Registration of companies in Uzbekistan
MAIN LAWS ON COMPANY REGISTRATION IN UZBEKISTAN:
Civil Code of the Republic of Uzbekistan (August 28, 1996).
MAIN BUSINESS LEGAL STRUCTURES IN UZBEKISTAN:
- Simple Limited Liability Company (with the participation of foreign capital).
- Limited Liability Company as a “foreign-invested enterprise”.
- Joint-Stock Company (JSC).
- Representative office.
Our legal experts render the services of registration of all forms of business in Uzbekistan with the participation of both residents and non-residents.
To choose the best form of business presence in Uzbekistan, you can order us to draw up a comparative legal report, in which we analyze pros and cons of a certain form of business presence in the territory of Uzbekistan.
It is also possible to register a permanent establishment in the territory of Uzbekistan.
NAME OF AN LLC IN UZBEKISTAN:
After choosing the desired form of business in Uzbekistan, you have to select several variants of a name (up to 5).
Reservation of a company name is made electronically; a name must be unique.
Legal entities cannot use such words as “Republic of Uzbekistan”, “Uzbekistan” or their abridgements, as well as the names of historical figures in their names, unless a permit has been obtained from the registering authority.
MINIMUM AUTHORIZED CAPITAL OF AN LLC IN UZBEKISTAN:
A minimum authorized capital of an LLC in Uzbekistan is 40 minimum wages (at present, it amounts to 202,730 Uzbekistani sum, which is equivalent to 8,440 USD).
MAIN SERVICES OF REGISTRATION OF A COMPANY IN UZBEKISTAN:
- Preparation of constituent documents of an LLC;
- Registration of an LLC in tax authorities;
- Ordering and receiving of a seal;
- Registration of data of the companies in extra-budgetary funds;
- Opening of current accounts for a company in Uzbekistan and abroad.
BACKGROUND DATA REQUIRED FOR REGISTRATION OF AN LLC IN UZBEKISTAN*:
- Company name;
- Registered address (can be provided by us);
- Participant’s data (name, citizenship, passport/company’s constituent documents);
- Amount of the authorized capital;
- Kinds of activities;
- Chosen bank in Uzbekistan and kinds of accounts to be opened therewith;
- Selection of the taxation system in Uzbekistan;
- Other documents and data at the request of the experts of ALPS & CHASE.*
*All of the documents must be provided in advance, so we have time to translate them into Russian or Uzbek.
All provided documents must be notarized and legalized in the Embassy of Uzbekistan in a participant’s (shareholder’s) country or apostilled according to Hague Convention of 1961 by the relevant authorities after notarization.
For the participants from CIS countries (Russia, Belarus, Uzbekistan, Tajikistan, Armenia, Ukraine, Kyrgyzstan, Moldova, Turkmenistan, Azerbaijan, and Georgia), no apostilization or legalization of the documents is required according to the Minsk Convention on Legal Assistance and Legal Relations in Civil, Family and Criminal Cases (dated January 23, 1993) (note – depending on the kind of legal actions, there can be some exceptions in the document apostilization rules).
PRESENCE OF THE PARTICIPANTS DURING REGISTRATION OF A COMPANY:
Presence of the participants for registration of a company in Uzbekistan is not required. All registration actions can be carried out under a power of attorney.
TERM OF REGISTRATION OF AN LLC IN UZBEKISTAN:
At present, registration of an LLC is much more simple than before cancellation of a number of permitting procedures.
At an average, opening of an LLC in Uzbekistan takes 3 to 5 business days after submission of the documents for the state registration.
The presence of a Director General will be needed only during opening bank accounts in Uzbekistan (signature of documents and bank cards).
APPOINTMENT OF A DIRECTOR GENERAL IN UZBEKISAN:
You can appoint either a citizen of Uzbekistan or a foreign citizen to a position of a Director General.
There is a small peculiarity: according to the law of the Republic of Uzbekistan, for the purposes of protection of domestic labor market, the government established a certain procedure for attraction of foreign labor force to the territory of Uzbekistan, which provides for the procedure of obtaining of a permit and confirmation of the right to work from the Ministry.
This requirement does not cover the heads of representative offices of foreign commercial entities, as their certification is performed in the procedure established by the Ministry of Foreign Economic Relations, Investment and Trade of Uzbekistan.
However, if we follow the logic of the law, before appointing a foreigner to a position of a Director General, he/she must have a job permit.
In view of that, our company provides a service of temporary directors, who can sign basic documents, interact with tax and customs bodies.
The main requirement to use this service is a complete legality of your company’s operations.
OTHER SERVICES IN THE AREA OF REGISTRATION OF A BUSINESS PRESENCE IN UZBEKISTAN:
- Registration of a representative office in Uzbekistan
- Registration of a permanent establishment in Uzbekistan5