Company Registration in Uzbekistan- An Overview

Aspect Details
Timeline The timeline to obtain a Company Registration in Uzbekistan takes around 7 to 15 working days.
Benefits

The benefits of obtaining a Company Registration in Uzbekistan are as discussed below:

  • Political & Economic Stability
  • Economic Reforms
  • Favourable Investment Environment
  • Access to Natural Resources
  • Infrastructure Development
  • Access to Special Economic Zones
Documents Needed

The documents needed to apply for Company Registration in Uzbekistan are provided below:

  • Standardized application form for company registration
  • Articles of Association or equivalent founding documents
  • Identification and address proof of company directors and shareholders
  • Proof of registered office address in Uzbekistan
  • Copy of notarized power of attorney (if using a representative)
  • Description of proposed activities
  • Director’s identity proof and appointment letter
  • Information on the business geography, directors, shareholders occupation
  • Resolution/ minutes of companies meeting
  • Copy of bank certificate confirming deposit of share capital
Eligibility Criteria

The eligibility criteria required for Company Registration in Uzbekistan are as provided below:

  • Reserve a unique company name
  • Register a physical office address
  • Maintain a minimum authorized capital of 400,000,000 UZS
  • Appoint at least 1 Director and 1 shareholder
  • Apply for state registration with Ministry of Justice
  • Open a bank account in the local Uzbek bank
Types

The types of Business Structures for company registration in Uzbekistan are as provided below:

  • Sole Proprietorship
  • Limited Liability Company (LLC)
  • Joint Stock Company (JSC)
  • Representative Office
  • Branch Office
  • Partnership
  • Company with Additional Liability (CAL)
  • Private Enterprise (PE)
Top Businesses Seeking Company Registration in Uzbekistan

The top businesses seeking Company Registration in Uzbekistan are as provided below:

  • Export-Import Trading Company
  • Construction and Civil Engineering Firms
  • Educational and Coaching Institutions
  • Telecommunications and Networking Services
  • Mining and Natural Resources Exploration
  • Textile and Apparel Design Studios
  • Logistics and Warehousing Services
  • Agricultural Equipment Trading Firm
  • Food and Beverage Establishments
  • Healthcare Clinics and Diagnostic Centres
Process

The process to obtain a full Company Registration in

  • Choose the Right Business Structure
  • Reserve Your Company Name
  • Preparation of Documents
  • Submit Registration Application
  • Apply for E-Signature (EDS)
  • Open a Business Bank Account
  • Register for Taxes
  • Obtain a Business Stamp
Post-Company Registration Compliance Needs

The post-company registration compliance requirements are as provided below:

  • Obtain a tax registration certificate with State Tax Committee
  • Adhere to Uzbekistan’s labour laws, including working hours, employee leave, etc.
  • Comply with specific regulations related to product standards and licensing
  • Submit annual returns with their financial statements
  • File an annual tax return by April 1st of the following year
  • Secure registration with the State Social Fund and Social Security Contributions
  • Maintain accurate financial records and documentation of the company
  • Hire employees and obtain work permits for business incorporation
  • Report changes in statutory filings of the company
  • Apply for license renewal and other sectoral approvals
  • Obtain intellectual property and brand protection certificate
  • Hold annual general meetings for shareholder approval of financial results
  • Comply with environment health, and safety reporting obligations
How Enterslice Can Help You?
  • 10+ years of expertise in international company registration in Uzbekistan
  • Expertise and deep understanding in regulations of Uzbekistan
  • Trusted by 5000+ clients and startup entrepreneurs worldwide
  • Extensive experience in both local and international markets
  • Efficient and timely management of services
  • Client-centric approach offering personalized support and guidance
  • Robust network of local partners and resources
  • Continuous support to ensure business compliance
  • End-to-end documentation and incorporation support
  • Provides personalized solutions based on your business needs
  • Efficient time management based on realistic timelines
  • Offers transparent pricing, with no hidden charges
  • Secures compliant with Uzbekistan’s evolving corporate and tax landscape

Enterslice Makes Company Formation in Uzbekistan Easy

Let Enterslice help you effortlessly launch and grow your dream business in Uzbekistan, ensuring full compliance with local laws and regulatory standards.

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Understanding Company Registration in Uzbekistan

Uzbekistan, which stands out as an emerging gateway to Central Asia, allows access to a dynamic regulatory environment influenced by recent reforms, investment incentives, and sector-specific compliance requirements. With liberalized FDI policies and strategic trade agreements in place, Uzbekistan presents a promising landscape for global investors and entrepreneurs.

