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Local business incentives
| The legal framework is increasingly favourable to foreign investments. The government tries to encourage the arrival of foreign investors, but investors are reluctant due to the complexity and limits concerning administrative procedures. However, a foreign investment promotion agency has been created in 1995. Indeed, the Foreign Investment Agency, based in Tashkent, tries to help foreign investors by trying to lighten administrative procedures and to inform investors of the different aids they can benefit from. Furthermore, there is a national insurance company which covers political and commercial risks in order to protect foreign investments.
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Legal forms of companies
| Form |
Number of partners/shareholders |
Minimum and/or maximum capital |
Liability |
Registration fee |
Release of financial documents |
|
Private Limited Company |
No minimum. |
Minimum RUR 50,000.
Each partner has to release 30% of his contribution. |
Liability is limited to the amount contributed. |
|
Yes |
|
Complementary Limited Company |
No minimum. |
Minimum RUR 50,000.
Each partner has to release 30% of his contribution. |
Liability involves the company's commitment on personal assets. |
|
Yes |
|
Close Public Limited Company |
No minimum.
|
RUR 500,000 |
Liability is limited to the amount contributed. |
|
Yes |
|
Open Public Limited Company |
No minimum.
|
RUR 1,000,000 |
Liability is limited to the amount contributed. |
|
Yes |
|
General Partnership. |
No minimum. |
No minimum.
25% of the contribution must be paid by each partner at the registration.
|
Liability is joint and several. |
|
No |
|
Limited Partnership. |
No minimum. |
No minimum.
25% of the contribution must be paid by each partner at the registration. |
Liability is unlimited for some partners and limited to the amount contributed for others. |
|
No |
Registration and licensing procedures
The registration process of foreign participation companies is complicated and bureaucratic. It starts with a registration with the Ministry of Justice (5 days are needed), then an accreditation with the Ministry of Foreign Economic Relations (from 7 to 15 days at least are needed).
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Foreign exchange control
As for profits and capital repatriation, law stipulates that they can be carried out by foreign investors, as well as other funds, with no limitation. They can possess foreign or national currencies bank accounts in the Uzbek Republic's banks.
Investors can use their accounts in national currency to get foreign currencies. Companies can keep the currencies resulting from the export of their production after payment of taxes and levies. Foreign investors who operate in certain sectors and export, can also be exempted from the obligation of currencies transfer.
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Regulations concerning equity investment
A majority holding interest in the capital of a local company is legal. Minimum is fixed at a 10% and there is no maximal limitation.
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Foreign Direct Investment inflows
in Uzbkistan
| FDI inflows |
2003 |
2004 |
2005 |
World rank (*)
2005 |
| FDI inflows (USD million) |
70 |
1 |
45 |
128/141 |
Source : UNCTAD - World Investment Report
Note : (*) World Rank = UNCTAD Inward FDI Performance Index. It is a measure of the extend to which a host country receives inward FDI relative to its economic size. It is calculated as a ratio of the country's share in global FDI inflows to its share in global GDP.
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| Last modified in
2006 - ongoing update
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