Address:
260A Bogishamol st., Tashkent
260A Bogishamol st., Tashkent
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How We Support Businesses
We assist international companies at every stage of doing business in Uzbekistan — from market entry to full-scale financial and legal management.
You can choose individual services or work with us on a full-cycle basis. Every business requires a tailored approach — we don’t follow templates. Instead, we build the right format, team, and scope of work around your specific needs.
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Company Set-Up Concierge Package
Start without guesswork: Get a clear overview of our company formation offer — including pricing, timelines, and what’s included — in a free downloadable guide.
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Business Advisory
HR & Payroll
CFO Outsourcing
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Accounting & Tax
We maintain accounting in accordance with the legislation of Uzbekistan. We regularly submit reports, track changes, and warn of risks.
What we do:
- setting up and restoring accounting
- preparing and submitting reports
- calculating and optimizing taxes
- representing interests in tax authorities
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A financial director who is in touch with you — but without the need to keep them on staff.
Within the service:
- budget planning and control
- management reporting
- analysis of key financial indicators
- preparing the company for scaling or sale
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Legally correct employment of staff and a full cycle of calculations.
Includes:
- drafting employment contracts
- calculating salaries and taxes
- ompliance with labor legislation
- consultations on HR issues
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We advise on key issues faced by foreign investors in Uzbekistan.
Examples of inquiries:
- market entry strategy
- optimal business structure
- assessment of tax and legal risks
- preparation for inspections and interaction with government agencies
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frequently asked questions
Foreign investors have several options depending on their business goals:
LLC (Limited Liability Company): The most flexible and popular option; no minimum capital required (except for licensed activities); shareholders are liable only within their contributions.
JSC (Joint Stock Company): Used for regulated industries (banks, insurance); allows share issuance; requires more governance.
Representative Office: For non-commercial activities such as marketing, research, and liaison; cannot generate revenue or sign contracts.
Permanent Establishment (PE): For tax purposes only; useful when a foreign company has a local presence without legal incorporation.
👉 Tip: LLC is the fastest and most common choice for foreign investors, especially in trading, services, and light manufacturing.
LLC (Limited Liability Company): The most flexible and popular option; no minimum capital required (except for licensed activities); shareholders are liable only within their contributions.
JSC (Joint Stock Company): Used for regulated industries (banks, insurance); allows share issuance; requires more governance.
Representative Office: For non-commercial activities such as marketing, research, and liaison; cannot generate revenue or sign contracts.
Permanent Establishment (PE): For tax purposes only; useful when a foreign company has a local presence without legal incorporation.
👉 Tip: LLC is the fastest and most common choice for foreign investors, especially in trading, services, and light manufacturing.
The Uzbek tax system offers a stable and improving framework:
Corporate Income Tax (CIT): 15%
Value Added Tax (VAT): 12%
Withholding Tax (WHT): 5% on dividends, up to 20% on some payments (reduced under tax treaties)
Personal Income Tax (PIT): 12%
Social contributions: ~12–15% of employee salary (employer’s share)
The 2024 Tax Code also introduced:
A revenue tax for certain sectors
Taxes on subsoil mineral use
A modernized transfer pricing regime
👉 Note: Always check double tax treaties to reduce WHT rates.
Corporate Income Tax (CIT): 15%
Value Added Tax (VAT): 12%
Withholding Tax (WHT): 5% on dividends, up to 20% on some payments (reduced under tax treaties)
Personal Income Tax (PIT): 12%
Social contributions: ~12–15% of employee salary (employer’s share)
The 2024 Tax Code also introduced:
A revenue tax for certain sectors
Taxes on subsoil mineral use
A modernized transfer pricing regime
👉 Note: Always check double tax treaties to reduce WHT rates.
Registration usually takes 5–10 business days under the “One-Stop-Shop” system. Requirements:
Charter documents in Uzbek
Founding agreement and legal address
Bank account in a local bank
Personal Identification Number (PINFL) for foreign directors
Possible licensing depending on industry
Electronic registration is available via my.gov.uz.
👉 Tip: Engage a local consultant to avoid paperwork issues and translation delays.
Charter documents in Uzbek
Founding agreement and legal address
Bank account in a local bank
Personal Identification Number (PINFL) for foreign directors
Possible licensing depending on industry
Electronic registration is available via my.gov.uz.