Company registration in Uzbekistan supports foreign investors with simplified regulations and investor-friendly policies aimed at encouraging investment and innovation. The foreign entrepreneurs are further empowered to access new markets, benefit from government-backed incentives and establish a strong regional presence, boosting cross-border trade opportunities.

Uzbekistan, which offers a unique combination of high-growth potential and affordability, is considered a great option for companies looking to expand their presence into Central Asia. Partner with Enterslice to ensure a smooth, end-to-end incorporation experience, without hidden charges or unnecessary delays!

Fast-Growing Economy with 6%+ GDP Forecast

Fast-Growing Economy with 6%+ GDP Forecast

15% Flat Corporate Income Tax (One of the Lowest in Asia)

Strategic Access to CIS, China, and Europe

Double Taxation Avoidance Agreements with 50+ Countries

Investor-Centric Economic Reforms & Free Economic Zones

Modern Infrastructure with Affordable Operating Costs

100% Foreign Ownership Permitted in Key Sectors

Favourable Visa and Residency Options for Investors

Transparent and Digitized Company Registration Process

Types of Companies in Uzbekistan

The several common types of companies in Uzbekistan, available for both domestic and foreign investors are as discussed below:

Sole Proprietorship

Sole Proprietorship

A sole proprietorship, also known as Yakka tarrtibdagi tadbirkor in Uzbeek, is a simple business structure owned and run by a single individual, having full liability of all its business debts and obligations

llc

Limited Liability Company (LLC)

A Limited liability company which is one of the most popular forms of businesses in Uzbekistan, offers limited liability to its shareholders, legal protection and operational ease for both local and foreign investors.

Joint Stock Company (JSC)

Joint Stock Company (JSC)

A joint stock company which is a form of legal entity separate from its shareholders, have shares publicly or privately held, making it ideal for larger enterprise or businesses seeking to raise capital through the sale of stock.

Representative Office

Representative Office

A representative office which serves as a liaison for a foreign company, is a business setup engaged in the business of market research and promotional activities. However, it cannot be engaged in commercial or revenue-generating operations in Uzbekistan.

Branch Office

Branch Office

A branch office of a foreign company enables carrying out commercial activities in Uzbekistan. It is not considered a separate legal entity operating under the parent company’s license and responsibility.

Partnership

Partnership

A partnership which involves two or more individuals or entities is form of business setup, having share in ownership and management responsibilities of the company.

CAL

Company with Additional Liability (CAL)

A company with additional liability (CAL) is a business setup similar to an LLC, where the founder’s bears additional responsibility more than the proportion to the amount specified in the company’s charter.

PE

Private Enterprise (PE)

A private enterprise is a commercial organization allowing a single individual to establish and run with a legal identity and some degree of separation form the owner.

How to Register a Company in Uzbekistan?

The process to register a company in Uzbekistan involves compliance with the following steps, as discussed below:

Choose the Right Business Structure

Initially, the entrepreneurs must choose the right business structure based on their business goals, liability concerns, and industry standards.

Reserve Your Company Name

The entrepreneurs must further reserve a company name through the Unified Portal of Interactive State Services.

Preparation of Documents

In the next step, the entrepreneurs must prepare registration and all foreign documents, notarized and translated into Uzbek or Russian.

Submit Registration Application

The entrepreneurs are further required to submit registration application along with the documents at the local office of the Ministry of Justice, Uzbekistan.

Apply for E-Signature (EDS)

After registration, the entrepreneurs must apply for electronic digital signature, necessary for filing tax reports, online government services, and licensing procedure.

Open a Business Bank Account

Upon the successful registration of company in Uzbekistan, the entrepreneurs must open a business bank account in any of the local banks of the country.

Register for Taxes

Next, the entrepreneurs must register for taxes with the State Tax Committee, and if they employ staff, register for the USP system for payroll taxes.

Obtain a Business Stamp

Lastly, the entrepreneurs must obtain a business stamp or seal from an authorized provider, facilitating official documentation of the company.

Timeline for Business Registration in Uzbekistan

The estimated timeline for business registration in Uzbekistan typically ranges from 7 to 15 working days, depending upon factors such as business structure, foreign investment requirements, type of business activity, and completeness of documentation, as discussed below:

Choose Business Structure and Name: 1 to 2 Working Days

Choosing a business structure and a unique company name via the Unified portal of Interactive government services takes around 1 to 2 working days.

Prepare Company Documents: 2 to 3 Working Days

It takes around 2 to 3 working days to prepare and notarize company registration documents and establishment decisions.

Submit Application and Register Company: 1 to 2 Working Days

The timeline to submit online documents to register a company via the Ministry of Justice takes around 1 to 2 working days, varying based on the type of activity and documents submitted.

