- Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
- Opening cash deposit of Ushs.300, 000
- Registered/Certified resolution by the directors to open an account.
- Written application letter to open an account on a company-headed paper
- Certified copy of the certificate of incorporation
- Certified copy of Memorandum and Articles of Association
- Particulars of Directors certified by the registrar of companies (Company Form 7)
- Copy of company trading license
- Tax Identification Number (TIN)
- Physical evidence of office premises e.g. utility bills, tenancy agreement
- Verified account signatories
- One (1) Referee who is either a customer of Centenary Bank, lawyer/advocate, clergyman, doctor, headmaster, or any acceptable and reputable personality
d. Cooperative Unions /Societies/Clubs/Associations/NGOs:
- Two (2) passport-size photographs of each of the account signatories
- Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
- Opening cash deposit of Ushs.300, 000
- Certified copy of by-laws or constitution
- Certified copy of the certificate of registration issued by the authorized registrar
- Annual General Meeting resolution to open the account with a seal and original signatures
- Written application letter to open up an account on a headed paper and signed by the authorized
- Verified account signatories.
- Two (2) Referee who are either Customers of Centenary Bank, lawyers/advocates, clergymen, Doctors, Headmaster, or any other acceptable local authority
e. Partnerships:
- Two (2) passport-size photographs of each of the account signatories
- Valid identification documents (either copy of a national ID card, employer, voters’ card, driving permit, or passport)
- Opening cash deposit of Ushs300, 000
- Certified copy of Statement of particulars of partners
- Certified copy of partnership deed
- Certified copy of the certificate of registration
- Copy of Trading License
- Written application letter to open up an account on a headed paper signed by partners
- Tax Identification Number (TIN)
- Verified account signatories
- One (1) Referee who is Either a Customer of Centenary Bank, Lawyer/Advocate, Clergyman, Doctor, Headmaster, or any other acceptable Local Authority
Can a non-resident open a bank account in Uganda?
It offers non-resident Ugandans the opportunity of opening a savings account and runs it from anywhere in the world.
With the CenteDiaspora Savings Account, non-resident Ugandans have the opportunity to manage funds in Uganda while living abroad.
Which bank in Uganda is international?
Standard Chartered Bank Uganda Limited is an international Bank with a rich history spanning over 109 years of existence in the Ugandan market,
having opened its doors on 12th August 1912, making it the longest-established Commercial Bank in the country.
How much do I need to open a bank account in Uganda?
Two (2) passport-size photographs of each of the account signatories. Valid identification documents (either copy of a national ID card, employer,
voters’ card, driving permit, or passport) Opening cash deposit of Ushs. 300, 000.
What is the best bank to open an account in Uganda?
The stanbic bank is currently the largest financial institution operating in Uganda today.