Everything You Need to Know About Company Registration in Uzbekistan
With 13 free economic zones, Uzbekistan is opening its economy to invite more foreign investors to set up businesses. Companies registering within the free economic zones have the opportunity for tax exemptions between three to ten years. However, it depends mainly on the foreign investments, type of projects and company location. Generally, Uzbekistan’s corporate income tax rate is 15%, lower than countries in the region. Want to know more everything about company registration in Uzbekistan? Read on.
Before any company registration within Uzbekistan, a business owner should already have in mind the company activities and its name. With these two aspects in place, it would be easier for us to narrow the work within the stipulated industry.
No worries if a business owner cannot be present in Uzbekistan for the company registration process. We will ensure your company gets registered through a power of attorney within our team.
However, the business owner shall be responsible for all necessary documentation right from the start. We will guide you through every step to ensure you submit proper supporting documents for processing. Let’s carry on, shall we?
Types of Legal Entities
In Uzbekistan, there are several company types available for registration. Partly, it depends on what the business owner intends it to be. If the business owner wishes to issue shares to the public, Uzbekistan concedes to register a Joint Stock Company. Otherwise, a company can be a Limited Liability Company (LLC), in which shares are limited to the company’s shareholder(s). There is also an option of setting up a representative office in Uzbekistan, where the company has no interest in generating income and is not subject to corporate tax.
Here’s a Snapshot of What Each Company Type Requires:
|Entity Type||Common Use||Minimum Requirements|
|Limited Liability Company||All products and services||
|Joint Stock Company||All products and services to secure public funds||
|Representative Office||Promotion of parent company products or services||
What You Will Do – Before Registration
We will advise and guide you on necessary documentation such as:
- Shareholder(s) details such as name, citizenship, passport/company constituent documents
- Registered Uzbek company address. If there is none, we will offer a virtual office address until you secure the ideal business address.
- Authorised paid-up capital, which can be the minimum amount or higher.
- Company activity details
- The company structure
- The preferred bank to open a business bank account in Uzbekistan
- Notarise all company registration documentation at the Embassy of Uzbekistan in your home country (once you receive the translated versions)
What We Will Do – Before Registration
We will help you reserve the company name at the Uzbekistan State Statistic Committee. Our experts will advise you on five company name proposals just in case the officials reject the first choice. The company name will be reserved for two months while we follow through with the company registration in Uzbekistan.
We shall appoint the Uzbek director for your company, who will act as the bank signatory and deal with tax and customs matters. Our team of experts will prepare the company incorporation documents, including articles of association, company seal design, shareholder agreements and company charter.
We will revert to you all of these documents for you to approve them. Then, we will translate them into Russian or Uzbek via an authorised translator to facilitate company registration submission.
What We Will Do – Registration and Post-Registration
Our experts will submit the company registration in Uzbekistan application to the Companies Registrar or Bir Dacha via the online portal at my.gov.uz / fo.birdarcha.uz. The process will take three to five days for the officials to review and approve the registration.
Once approved, we will receive the company registration certificate. The appointed director will then go to the bank and open the bank account. We will also have the company seal produced by the sealmaker in Uzbekistan and register the company for tax purposes.
Amicable Business Affairs in Foreign Land
For business owners, being compliant with local laws is high on their list. Hence, engaging 3E Accounting for your company registration in Uzbekistan will ensure business compliance and peace of mind.