Foreign nationals cannot work in Uganda without a work permit. Efficiency of Capital Markets and Portfolio Investment Uganda's stock exchange was inaugurated on 6 June 1997. Nonetheless, securities markets are virtually dormant in Uganda - the first stock issue is scheduled for initial public offering in September 1999. Businesses are averse to listing themselves on the stock exchange because the disclosure requirements could expose them to greater tax liability. Foreign owned companies are prohibited from trading on the Securities Exchange.
Investors have no difficulties obtaining foreign exchange.
Expropriation and Compensation Uganda law allows expropriation for public purposes through a transparent process. Investors are guaranteed fair market value compensation within 12 months of the expropriation. The GOU is actively divesting and returning property confiscated in the past. Dispute Settlement Uganda opened its first commercial court in August 1996. However, a shortage of judges, lack of funds, and minimal space have hampered its operations.