Open a Corporate Bank Account: 2 to 5 Working Days

It takes around 2 to 5 working days to open a corporate bank account in the local banks of Uzbekistan.

Tax and Social Fund Registration: 2 to 3 Working Days

It takes 2 to 3 working days to secure a tax and social fund registration with the State Tax Committee and Pension/ Social Protection Fund for USP.

Obtain Sector-Specific Licenses: Varies

The time required to obtain sector-specific business licenses and permits varies based on the nature of the business license and the regulatory requirements of the respective authorities.

Documents for Online Company Registration in Uzbekistan

The documents needed for online company registration in Uzbekistan are as discussed below:

Standardized application form for company registration

Articles of Association or equivalent founding documents

Identification and address proof of company directors and shareholders

Identification and address proof of company directors and shareholders

Identification and address proof of company directors and shareholders

Description of proposed activities

Description of proposed activities

Information on the business geography, directors, shareholders occupation

Resolution/ minutes of companies meeting

Copy of bank certificate confirming deposit of share capital

Benefits of Company Formation in Uzbekistan

The foreign entrepreneurs applying for company formation in Uzbekistan enjoy the following benefits as discussed below:

samoa Business Incorporation

Political & Economic Stability

The entrepreneurs seeking company formation in Uzbekistan get access to a politically and economically stable state offering a broad spectrum of an integrated system of measures to encourage the activity of enterprises with foreign investments.

Economic Reforms

Uzbekistan, which has undergone significant reforms in recent years, liberalises policies to improve the business climate, simplifying regulations and reducing bureaucracy, making it easier for investors to establish and operate businesses.

Favourable Investment Environment

The entrepreneurs seeking company registration in Uzbekistan are backed by a secure and attractive environment and a strong government guaranteeing legal protection and full protection of rights under national legislation.

Access to Natural Resources

The entrepreneurs seeking company registration in Uzbekistan enjoy access to rich natural resources, including significant reserves of natural gas, gold, copper, uranium, and other minerals.

Infrastructure Development

Company formation in Uzbekistan enjoys access to developed infrastructure, including transportation, energy, telecommunications, and logistics, creating investment prospects in infrastructure-related industries.

Access to Special Economic Zones

Company formation in Uzbekistan allows access to Special Economic Zones and industrial parks offering tax incentives, simplified customs procedures, and other benefits to attract foreign investors.

Legal Requirements for Company Registration in Uzbekistan

The legal requirements for company registration in Uzbekistan are as discussed below:

  • Company Name Reservation :- A unique company name reserved with the relevant registry authority is mandatory for company registration in Uzbekistan
  • Registered Office Address :- The entrepreneurs must mandatorily register a physical office address, that serves as an official correspondence address for the company.
  • Capital Requirements :- Setting up a company in Uzbekistan, specifically an LLC with foreign investment requires a minimum authorized capital requirement of 400,000,000 UZS (approximately $42,000 USD).
  • Appointment of Directors/ Shareholders :- At least 1 director and 1 shareholder, who is either an individual or a legal entity must be appointed for company registration in Uzbekistan.
  • State Registration with Authorized Body :- The entrepreneurs must apply for state registration with the Ministry of Justice or the relevant government portal of Uzbekistan.
  • Bank Account Opening :- Opening of a bank account in the local Uzbek bank is necessarily required to deposit share capital and handle operational transactions of the company.

Industries & Businesses Seeking Business License in Uzbekistan

The list of top 10 industries and businesses obtaining a business license in Uzbekistan, a rapidly developing economy is as discussed below:

Top 10 Industries to Obtain Business License in Uzbekistan

  • Manufacturing and Industrial Processing Industry
  • Renewable Energy and Green Technology Industry
  • Information Technology and Software Development Industry
  • Agriculture and Food Processing Industry
  • Construction and Infrastructure Development Industry
  • Healthcare and Pharmaceutical Industry
  • Tourism and Hospitality Industry
  • Educational and Vocational Training Industry
  • Financial and Professional Services Industry
  • Logistics and Transportation Industry

Top 10 Businesses Seeking Company Formation in Uzbekistan

  • Export-Import Trading Company
  • Construction and Civil Engineering Firms
  • Educational and Coaching Institutions
  • Telecommunications and Networking Services
  • Mining and Natural Resources Exploration
  • Textile and Apparel Design Studios
  • Logistics and Warehousing Services
  • Agricultural Equipment Trading Firm
  • Food and Beverage Establishments
  • Healthcare Clinics and Diagnostic Centres

