How to opening LLC in Uzbekistan : Complete Guide
Uzbekistan offers favorable conditions for doing business, including a flexible taxation system, simplified company registration processes, and opportunities for foreign nationals. Non-residents can establish a Limited Liability Company (LLC) in Uzbekistan on equal terms with local entrepreneurs. This article outlines the steps for registering an LLC in Uzbekistan for non-residents.
Why Should Non-Residents Choose an LLC?
An LLC is the most convenient business structure for foreign investors because it allows you to:
- Limit participants' risks to their contributions to the charter capital.
- Attract investments and scale the business.
- Operate in various sectors: trade, manufacturing, construction, IT, and more.
1. Who Can Open an LLC in Uzbekistan?
Non-residents can include:
- Individuals — foreign citizens.
- Legal entities — foreign companies.
Features for Non-Residents:
- An LLC can be entirely foreign-owned or have a mixed composition of foreign and local participants.
- Foreign companies can act as founders if they provide an extract from the trade register in their home country.
2. Preparation for Opening an LLC
Before registering a company, it is essential to complete several steps.
Decide on the Type of Activity
An LLC has access to a wide range of activities. Some fields, such as financial services or construction, may require additional licenses.
Choose a Taxation System
The taxation system depends on the type of activity:
- VAT (12%): for companies selling goods or services.
- Profit Tax (0–20%): the rate depends on the type of business.
- Turnover Tax (0–4%): applies if the annual income does not exceed 1 billion UZS.
- Social Tax (1–25%): for employee salaries.
3. What Documents Are Required for Non-Residents?
To register an LLC with foreign participation, the following documents are required:
- Copy of the founders' passports.For foreign founders, a notarized translation of the passport may also be needed.
- Extract from the trade register (for legal entities).
- Company charter.
- Seal design.
- Company address.Proof of address (rental agreement or ownership certificate) is required.
- Document confirming payment of the state fee.
4. Registering an LLC for Non-Residents: Step by Step
Step 1. Obtaining a PINFL
Each foreign founder must obtain a Personal Identification Number for Individuals (PINFL). This is done at the migration and citizenship office.
How Azma Finance can help:
- We organize the process of obtaining a PINFL for foreign founders without requiring their personal presence.
Step 2. Preparing the Charter Documents
Charter documents include the company charter, which outlines:
- The company's name and address.
- The procedure for forming the charter capital.
- The rights and obligations of participants.
How Azma Finance can help:
- We will draft charter documents in compliance with Uzbek legislation.
Step 3. Registering the LLC
Company registration can be completed:
- Online: through the EPIGU portal. This is a convenient option for non-residents abroad.
- In person: at the Center for Public Services.
Registration process:
- Fill out the application for opening an LLC.
- Pay the state fee (306,000 UZS for online registration, 340,000 UZS for in-person submission).
- Attach the charter documents and copies of passports.
- Obtain the registration certificate.
How Azma Finance can help:
- We handle the entire registration process, including preparing applications, submitting documents, and paying the state fee.
Step 4. Opening a Bank Account
To conduct business, the LLC must open a bank account in Uzbekistan. For this, you will need:
- The registration certificate.
- The company charter.
- Passports of the founders and director.
How Azma Finance can help:
- We advise on the best banks for non-residents and prepare the necessary documents for account opening.
5. Features of Doing Business for Non-Residents
Access to Benefits
Foreign companies and investors may qualify for tax benefits when operating in Uzbekistan's Free Economic Zones (FEZ).
Currency Transactions
Companies with foreign participation can freely conduct currency transactions through their accounts.
Reporting Obligations
An LLC must maintain accounting records and submit reports to tax authorities, including:
- Tax reports.
- Social payment reports.
How Azma Finance can help:
- We provide accounting services, freeing you from dealing with complex tax matters.
Why Choose Azma Finance for LLC Registration?
- Time-saving: We handle all issues related to documents and registration.
- Professionalism: Extensive experience working with foreign clients ensures quality results.
- Flexibility: Our services are tailored to the needs of non-residents.
Ready to Open an LLC in Uzbekistan?
Visit Azma Finance — Business Registration and leave an application. Our specialists will contact you to assist with LLC registration and support your business at every stage!