Business opening procedure for foreigners

Recommendations of the Turan OS company on business registration for foreign citizens in the Republic of Uzbekistan in 2024

For those interested in starting a business in the Republic of Uzbekistan, foreign investors can choose the following structures in accordance with the legislation of the Republic of Uzbekistan:

· Limited liability company

· JOINT STOCK company;

Limited liability company in the free economic zone;

Foreign companies interested in expanding the activities of a limited liability company have the opportunity to register their business activities in the Republic of Uzbekistan as a foreign legal entity or representative office.

It is possible to establish a company remotely in the Republic of Uzbekistan if the following requirements are met:

The director must be a resident of the Republic of Uzbekistan;

· The foreign director needs a permit to work in the Republic of Uzbekistan;

· Charter capital for LLC is 40 times the minimum wage (about 1800 US dollars);

· It is mandatory to keep accounting records, submit annual financial reports and conduct audits;

Must have valid legal address for registration

A company with a charter capital of more than 150,000 US dollars and fully foreign participation can receive tax benefits when registering in the Republic of Uzbekistan.

Foreigners must obtain a PINFL to open and register a business. Foreign citizens who do not have a document of registration in the Republic of Uzbekistan are provided with state services in electronic form, PINFL. Foreign citizens can get their PINFL at government service centers or immigration offices.

The next step is to obtain an ERI key (electronic digital signature) to confirm the authority to sign the document itself, as well as to protect it from unauthorized changes. To get an ERI certificate, you need to apply to any State Service Center in the district (city).

Register according to your place of residence. It is not possible to work for more than 3 working days from the day of arrival in the Republic of Uzbekistan without registering the place of residence. A letter of guarantee confirming the willingness of a legal entity or individual of the Republic of Uzbekistan to rent or sell this building to the representative office.

· Information about the scope of business activity.

· Designate a project manager for this project. If the manager is a foreign citizen, in the future he will have to obtain a permit to work in the Republic of Uzbekistan.

To obtain a permit, you must submit the following documents to the state services center:

- residential address

- Passport

- Visa

- Estimated salary

- qualification and work experience

- Picture 3x4

- a document confirming the qualification of a foreign citizen

- Draft contract on the initial conditions of working with a foreign worker. In order to establish and register a company in the Republic of Uzbekistan, the following steps must be completed:

· Choose several names for the company so that there are no duplicates in the DXM register.

· Prepare company documents

· Prepare a company stamp

Opening a corporate bank account in the Republic of Uzbekistan

· Pay the registration fee · Submit the documents to the Trade Registry To start a business successfully, first of all, you need to choose the right type of tax.

VAT - 12%

Dividends - 5-10%

Profit tax - 15%

After the successful registration of our company, our company Turan OS provides full accounting services for foreign entrepreneurs. This includes accounting, reporting, tax advice and payment of all necessary taxes and fees, personnel accounting in accordance with the legislation of the Republic of Uzbekistan.