Uzbekistan

Starting a Business in

Uzbekistan

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Uzbekistan. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in June 2013.

Compare Uzbekistan to 188 other economies.

  • Standardized Company

  • Legal Form: Limited Liability Company
  • Paid in Minimum Capital Requirement: None
  • City: Tashkent
No. Procedure Time to Complete Associated Costs
1 Register the name of the company

There was online system for company's name registration implemented starting from 1 June 2011 pursuant to the Decree of the President of the Republic of Uzbekistan "On measures on further improvement of order of organization and state registration of subjects of entrepreneurship" # PP 1529 dated 12 May 2011. Therefore, reservation of company names is now made online.
Less than one day (online procedure) no charge
2 Register with the local authority (khokimiyat) and obtain the certificate of state registration

The following documents must be submitted to the relevant local authority (khokimiyat):
• standard application form;
• two counterparts of the constitutive documents: the shareholders agreement and the charter (for LLC). Please note that the requirement to notarize the constitutive documents for the procedure of state registration has been eliminated in Uzbekistan for companies owned by domestic founders. Also note that domestic companies may be registered basing on the standard form of constitutive documents.
• a bank document confirming payment of the state registration fee;
• two samples of the corporate seal and stamp, approved at the first meeting of the company;
• the unique login and password, confirming reservation of the company’s name in the centralized database.
After verification of the documents the registering body shall certify the samples of the company’s seal and stamp. Thereby the company can make the seal and stamp without the official permit, on the basis of certified samples.

For the company's state registration, the local registering authority must verify the documents submitted. If the documents are satisfactory, the authority must: (i) the assignment to the LLC of a statistical code (according to the National Nomenclature of Enterprises and Organizations) and a taxpayer identification number; (ii) certify the samples of company's seal and stamp; (iii) the input of data on the state registration of the LLC in the State Register of Legal Entities; and (iv) the issuance of certificate on the state registration of the LLC. After the LLC is registered, the local registering authority shall also provide the data on the registered LLC to the state statistics authorities, state tax authorities and internal affairs agencies at place of location of the LLC.
In case the local registering authority finds the documents submitted for registration unsatisfactory, it shall make a decision on refusal to register the LLC and submit such decision to the applicant within 3 working hours of the time the documents were submitted for registration.

Upon issuing the company’s official registration certificate, the registering agency must grant an original charter and foundation agreement with a registration note on the title page, along with all registration documents and permits filed with the one-stop system.

Although, the time period from the date of submission of the required documents to registration of the company with issuance of the company's official registration certificates must not exceed 2 working days pursuant to legislative requirement, this may take longer time in practice (3-4 working days).

6 days UZS 79,590 (1 time the minimum wages for registration fee)
3 Make a company seal

The company’s seal must be made by a specialized seal-making company. The cost can vary between USZ 30,000 and UZS 50,000.
1 day UZS 30,000 to 50,000
4 Open a permanent bank account with a local bank

To open any permanent bank account, the company must file the following with a local bank: (a) an application, specifying the company’s address and the types of accounts to be opened and (b) a copy of the certificate of registration.


1 day no charge

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