👉 Tip: Engage a local consultant to avoid paperwork issues and translation delays.
Yes, Uzbekistan allows profit repatriation after taxes and obligations are settled.
Bank transfer rules: Use licensed local banks and formal contracts
Currency control: All payments in foreign currency require supporting documents
Tax clearance: While not always required upfront, it is advisable to ensure smooth remittance
👉 Best practice: Maintain clean accounting, pay taxes on time, and document all cross-border flows.
Bank transfer rules: Use licensed local banks and formal contracts
Currency control: All payments in foreign currency require supporting documents
Tax clearance: While not always required upfront, it is advisable to ensure smooth remittance
👉 Best practice: Maintain clean accounting, pay taxes on time, and document all cross-border flows.
Uzbekistan’s labor market has its own specifics:
Employment contracts must be in Uzbek or Russian.
Minimum wage and working hour rules apply.
Social taxes must be withheld and paid.
Foreign workers need work visas and permits, but founders investing ≥USD 3 million can apply for 10-year residence permits.
👉 Tip: Hire local HR or legal advisors to stay compliant and avoid fines, especially for expatriate management.
Employment contracts must be in Uzbek or Russian.
Minimum wage and working hour rules apply.
Social taxes must be withheld and paid.
Foreign workers need work visas and permits, but founders investing ≥USD 3 million can apply for 10-year residence permits.
👉 Tip: Hire local HR or legal advisors to stay compliant and avoid fines, especially for expatriate management.
Yes, Uzbekistan offers multiple incentives:
Free Economic Zones (FEZs): Provide tax holidays on CIT, VAT, property tax; customs exemptions; simplified customs clearance.
Investment incentives: Reduced tax rates or exemptions in priority sectors (IT, pharmaceuticals, textiles, renewable energy, agri-processing).
Legal protections: The Law on Foreign Investments guarantees protection against nationalization and unfair treatment.
👉 Tip: Apply for FEZ benefits early — they can dramatically improve project economics.
Free Economic Zones (FEZs): Provide tax holidays on CIT, VAT, property tax; customs exemptions; simplified customs clearance.
Investment incentives: Reduced tax rates or exemptions in priority sectors (IT, pharmaceuticals, textiles, renewable energy, agri-processing).
Legal protections: The Law on Foreign Investments guarantees protection against nationalization and unfair treatment.
👉 Tip: Apply for FEZ benefits early — they can dramatically improve project economics.
Uzbekistan’s transfer pricing (TP) regime applies to:
Domestic and international transactions between related parties over UZS 5 billion
Certain foreign trade deals (commodities, offshore entities)
Obligations:
Notification on controlled transactions (annually, by financial statement deadline)
Transfer Pricing Documentation (benchmarking studies, pricing justifications) within 30 days of tax authority request
👉 Penalty: 40% of underpaid tax if found non-compliant
👉 Tip: Develop a TP policy and engage advisors to avoid audit risks.
Domestic and international transactions between related parties over UZS 5 billion
Certain foreign trade deals (commodities, offshore entities)
Obligations:
Notification on controlled transactions (annually, by financial statement deadline)
Transfer Pricing Documentation (benchmarking studies, pricing justifications) within 30 days of tax authority request
👉 Penalty: 40% of underpaid tax if found non-compliant
👉 Tip: Develop a TP policy and engage advisors to avoid audit risks.
While Uzbekistan is improving its business climate, challenges remain:
Complex customs and licensing processes
Evolving currency convertibility rules
Limited local management and finance talent in specialized sectors
Need for strong local legal and tax advisors to navigate bureaucracy
Adapting to local business culture and informal networks
👉 Best approach: Build trusted local partnerships, invest in compliance systems, and allocate budget for professional advisory.
Complex customs and licensing processes
Evolving currency convertibility rules
Limited local management and finance talent in specialized sectors
Need for strong local legal and tax advisors to navigate bureaucracy
Adapting to local business culture and informal networks
👉 Best approach: Build trusted local partnerships, invest in compliance systems, and allocate budget for professional advisory.
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We're with you at every step
From the very first inquiry, a dedicated specialist is assigned to your case. They dive into the details, guide you through every stage, and answer all your questions
Accounting & Tax
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CFO Outsourcing
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HR & Payroll
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Business Advisory
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