The Complete Guide to Company Registration in Uzbekistan

The Republic of Uzbekistan in Central Asia is rich in history, culture, and stunning natural landscapes. Thanks to the significant recent economic and political reforms, the country is now an attractive destination for foreign investors. Uzbekistan company registration is seeing a swell of interest as more entrepreneurs explore the benefits of doing business here. This concise read explains all the facts businesspeople need to know about starting a company here.

 

Type of Business Entities in Uzbekistan

There are several legal entities available for registration in Uzbekistan. These include the following:

• Limited Liability Companies (LLC)
• Simple Limited Liability Company
• Joint-stock Companies (JSC)
• Representative Offices

LLCs are the most popular type of business entity in Uzbekistan and are suitable for small and medium-sized businesses. An LLC needs a minimum of one shareholder and one director, who must be a Uzbek resident. JSCs are ideal for larger companies that require a higher level of capitalisation. However, JSCs only require a minimum of one shareholder.

Representative offices are ideal for foreign companies to conduct market research or promote their products and services in Uzbekistan. However, recent statutory changes allow representative offices to carry out income-generating activities by adhering to specific requirements. These include registering as a permanent establishment and taxes.

 

Company Registration Process in Uzbekistan

As with most company incorporation processes, the first step is to choose a viable company name. The name must be in the Uzbek language and has many rules to follow. Uzbekistan company registration becomes easier when you engage reliable company formation experts to assist.

The next step is to prepare the necessary documents and items upon approval. These include the following:

• The company’s charter and constitutional documents
• A list of the company’s founders, members, shareholders, etc.
• Commissioning a company seal
• Opening of a bank account
• A statement of the company’s authorised capital

A point to note is that an LLC’s authorised capital is currently 40 times the minimum wage in Uzbekistan. Once these items are ready, the next registration process step is to submit them to the relevant agencies. These include the Ministry of Justice and the State Committee for Investment and Foreign Economic Relations.

Upon successful registration, the company will need to follow up with these procedures:

• Obtain a tax identification number (TIN)
• Register for value-added tax (VAT)
• Register with the Social Security fund

 

Modern Enterprise Solutions for Company Incorporation

It is always advisable to seek the assistance of a reliable, professional services firm to ensure full compliance while registering a company. We offer some of the most comprehensive enterprise solution packages, customisable for all your Uzbekistan company registration needs. Our award-winning services will get you ready to do business with the least hassle and in record time. Contact us today to explore our exclusive enterprise solution packages and 21st-century business pathways.