Company Incorporate in Uzbekistan with 3E Accounting
How do you get started with Company Incorporate in Uzbekistan? That’s what our 3E Accounting experts are here to explain. With tourism potential and its strategic location as the gateway to Central Asia, many reasons exist to consider investing here.
Why Choose Company Incorporate in Uzbekistan?
An investor looks for business potential now and in the future. Uzbekistan ticks all the right boxes when it comes to both. With the Government focusing on diversifying its economy in recent years to attract investors, the shift is opening the doors for even greater opportunity in sectors like manufacturing, agriculture, technology, and tourism.
Uzbekistan is actively looking to become more modern, and the Government has been encouraging more foreign investment into the country by introducing various incentives, tax breaks, business grants, and support for investors. The Government has also invested in improving its infrastructure, focusing on telecommunications and transportation in particular.
What Type of Business Structure Should I Choose
To incorporate a company in Uzbekistan, you must first choose a business structure. Sole proprietorship, Limited Liability Company (LLC), Joint-Stock Company (JSC), Partnership, Branch Office or Representative Office are some of the business options available for your consideration. Each option has its own advantages and requirements, so it’s crucial to understand the implications before making a decision. Our 3E Accounting experts can help talk you through the options.
Once you decide on a business structure, your company name must be registered with the Department of Justice. When choosing a business name, it should not be similar to existing companies in Uzbekistan and should comply with local regulations. You can reserve the name by submitting an application to the Ministry of Justice or through an online platform. Alternatively, 3E Accounting can get this and the rest of your paperwork done for you.
What Documents Do I Need for Company Incorporate in Uzbekistan?
To register your company, you must prepare a set of documents. These typically include:
- Articles of Association or Charter
- Memorandum of Association
- Identification documents of shareholders and directors
- Proof of address for the company’s registered office
- A notarised copy of the resolution to establish the company
For compliance and tax reporting purposes, you must open a business bank account in Uzbekistan. This account will be used for capital deposit and other financial transactions.
Registration, Licenses and Permits
You must also submit your business registration documents to the Ministry of Justice to apply for any relevant business licenses or permits you need. This will depend on the nature of your business and the sector you’re involved in. Sectors like the telecommunications, banking, or insurance sectors have specific licensing requirements that must be met.
You will also need a Taxpayer Identification Number (TIN), which can be obtained from the State Tax Committee (STC). STC is Uzbekistan’s main governing body for all tax-related matters and your business must comply with their local requirements.
Let’s Get Started
When you’re ready to begin your Company Incorporate in Uzbekistan, we are ready to help. This process requires careful planning, adherence to legal requirements, and an understanding of the local business environment. 3E Accounting’s experts are in the best position to do that.
