Investment Policy Investment Policy of the Republic of Uzbekistanof the Republic of Uzbekistan

The investment legislation of The investment legislation of Uzbekistan is one of advanced Uzbekistan is one of advanced amongst legislations of the CIS amongst legislations of the CIS countries, and countries, and it incorporated major provisions of it incorporated major provisions of the international investment lawthe international investment law

The following laws form the basis of The following laws form the basis of

investment environment in Uzbekistan:investment environment in Uzbekistan:

On Foreign Investments;On Foreign Investments;

On Investment Activities;On Investment Activities;

On Guarantees and Measures of Protection On Guarantees and Measures of Protection of Rights of Foreign Investors.of Rights of Foreign Investors.

In addition there is number of legislative In addition there is number of legislative normative acts issued in the form of Decrees normative acts issued in the form of Decrees of the President and/or Resolutions of the of the President and/or Resolutions of the Government of Uzbekistan.Government of Uzbekistan.

Foreign investments in Uzbekistan could be Foreign investments in Uzbekistan could be made in different forms, and in particular:made in different forms, and in particular:

equity participation in charter funds and other property equity participation in charter funds and other property of business entities, banks, insurance institutions and of business entities, banks, insurance institutions and other enterprises established together with legal other enterprises established together with legal entities and/or with natural persons of Uzbekistan;entities and/or with natural persons of Uzbekistan;creation and development of business entities, banks, creation and development of business entities, banks, insurance institutions and other enterprises insurance institutions and other enterprises completely belonging to foreign investors;completely belonging to foreign investors;purchase of property, shares and other securities, purchase of property, shares and other securities, including the promissory notes emitted by residents of including the promissory notes emitted by residents of Uzbekistan; Uzbekistan; purchase of concessions, including concessions on purchase of concessions, including concessions on prospecting, exploration, extraction or use of natural prospecting, exploration, extraction or use of natural resourcesresources..

As of today, the most different forms of capital As of today, the most different forms of capital investment are offered to potential foreign investment are offered to potential foreign

investors:investors:

  creation of joint venture;creation of joint venture;

  creation of the enterprise with 100 % foreign creation of the enterprise with 100 % foreign capital;capital;

  purchase of a part or full package of shares purchase of a part or full package of shares of privatized enterprises.of privatized enterprises.   

Guarantees and Measures of Protection Guarantees and Measures of Protection of Foreign Investorsof Foreign Investors  

the state guarantees and protects the rights of the state guarantees and protects the rights of the foreign investors carrying out investment the foreign investors carrying out investment activity within the Republic of Uzbekistan.activity within the Republic of Uzbekistan.In case the subsequent legislation of the In case the subsequent legislation of the Republic of Uzbekistan deteriorates investment Republic of Uzbekistan deteriorates investment environment to foreign investors, within ten environment to foreign investors, within ten years from the moment of investment, the years from the moment of investment, the legislation acted on date of investment shall legislation acted on date of investment shall apply. The foreign investor is entitled to apply at apply. The foreign investor is entitled to apply at own discretion those provisions of the new own discretion those provisions of the new legislation which improve investment legislation which improve investment environment.environment.

In some cases on the basis of concluding investment In some cases on the basis of concluding investment agreement additional guarantees and measures of agreement additional guarantees and measures of

protection can be given to foreign investors at protection can be given to foreign investors at investment in:investment in:

the priority sectors providing steady economic the priority sectors providing steady economic growth, progressive structural changes of a growth, progressive structural changes of a national economy;national economy;the priority projects providing strengthening and the priority projects providing strengthening and expansion of an export potential of the country, expansion of an export potential of the country, its integration into world economic relations;its integration into world economic relations;projects in sphere of small business oriented at projects in sphere of small business oriented at processing of raw material and materials, processing of raw material and materials, production of consumer goods and services, production of consumer goods and services, providing population with employment.  providing population with employment. 

