Uzbekistan is one of Central Asia’s largest consumer markets and has continued reforms in privatization, energy, manufacturing, technology, logistics and foreign investment. It can suit investors seeking a local operating company, manufacturing base, services platform or access to a growing domestic market.
Foreign investors can use structures including an LLC, joint venture or 100% foreign-owned enterprise. Registration is increasingly digital and standard cases can be completed quickly.
The general corporate income tax rate is 15% and VAT is 12%.
The main risks are choosing the wrong tax regime, overlooking licences, failing to document beneficial ownership, delaying accounting and payroll setup, or assuming foreign directors can work without immigration authorization.
Uzbekistan has pursued broad economic liberalization and investor-service digitalization.
The official Invest Uzbekistan portal highlights reforms across infrastructure, energy, banking, industry, mining and technology.
Government investor services integrate business registration, licences, tax, customs, e-notary, employment and work-permit systems.
The 2026 investor guide also describes statutory protections including non-discrimination, repatriation rights subject to outstanding obligations, and specified stabilization protections.
The government’s single-window investor portal lists LLCs, joint-stock companies, 100% foreign-owned enterprises, joint ventures and representative offices.
An LLC is a common operating form.
The official investment guide states that standard company registration can often be completed within one business day after the necessary preparation.
Foreign founders may need a local personal identification number, company name, registered address, charter documents and beneficial ownership information.
After registration, the company should obtain digital-signature access, open a bank account, select the tax regime and obtain any sector licence.
The general corporate income tax rate is 15%.
The standard VAT rate is 12%.
Employment income is generally subject to 12% personal income tax, and the general employer social tax rate is 12%, although sector or employer-specific rules can differ.
Withholding taxes apply to certain Uzbekistan-source payments to non-residents. Treaty relief may be available where conditions are met.
Special regimes can materially reduce tax. For example, qualifying IT Park residents can access significant incentives.
Uzbek companies should maintain statutory accounting, tax returns, electronic invoices, payroll records and corporate documentation.
Foreign-invested companies should monitor annual tax, statistical, beneficial ownership, licence and corporate reporting obligations.
Banks conduct KYC on shareholders, directors and transaction flows. For foreign-owned businesses, clear source-of-funds and business-purpose documentation is important.
Uzbekistan’s investor portal links directly to labour systems for electronic employment contracts and work permits for foreign citizens.
Foreign directors and employees should confirm their right-to-work status before beginning local employment.
Investor, business and work immigration routes should not be treated as interchangeable.
Yes. The government investor portal lists a 100% foreign-owned enterprise as an available registration type.
The general rate is 15%.
The standard VAT rate is 12%.
The official investment guide says standard registration can often be completed within one business day after preparation.
Bank procedures vary. The investment guide notes that director presence can be required for account opening.
Foreign workers should use the applicable work-permit and migration procedures before employment.
Tannet can assist with Uzbekistan company registration and deregistration coordination, foreign shareholder documents, bank-account preparation, bookkeeping and tax reporting, annual compliance, payroll support, corporate amendments, licence coordination, and work-permit or visa process support.
For IT, manufacturing or incentive-based projects, Tannet can coordinate local specialists to verify eligibility before the investment is implemented.
For 28 years, Tannet Group Limited has been helping businesses establish and grow their presence in Asia and beyond. We provide comprehensive Asia business services covering company incorporation, corporate secretarial services, accounting and tax, audit, trademark registration, bank account opening, compliance, and cross-border business solutions.
With extensive local expertise and a global service network, we support businesses throughout their Asia journey—from company setup and banking to ongoing compliance, tax management, and international expansion.
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