Uzbekistan is a rapidly developing country with a favorable investment climate. Thanks to consistent reforms, simplified administrative procedures, and the creation of comfortable business conditions, the country is becoming one of the most attractive in Central Asia for foreign entrepreneurs.

Today, foreign companies and individuals can establish a business in Uzbekistan within one hour, benefit from a simplified tax system, easily transfer profits abroad, and enjoy extensive government guarantees.

This guide provides a concise overview of how foreign companies and individuals can quickly, easily, and securely start a business in Uzbekistan, what steps they need to take, what benefits they will receive etc. 

Why Uzbekistan? Key Advantages for Foreign Businesses in Uzbekistan

In recent years, the Uzbek government has carried out global reforms aimed at improving the investment climate and creating favorable business conditions.

Key advantages of Uzbekistan for foreign investors:

• Company registration in just 1 hour via the “One-Stop Shop” system.
• Minimal bureaucracy – all state registrations are completed automatically.
• Full freedom for foreign capital – foreigners can own 100% of the business without the need for local partners.
• Free profit repatriation to any country.
• Low taxes and tax incentives for investors.
• Investment protection guarantees – Uzbek legislation safeguards the rights and assets of foreign investors.
• Developed infrastructure – modern business centers, banking system, IT services, logistics, and more.
• Access to a growing market with over 37.5 million people.
• Relatively low costs for labor, natural, energy, and other resources.

Choosing the Legal Structure for Your Business

Foreign individuals and companies can register the following types of businesses:

Limited Liability Company (LLC)

• Minimum charter capital: Not required.
• Founders: Individuals and legal entities, including foreign investors.
• Liability: Limited to the amount of the charter capital contribution.
• Most popular business structure for all investors, including foreigners.

LLCs can be registered with 100% foreign ownership.

Joint-Stock Company (JSC)

• Minimum charter capital: $400,000 USD.
• Main advantage: The ability to attract capital from shareholders.
• Best suited for large projects and stock market entry.

Foreign Company Branch or Representative Office

• A branch can conduct commercial activities on behalf of the parent company.
• A representative office can only act as a liaison office and cannot engage in commercial activities.

Foreign companies can establish a branch or subsidiary in Uzbekistan without local partners.

Business Registration in 1 Hour via the “One-Stop Shop” System in Uzbekistan

Uzbekistan operates a digital “One-Stop Shop” system, allowing businesses to be registered in just 1 hour.

What is the “One-Stop Shop” in Uzbekistan?

• A unified electronic platform managed by the Ministry of Justice of Uzbekistan.
• Enables online business registration without visiting multiple government agencies.

Automatically registers the company with all necessary state authorities, including:

• Tax Service (for obtaining TIN and VAT registration).
• Statistics Agency (Statistical code) and others.

How to register a company in Uzbekistan?

• Submit an application online or through the One-Stop Shop Service Center.
• Instantly receive the Certificate of Registration.

Opening a Bank Account in Uzbekistan: ready in 1 Hour

After registering a company, opening a corporate bank account is required.

A Commercial Banks in Uzbekistan offer multi-currency accounts:

• Uzbekistan Soums (UZS)
• US Dollar (USD)
• Euro (EUR)
• Chinese Yuan (CNY)
• Russian Ruble (RUB)

Account opening takes just 1 hour.
No foreign exchange restrictions on profit repatriation.
Instant issuance of corporate and personal bank cards for:

• Visa, MasterCard, UnionPay and other international payment systems.
• UZCARD and HUMO (local banking payment systems).

Uzbekistan’s Tax System

Main taxes:

• Turnover Tax (for simplified taxation on revenue up to 1 billion UZS per year) – 4% of revenue.
• Corporate Income Tax – 15% (reduced from 20%).
• Value-Added Tax (VAT) – 12% (previously 15%).
• Dividend Tax – 5% (reduced from 10%).

Tax incentives:

• Companies in Free Economic Zones (FEZs) are exempt from taxes for up to 10 years.
• IT companies are exempt from corporate income tax.
• 100% VAT refunds on exported goods.

Tax administration is fully automated for maximum efficiency.

Government Guarantees for Investors

• Investment protection guarantees.
• Right to operate under old tax rules for up to 10 years.
• Full freedom to transfer capital abroad.
• Protection of assets from unlawful expropriation.
• International arbitration for dispute resolution.

How INVEXI can help you start and operate a business in Uzbekistan

INVEXI LLC offers a full range of “turnkey” services for foreign investors, including:

• Business registration in Uzbekistan “turnkey.”
• Assistance with opening corporate bank accounts.
• Obtaining necessary licenses and permits.
• Office search and rental assistance.
• Tax and investment consulting.
• Representation of foreign companies in Uzbekistan.
• Organizing business meetings and negotiations with government bodies and partners.

Contact us today – and we will help you quickly, securely, and efficiently start your business in Uzbekistan!

Uzbekistan – the best place for your business!

Reach out to INVEXI LLC – we’ll handle everything for you!