In our previous stories, we have had companies similar to BF Ranch, the closest to this kind of online money-making scheme is Century Ranch. Because of our experience, we do not find BF Ranch any different from all these former scammers such as BLQ. But we are here to give fact-based information not just lay assumptions based on past stories. Let us take some time to put BF Ranch on a litmus test.
What is required of an investment company to operate in Uganda?
Capital Markets Authority Certificate
For any company that deals in investment on behalf of other people; it is required to have a license or certificate from the Capital Markets Authority of Uganda. Even when a company is legitimately paying people, without a license from the Capital Markets Authority, it is just a matter of time, it will either disappear in thin air or get closed down by the government in due time.
One of the companies to consider for this to make proper sense is Capital Chicken whose accounts were frozen. It has never opened again until now. Similar to Capital Chicken, BF Ranch does not have a certificate from the capital markets authority of Uganda. This means whatever your dealings with BF Ranch are, they will end in tears just like the previous investors in similar schemes.
URSB Certificate
For any company to operate in Uganda, it has to be registered with Uganda registration service bureau. This entity does not license, its work is to give a company identity. The same way you register to get a national identity card from NIRA, it is the same way companies register with URSB.
BF Ranch was registered with URSB and they have an authentic certificate from URSB. This also means that the government is aware of the individuals behind this company. During company registration, all company directors are required to submit their identity documents.
Trading License
Every company in Uganda is required to have a trading license from the local council of the place they are operating in. This is not hard to get since there are no serious checks done in most cases. All you need is to pay the quoted money according to type of business. That is all you need to get a trading license in most cases. There is no due diligence to ensure that the company meets the required standards.
It is not clear whether BF Ranch has a trading license from KCCA. But whether they have it or not, this should not trick you into believing them.
Tax Identification Number (TIN)
A TIN number is one of the primary requirements for any company to operate in Uganda. Any authentic company ought to be tax complying and therefore should have a TIN. BF Ranch does not seem to have a TIN number. This means that all their business is being run illegitimately.
If they had, they would have shared with you invoices showing that VAT deducted from your payments. BF Ranch has potential to generate more than 150 million in a year. They are therefore required to pay VAT. Without VAT appearing anywhere in their transactions is a serious red flag.
How Does BF Ranch Get The Money To Pay Its Clients?
BF Ranch works like a pyramid scheme. Money is not generated through an activity other than subscriptions. Since there is need for a grace period of 24 hours for you to get paid; there is enough time to get money from other subscribers. The more people join, the more they pay. Unfortunately, time comes when they cannot pay all the people that have subscribed and this is always the time they throw in the towel and run with whatever money they have received from their subscribers.
These kinds of business can even survive for a whole year. They often break at a time when they have become very popular.
What Should You Do Now?
I do not recommend anyone to invest even if its merely 10,000 but if you love gambling, this is the best time to try your luck. You can invest knowing that you can lose all the money overnight. The only people who benefit from these scams are people that join them when they have just began. They often invest using the profits received after a few weeks of investment instead of investing all the profits and the capital.
But again, we strongly warn people not invest a single coin. You can fool yourself that you withdraw before they close, but that is never in your power. Check out for similar scams here: Century Ranch, Goldhela, Capital Chicken, Vetaplan Chicken
A friend wants to make me join but I have compared them with blq company and I see no quite much difference
If I remember what blq did to me, no one can convince me
But it’snt the government behind it
How long do such companies exist
However the rate at which the people are multiplying is scarying
And the persuasive nature of making people join the ranch eh eh??
I have heard of many such things, but my take is; according to the information you’ve served us, bf is completely different from the one I always hear of, which is Utrading!
Can you clarify on it too?
Here is the article about uTrading https://www.kampalasun.com/utrading-scam-or-legit-making-money-online.html
[…] as BLQ, Century Ranch, and Capital Chicken, among several others. Currently, the brooding scam is BF Rancher. It is run after the same pattern as BLQ and Century […]