Business Expenses

registering a company

Inspectorates for Registration of Entrepreneurial Entities under district and city khokimiyates are responsible for government registration of newly created companies in Uzbekistan, except for the enterprises with foreign investments (EFIs). Enterprises with foreigninvestments (EFI) are registered with the Ministry of Justice of the Republic of Uzbekistan, Republic of Karakalpakstan, regional Departments of Justice and Department of Justice of Tashkent city.

Since 2006 a notification procedure of business entity registration was introduced with the concurrent registration with state tax andstatistical authorities. State registration of business entities can be done based on the standard constituent documents, and submission of the notarized constituent documents is not required.

Legislation establishes the following minimum requirements to the authorized funds of the enterprise1 depending on the organizational-legal form:

    Limited liability or additional liability companies - at least 40 minimum monthly wages;

    Open type or closed type joint stock companies - USD 400,000

EFIs are companies, which meet following requirements:

1)     The amount of the authorized funds of the company cannot be less than the amount equivalent to USD 150,000;

2)     Foreign legal entity is one of the co-owners of the company;

3)     Share of foreign investments must be at least 30 percent of company's authorized funds.

Service

Cost, in minimum monthly wage (MMW) or Uzbek soums

State duty for state registration of businesses

1 MMW

State duty for state registration of EFI by justice bodies

5 MMW + USD 500

Notarizing the charter and constituent agreement, per document2

25% of MMW

Consular legalization of the records from the trade register3 about foreign founder

USD 10

Translation of the trade register, per page

USD 7-10

Notarizing the signature of the translator

10% of MMW

Notarizing the authenticity of the signatures in opening bank accounts

2% of MMW

Manufacturing seals and stamps

50 000 - 70 000

1   Legislation of Uzbekistan envisages minimum requirements to the authorized funds (assets, net assets) of businesses, whose operations require licensing. These regulations are contained in the respective provisions on licensing procedures and must be recorded in license agreements,

2   Required in registration of EFI.

Companies with foreign investments and other companies with foreign capital are required to submit the records from the trade register in the country of registration of the founder. This record must be endorsed by the consular institution of Uzbekistan.

About the Chamber of Commerce and Industry of Uzbekistan

The Chamber of Commerce and Industry of Uzbekistan (CCI) has been established in 2004 based on the Decree of the President of Uzbekistan and acts based on the Law on Chamber of Commerce and Industry of Uzbekistan. CCI is a non-government non-profit organization, which unites business entities regardless of their ownership form, number of workers, capital and areas of operations.

Main goals of operations of CCI are as follows:

          Creating favorable environment for business development;

          Improving business environment;

          Safeguarding the rights and legitimate interests of the members of the Chamber;

          Facilitating the contacts of entrepreneurs with foreign partners.

CCI members are granted a number of incentives and preferences focused on business facilitation in our country. For example, CCI members can use free-of-charge information on existing legislation of Uzbekistan related to taxation, customs procedures, business law, banking legislation, construction, etc. CCI protects the rights and legitimate interests of its members in government bodies, while the staff of the CCI participates in the audits of the CCI members by miscellaneous oversight bodies. A hotline has been instituted for rapid legal services.

CCI supports its members in obtaining preferential loans and promoting foreign investors in buying raw materials and equipment and exports including consignation through the system of offices and trade houses at CCIs in 20 countries of the world. Furthermore, CCI members have discounts of 10% of the costs of services of GS1 Association in obtaining bar codes for products as well as up to 50% discount in renting premises and equipment, accommodation of the guests in the best hotels in Tashkent. The staff of the companies - CCI members can attend trainings at preferential terms in different areas - internships in Germany, Turkey, Israel, Russia, Malaysia, Japan, South Korea, India, Singapore, and other countries are organized.

Membership Fees of the Chamber of Commerce and Industry of Uzbekistan

 

 

Contribution,

mmw

 

Businesses

Accession

 

membership fee (per annum)

Associated Members

negotiable, but at least 50

negotiable, but at least 200

Oblast level associated members

50

 

 

150

Major companies

10

 

 

100

Small businesses

3

 

 

20

Microfirms

2

 

 

6

Sole entrepreneurs doing business without forming a legal entity

0,5

 

 

1

MFERITMEDEF InternationalInternational Business CenterGov.uzPress ServiceOliy MajlisUzASARIO