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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 between 10 and 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 190 economies. The most recent round of data collection was completed in June 2016.

Compare Uzbekistan to 189 other economies.

  • No. Procedure Time to Complete Associated Costs
    1

    Register the name of the company

    Agency: State Statistic Committee

    There has been an online system for company name registration since June 1, 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 May 12, 2011. The applicant submits the application through the website, and after 4 hours the agency will provide the answer of whether or not the chosen name can be registered. The agency will then reserve the name for the applicant. This reservation is valid for 60 days.
    Less than one day (online procedure) no charge
    2

    Make a company seal

    Agency: Specialized seal-making company

    The company’s seal must be made by a specialized seal-making company. The cost starts at UZS 50,000.

    First company founders need to obtain a design from a seal company. Then the design is submitted to the Inspectorate for Registration of Entrepreneurial Entities (Khokimiyat) during procedure 3, and the agency issues an authorization of final seal, which incorporates the proposed designed.
    2 days UZS 50,000
    3

    Register with a local Inspectorate for Registration of Entrepreneurial Entities under Khokimiyat (one-stop shop) and obtain the certificate of state registration

    Agency: Inspectorate for Registration of Entrepreneurial Entities under Khokimiyat (one-stop shop)

    The company must register with relevant local authority (khokimiyat), which can be done online at: https://my.gov.uz/ru/service/214 or in person.

    In case of electronic registration, the company founders must fill out the forms, scan and attach supporting documents, and send in electronic request to the government’s IT system.

    The following documents must be submitted:
    • 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 receipt confirming payment of the state registration fee;
    • the proposed seal design prepared by a private company, 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 the documents are received, an analyst must verify the documents submitted. If the documents are satisfactory, the analyst must
    • assign the company a statistical code (according to the National Nomenclature of Enterprises and Organizations) and a taxpayer identification number;
    • certify the samples of company's seal and stamp;
    • register the LLC in the State Register of Legal Entities;
    • issue certificate on the state registration of the LLC.

    The registration process typically takes 48 hours. 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.

    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.

    After the LLC is registered, the local registering authority automatically provides 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.
    3 days UZS 130,240 (equal to one minimum wage salary)
    4

    Open a permanent bank account with a local bank

    Agency: Commercial Bank

    Companies open bank accounts in order to conduct official business, and because in practice Tax Authorities expect a notification regarding company’s corporate account number. In addition corporate bank account is required for notification of Xalq bank.

    The documents required to open a permanent bank account are:
    a. Decision of the newly registered company on nomination of the director of the company and the accountant.
    b. Copy of the registration certificate (Guvokhnome)
    c. Founding documents of the company (e.g. copy of Founding agreement)
    d. Company's seal or stamp
    1 day no charge