Types of companies in Uzbekistan student of st-70: Xamidullo O’rinboyev

Types of companies in Uzbekistan

student of ST-70: Xamidullo O’rinboyev

Foreign investors who want to start companies in Uzbekistan will be interested to know that Uzbekistan in one of the largest cotton producers in the world and it also has the largest gold mine on a global scale. Also, Uzbekistan is one of the most important natural gas producers in the world. Enterprisers interested in setting up companies in Uzbekistan can start their businesses in any of the industries above.

The following types of structures are available in Uzbekistan:

-          sole proprietorships;

-          partnerships;

-          limited liability companies.

Sole traders in Uzbekistan

The sole proprietorship is the simplest business form in Uzbekistan and can be owned by one person who will conduct the activities under his or her own name. There are no share capital requirements in the case of a sole trader, however the owner will be liable with his or her personal assets for the obligations of the business.

Partnerships in Uzbekistan

The partnership can be set up as a general or a limited liability partnership in Uzbekistan, however the latter is more popular here because it is used to provide professional services. The most important requirement to open a partnership in Uzbekistan is to have at least 2 members.

Limited liability companies in Uzbekistan

The limited liability company is the most common business form used by local and foreign investors in Uzbekistan. This is one of the reasons it has several forms, among which:

-          private limited liability company which requires a minimum share capital of 40 times the minimum wage;

-          the public limited liability company or joint stock company which requires a minimum capital of 400,000 USD;

-          the free zone limited liability company.

Company formation steps in Uzbekistan

Those who want to open a company in Uzbekistan must complete the following steps:

-          prepare the company’s incorporation documents;

-          make a company seal;

-          open a corporate bank account;

-          pay the company registration fee;

-          file the documents with the Trade Register.