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Register a Company in Uzbekistan

As an emerging market with strategic geographic advantages and abundant resources, Uzbekistan provides numerous advantages for foreign investors to register their businesses. The country’s large population and huge market potential, combined with the government’s aggressive reforms and favourable policies, create a friendly investment environment for investors. It’s convenient trade relations and cost competitiveness are also attracting a growing number of international investors.

Furthermore, the Uzbek government is committed to promoting economic diversification and industrial upgrading, which opens more opportunities for registered companies to grow. In conclusion, forming a company in Uzbekistan may result in long-term business benefits and development opportunities.

 

This Post Will Explain How to Set Up a Business in Uzbekistan

In Uzbekistan, you can establish a limited liability company (LLC), a representative office, or a branch office. However, it is generally recommended to register a 100% foreign-owned limited liability company to make it easier to operate locally.

A limited liability company can be registered online at new.birdarcha.uz (to obtain an electronic digital signature) or by submitting the registration documents to any of the state service centres. Foreign companies, on the other hand, must all be registered at the local one-stop registration centre (Bir Darcha).

The registration documents include all statutory documents such as articles of association and incorporation agreement, office lease agreement, shareholder details, and so on. These statutory documents must be translated into Uzbek.

In addition, the applicant must pay the state registration fee in advance and provide bank supporting documents. It is important to note that the document must be properly signed, stamped, and notarized; otherwise, it may be rejected by the Registry.

As long as the prepared documents are complete, the registration process usually takes no more than an hour, and the company registration certificate can be obtained the same day.

Following that, the applicant can open a bank account in Uzbekistan with a local bank. A foreign company’s bank account can be opened in the country’s currency or in other foreign currencies. The above procedure effectively concludes the registration process.

It should be noted that to register a company in Uzbekistan, foreign citizens or companies must submit the following additional documents. Foreign nationals must bring a copy of their legal passport, a temporary INN registration (taxpayer identification number), and a letter of authorization from the foreign director. Foreign companies must prepare an abstract of the business registration, a copy of the certificate of incorporation, and a copy of the foreign head office’s incorporation documents.

 

3E Accounting: Your Uzbekistan Tax and Financial Compliance Partner

It is true that tax policies and regulations in Uzbekistan can change frequently, so it is critical to ensure that you have a team of professionals who can help you follow and adapt to these changes in a timely manner once you have incorporated your company locally. 3E Accounting has a wealth of experience and expertise. Our team of experts will ensure that your company remains in compliance with the most recent tax regulations and will provide real-time advice and guidance.

We can provide tailored solutions to help your business grow steadily, whether it’s in tax returns, compliance reviews, or financial planning. Contact us to know more.