Since November 2016, the Government of Uzbekistan has been
introducing a series of legislative amendments aimed at significant
simplification of company registration procedures. It is
anticipated that these efforts will further greater inflow of
foreign capital, result in proliferation of small and medium sized
business entities, and help the country to move up in the
influential Doing Business ranking.
The majority of the above changes are going to come into
force in April 2017, albeit some preliminary amendments have
already been introduced. They relate to the registration of both
private and public companies.
'Single Window' centers ('one-stop shops') under
the Ministry of Justice will become a single registration authority
for all types of business entities (except for banks and credit
bureaus registered by the Central Bank).
It is now only the application for registration and foundation
documents that are required to be submitted for the registration.
The standard forms of these documents are available. The
requirement to companies with foreign members to notarize
foundation documents before the submission and proof of foreign
members' incorporation (statements from a foreign company house
register, certificate of registration, etc.) are to be
Procedure and timing:
All the registration procedures, including choosing a company
name, paying registration fees, and filling out the application
form, may now be done online and are expected to take no more than
The fee for the registration is going to be equal to 1 minimum
monthly wage (MMW) as set in Uzbekistan (approximately USD 50) or 5
MMW plus USD 500 for companies with foreign members. The fee is
reduced on half if the online registration is done online.
No official certificates on a special letterhead will now be
issued in paper form. All certificates along with basic information
about the entity will now be available online. There will be no
need for a newly established entity to apply for a taxpayer
individual number upon the registration, it will be generated
online after the application.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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