By Nakitto Joselyn Elizabeth
The Registrar General of the Uganda Registration Services Bureau (URSB), Mercy Kainobwisho, has announced a grace period for companies that were deregistered last year. In a public notice published on the URSB portal early this week, Kainobwisho wrote that companies now have up to August 30 to regularize their existence or have their names given to other interested applicants.
URSB had earlier announced the deregistration of several companies over failure to file annual returns for over five years, affecting over 86,000 companies. This move had caused panic among the business community. However, others have since been restored in an online process created by URSB.
The restoration process for deregistered companies involves applying through the Online Business Registration System (OBRS), with applications submitted online. To begin the process, applicants must create an individual account on OBRS to access the data update application for their struck-off company. Once accessed, they are required to fill out an application for restoration. Upon approval, applicants will be able to update company data and will also be required to file beneficial ownership information (form 1) along with annual returns.
URSB has cautioned affected companies that failure to apply for restoration by the specified deadline will result in deregistration, with their names made available for use by other interested applicants. The list of struck-off companies can be found on www.ursb.go.ug.
Joselyn Nakitto is a staff writer at SML News Ug with passion in health, business and current affairs. She can be contacted on 0709603158
