Business in Uzbekistan. Entering the Uzbek market
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Save your business tens of thousands of dollars
when entering the Uzbek market
Save your business tens of thousands of dollars
when entering the Uzbek market
General information
Population
33 469 203 people Official language
Uzbek Main religion
Islam Currency
Uzbekistani som (UZS) Time zone
UTC+5 Economy of Uzbekistan
GDP per capita
2281 USD Economic growth
5,1% Unemployment
4,8% Inflation
9,1% Investment inflow
2,7 billion USD Business in Uzbekistan
Popular type of legal entity
Limited liability company (LLC) Minimum number of shareholders
1 Company registration period
5 days Minimum share capital
37.6 million som (approximately 3,500 USD) Restrictions for foreigners on starting a business
Yes, foreign investors must obtain government approval A local director is required?
No Corporate tax
15% VAT
15% Advantages and disadvantages
Advantages
strategic location along the Silk Road, government incentives for foreign investors, and growth potential across various sectors including agriculture, energy, and tourism Disadvantages
challenges include corruption, political and economic instability, limited access to financing, complex bureaucratic procedures, language barriers, and a shortage of skilled labor