If you plan to start a business in Asia, Uzbekistan is an excellent choice for registering your company. The Manimama Law Firm has conducted in-depth research, analyzed the main subtleties of incorporating in Uzbekistan, and is ready to share its results and help you choose the right jurisdiction.
What are the main advantages of incorporating a company (business) in Uzbekistan?
1. Promising Location in the Heart of Central Asia
Uzbekistan enjoys a favorable geographic position that provides companies access to key regional markets, including Kazakhstan, Tajikistan, Turkmenistan, Afghanistan, and China. Its location along the modern Silk Road makes it a promising transit hub for trade between East and West.
2. Investor Support and Tax Incentives
Uzbekistan offers a range of tax benefits for investors, particularly in the manufacturing, IT, agriculture, and energy sectors. The country has established special economic zones with preferential tax regimes, customs advantages, and simplified regulations—creating an attractive financial environment for foreign capital.
3. Political Stability and Legal Security
In recent years, Uzbekistan has demonstrated consistent political stability, a key investor factor. The government is also improving the legal framework to protect property rights, contracts, and intellectual property.
4. Skilled Workers
Uzbekistan is home to over 35 million people, most of whom are young, well-educated, and possess strong technical and language skills. This makes the country particularly attractive for outsourcing, manufacturing, and IT businesses.
5. Focus on Innovation and Openness to International Cooperation
Uzbekistan is confidently moving toward building an innovation-driven economy by investing in digital transformation, the startup ecosystem, and scientific research. The country is actively expanding international ties, signing bilateral agreements, and opening new opportunities for cross-border partnerships.
How to register a company in Uzbekistan and what are the main requirements for such registration?
Step 1. Initial setup
- Initiating a preliminary project assessment, assessing risks, choosing the type of company, preparing the necessary documents and obtaining the necessary permits, determining the time frame, budget, and resources required to complete the process.
- Preparation and filing of the package of documents.
Step 2. Company registration
- Choosing a company name;
- Preparation of the required documents of incorporation (Constituent Agreement and Charter of the company);
- Company registration online or through any government service center;
- Obtaining a company seal;
- Opening a corporate bank account (when opening a bank account, the bank may require the physical presence of the director);
- Registration for tax purposes;
- Obtaining licenses and permits (if applicable).
Requirements for registering a company in Uzbekistan on the example of a Limited Liability Company (LLC):
- Shareholders: minimum of 1 shareholder (individuals and legal entities).
- Director: minimum of 1 director (local).
- Minimum Share Capital: there is no minimum or maximum amount of authorized capital for a company.
- Legal Address: each company must have a legal address in Uzbekistan for communication and receipt of notices.
- Liability: shareholders’ liabilities are limited to their contributions to the share capital.
- Accounting: maintaining annual reports and annual accounting balances.
What do you have to know about taxes when registering a company in Uzbekistan?
Corporate income tax (CIT):
The standard CIT rate is 15%.
Personal income tax (PIT):
The PIT rate charged on Uzbek-sourced income is 12%
Value-added tax (VAT):
- The VAT rate for taxable turnover is 12%. This rate also applies to taxable imports, for which the tax base is determined as the customs value plus import duties and excise tax.
- Export of goods is generally 0%. Insurance and most types of financial services are exempt from VAT.
For readers
Manimama provides assistance in choosing the right jurisdiction for company incorporation and in registering a business specifically in Uzbekistan. We have a good understanding of the tax and legal peculiarities of specific jurisdictions, which helps our clients make an informed choice based on their unique needs and development strategies. In our work, we take into account factors affecting the business environment, such as the level of competition, access to financial and human resources, as well as opportunities for further growth and development in different jurisdictions.
By choosing our company formation service in Uzbekistan, you are working with a law firm that values integrity, competence, and client satisfaction. Let us help you set up a company in Uzbekistan and pave the way for your business success!
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The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.
