Uzbekistan

Starting a Business in

Uzbekistan

Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs.  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 (GNI).

The information appearing on this page 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 183 economies. The most recent round of data collection for the project was completed in June 2011.

  • Standardized Company

  • Legal Form: Limited Liability Company
  • City: Tashkent

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No. Procedure Time to Complete Associated Costs
1 Obtain a certificate for company’s name registration

The local statistical authority issues the certificate on the company’s name registration.
3 days no charge
2 Open a temporary bank account with a local bank and transfer 30% of each founder’s contribution to the account; pay the registration fee

To open a temporary bank account, the company must submit an application with a local bank and the company’s founding documents, if required. The applicant must be duly authorized by the company founders.

Before filing documents with the local authority (khokimiyat, or the Inspectorate for Registration of Entrepreneurial Entities) for state registration, all founders must transfer 30% of their respective contributions in cash to the company's temporary bank account. The registration fee must be fully paid to the local registering authority's bank account, and a receipt must be obtained.
2 days no charge
3 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):
- Two sets of the notarized original founding agreement and the company charter (in Uzbek).
- A standard application form, requesting the company’s registration.
- The original company name registration certificate.
- Three samples of the company’s corporate seal and stamp, as approved at the company’s initial general meeting.
- A banking document, confirming registration fee payment.
- A banking document confirming that each company participant has made at least 30% of his or her respective contribution to the capital. - A document evidencing the company's postal address.

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 Organisations) and a taxpayer identification number; (ii) the execution of a permit for making a company seal; (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.

 6 days UZS 49,735 (1 time the minimum wages for registration fee)
4 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
5 Notarize samples of signatures of the company’s general director and chief accountant, as well as a sample of the company’s seal print

Before opening a permanent bank account, the company must obtain three signature specimen cards from the bank. The company’s general director and chief accountant must sign the three separate cards before a notary. Two prints of the company’s seal must be certified by the notary as well.
1 day UZS 4974 per signature (10% of minimum monthly wage), assuming 5 signatures + notary fees
6 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; (b) a copy of the certificate of registration; and (c) the notarized signature specimen and the company’s seal print.
1 day half the minimum monthly wage
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