Post-Corporate Compliance in Uzbekistan

The post-corporate compliance in Uzbekistan involves fulfilling a range of administrative requirements after a company has been established. Here are some of the compliances as discussed below:

  • Get a tax registration certificate from the State Tax Committee
  • Adhere to Uzbekistan’s labour laws, including working hours, employee leave, etc.
  • Comply with specific regulations related to product standards and licensing
  • Submit annual returns with their financial statements
  • File an annual tax return by April 1st of the following year
  • Secure registration with the State Social Fund and Social Security Contributions
  • Maintain accurate financial records and documentation of the company
  • Hire employees and obtain work permits for Uzbekistan business incorporation
  • Report changes in statutory filings of the company
  • Apply for license renewal and other sectoral approvals
  • Obtain intellectual property and brand protection certificate
  • Hold annual general meetings for shareholder approval of financial results
  • Comply with environment health, and safety reporting obligations
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Why Trust Enterslice for Company Registration in Uzbekistan?

Enterslice is a trusted partner offering business setup and consultancy solutions to entrepreneurs establishing their company in the emerging markets of Uzbekistan. Have a look at the following reasons why Enterslice is the best choice for company registration in Uzbekistan:

  • 10+ years of expertise in international company incorporation
  • Expertise and deep understanding of the regulations of Uzbekistan
  • Trusted by 1000+ clients and startup entrepreneurs in Uzbekistan
  • Extensive experience in both local and international markets
  • Efficient and timely management of services
  • Client-centric approach offering personalized support and guidance
  • Robust network of local partners and resources
  • Continuous support to ensure business compliance
  • End-to-end documentation and incorporation support
  • Provides personalized solutions based on your business needs
  • Efficient time management based on realistic timelines
  • Offers transparent pricing, with no hidden charges
  • Secures compliant with Uzbekistan’s evolving corporate and tax landscape

FAQs on Company Formation in Uzbekistan

Have a look at the following answers to the most asked questions:

Yes, foreign entrepreneurs are eligible to register a company with the local authorities of Uzbekistan.

Yes, Uzbekistan, which offers the following benefits, is considered an ideal place to start a business:

  • Allows access to a politically and economically stable economy
  • Encourages the activity of enterprises with foreign investments
  • Simplifies regulations and bureaucratic hurdles
  • Backed by a secure and attractive environment
  • Guarantees full protection of rights under national legislation
  • Access to rich natural resources
  • Access to well-developed infrastructure
  • Access to Special Economic Zones and industrial parks

No, an Indian company license is not directly valid in Uzbekistan. However, it needs to register and establish a legal presence for conducting business operations in Uzbekistan.

The cost of company registration in Uzbekistan varies based on the type of business entity and specific services needed. However, the cost generally starts from UZS 400,000,000 for basic registration of an LLC in Uzbekistan.

The process to establish a company in Uzbekistan requires compliance with the following procedure or steps as provided below:

  • Step 1: Choose the Right Business Structure
  • Step 2: Reserve Your Company Name
  • Step 3: Preparation of Documents
  • Step 4: Submit Registration Application
  • Step 5: Apply for E-Signature (EDS)
  • Step 6: Open a Business Bank Account
  • Step 7: Register for Taxes
  • Step 8: Obtain a Business Stamp

The standard business or corporate tax rate in Uzbekistan is 15%. However, a 20% rate applies to banks, mobile operators, manufacturers of polyethylene pellets, and profits of markets and shopping complexes.

An LLC, which stands for Limited Liability Company, is a common business structure in Uzbekistan that offers limited liability protection to its founders, not personally liable for all the company’s debts and obligations beyond their investment.

The cost to obtain a business visa in Uzbekistan for Indian citizens ranges from $40 to $80, varying based on the length of stay and specific details of the visit.

The list of business sectors or industries offering profitable business opportunities in Uzbekistan is as follows:

  • Manufacturing and Industrial Processing Industry
  • Renewable Energy and Green Technology Industry
  • Information Technology and Software Development Industry
  • Agriculture and Food Processing Industry
  • Construction and Infrastructure Development Industry
  • Healthcare and Pharmaceutical Industry
  • Tourism and Hospitality Industry
  • Educational and Vocational Training Industry
  • Financial and Professional Services Industry
  • Logistics and Transportation Industry

No, both the residents and non-residents working or carrying out their business operations in Uzbekistan are subject to the tax laws of the country.

The standard VAT rate in Uzbekistan is 12%, making it applicable to the sales value of products, works, and services.

No, Uzbekistan is considered a lower-income country with a developing economy, rather than a rich country.

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