Uzbekistan’s fast-growing economy is based on both agriculture and manufacturing industries. It is also a major exporter and producer of cotton and gold, having the biggest gold mine in the whole world; with a political and economic stability, many foreign investors choose to set up companies in Uzbekistan. If you need assistance or further information, our company registration experts can help in matters of establishing a company in this country.
One of the first steps in forming companies in Uzbekistan is deciding which type of legal entity is more recommended to establish in your field of interest
There are various types a foreign entrepreneur can choose from, namely: the limited liability company and additional liability companies, the general or the limited business partnership, the production cooperative, the joint stock company.
A business investor can also decide on creating a branch or a representative office dependent on the head office overseas. The requirements for a limited liability company (which is the most commonly type established by foreign investors) are:
- at least $ 1,500 share capital;
- minimum one director (chief executive officer);
- at least one shareholder and maximum 50 (the nationality has no importance).
1. The first step is registering the name of the company, which has to be done with the State Statistic Committee Agency. The applicant must submit the application and then receive an answer about the company name’s uniqueness.
2. Then you need to make a company seal at the specialized unit. For this procedure, you first need to acquire a design from a seal company.
3. The third step of the company registration in Uzbekistan is to obtain the certificate of state registration from the Inspectorate for Registration of Entrepreneurial Entities. A few documents must be submitted, such as the standard application form and a bank receipt for payment of the state registration fee. With this procedure our company formation specialists can assist you and provide any necessary information.
4. Then you have to open a permanent bank account at a commercial bank agency. Some of the papers that need to be filed are a copy of the registration deed and a copy of the founding documents of the legal entity.
5. Last, but not least, you will need to register with the National Bank. Amongst the documents needed for completion of this process is the certificate of the company director’s nomination, information about the bank account and the registration certificate.
In case you need further information on how to open a company in Uzbekistan, our experts in company registration can guide you through all the required steps and can also assist you in legal issues you may encounter, so feel free to contact us.