Recommendations by Turan OS Company in 2024 for Foreign Citizens to Register a Business in the Republic of Uzbekistan

Foreign investors interested in starting entrepreneurial activity in Uzbekistan can choose the following structures according to the legislation:

• Limited Liability Company (LLC)
• Joint Stock Company
• LLC in a Free Economic Zone
• Branch or Representative Office

Remote company formation in Uzbekistan is possible if the following conditions are met:

• The director must be a resident of Uzbekistan
• Foreign directors must obtain a work permit
• The minimum charter capital for an LLC is 40 times the minimum wage (approx. $1800)
• Accounting, annual reporting, and audits are mandatory
• A legal address is required

Companies with charter capital exceeding $150,000 may be eligible for tax benefits.

Foreign citizens need the following steps to register a business:

• Obtain a PINFL (personal ID number) via Public Service Centers or migration offices
• Obtain an ERI (electronic digital signature)
• Register the place of residence within 3 working days after arrival
• Provide a letter of guarantee for office rental or purchase

Additional business setup requirements:

• Appoint a project manager
• If foreign, the manager must obtain a work permit

Documents required for obtaining permits:

• Residential address
• Passport
• Visa
• Estimated salary
• Qualification and work experience
• 3x4 photo
• Proof of qualification
• Draft employment agreement

Steps to register a company in Uzbekistan:

• Choose several unique company names (for registry check)
• Prepare company documents
• Create a company stamp
• Open a corporate bank account
• Pay the registration fees
• Submit documents to the Commercial Registry

Applicable tax rates:

• VAT – 12%
• Dividends – 5-10%
• Corporate income tax – 15%

Once successfully registered, Turan OS offers comprehensive accounting, tax, reporting, and HR services for foreign entrepreneurs in accordance with Uzbek legislation.