TAX SYSTEMTAX SYSTEM

The tax system of Uzbekistan consists of two The tax system of Uzbekistan consists of two modes: the single tax and general tax regime. modes: the single tax and general tax regime. Single tax payers are micro and small enterprises, Single tax payers are micro and small enterprises, and enterprises of trade and catering, legal and enterprises of trade and catering, legal entities in the implementation of the lottery, entities in the implementation of the lottery, sweepstakes and other games based on risk.  sweepstakes and other games based on risk.  Other companies fall under the general tax Other companies fall under the general tax regime. Also, there are taxes that are paid actors regime. Also, there are taxes that are paid actors both tax regimes. Below is invoked schematic both tax regimes. Below is invoked schematic table of the tax system of the Republic of table of the tax system of the Republic of Uzbekistan, as well as tax rates. Uzbekistan, as well as tax rates. 

Visa of the Republic of UzbekistanVisa of the Republic of Uzbekistan

According to the legislation of the Republic of According to the legislation of the Republic of Uzbekistan foreign citizens and stateless Uzbekistan foreign citizens and stateless persons can enter Uzbekistan or travel persons can enter Uzbekistan or travel through its territory for transit on the basis of through its territory for transit on the basis of entrance visas only.entrance visas only.

Visa of the Republic of UzbekistanVisa of the Republic of Uzbekistan

Foreign citizens and stateless persons can get Foreign citizens and stateless persons can get visas at the diplomatic representations and visas at the diplomatic representations and consular missions of the Republic of consular missions of the Republic of Uzbekistan abroad on the basis of the visa Uzbekistan abroad on the basis of the visa supportsupport

Visa support shall be issued on the basis of Visa support shall be issued on the basis of application of the inviting physical or juridical application of the inviting physical or juridical persons permanently or temporarily residing in persons permanently or temporarily residing in Uzbekistan submitted to the Ministry of Uzbekistan submitted to the Ministry of Foreign Affairs of the Republic of Uzbekistan. Foreign Affairs of the Republic of Uzbekistan.

Visa of the Republic of UzbekistanVisa of the Republic of Uzbekistan

In order to apply for the visa, foreign citizens and In order to apply for the visa, foreign citizens and stateless persons are to submit the following stateless persons are to submit the following documents to the diplomatic representation or documents to the diplomatic representation or consular mission of Uzbekistan abroad: consular mission of Uzbekistan abroad: passport or document of stateless person, passport or document of stateless person, expiry date of which must exceed the visa’s expiry date of which must exceed the visa’s period of validity not less than 3 months;period of validity not less than 3 months;2 copies of duly completed visa application form;2 copies of duly completed visa application form;2 passport-size colored photos. 2 passport-size colored photos.

Visa of the Republic of UzbekistanVisa of the Republic of Uzbekistan

For a transit visa foreign citizens and For a transit visa foreign citizens and stateless persons in addition to the above stateless persons in addition to the above mentioned documents must have a visa of mentioned documents must have a visa of the country of final destination and travel the country of final destination and travel documents with confirmed date of documents with confirmed date of departure from Uzbekistan. departure from Uzbekistan.

Embassy of the Republic of Uzbekistan Embassy of the Republic of Uzbekistan

in Islamic Republic of Iranin Islamic Republic of Iran

Pasdaran Avenue, Buston street, Nastaran Pasdaran Avenue, Buston street, Nastaran street, 21 Tehran street, 21 Tehran Tel.: 22832071; 22299780 Tel.: 22832071; 22299780

Fax: 22299158Fax: 22299158

Consular section Consular section

of the Embassy of the Republic of Uzbekistan of the Embassy of the Republic of Uzbekistan

in Islamic Republic of Iranin Islamic Republic of Iran

Pasdaran Avenue, Akdasie street, 4Pasdaran Avenue, Akdasie street, 4thth park-15 park-15 Tehran Tehran Tel./Fax: 22291519Tel./Fax: 22291519

International documents between the Government International documents between the Government of the Republic of Uzbekistan and the Government of the Republic of Uzbekistan and the Government

of the Islamic Republic of Iranof the Islamic Republic of Iran

On the reciprocal promotion and protection of On the reciprocal promotion and protection of investments, signed on 26.04.2002investments, signed on 26.04.2002For the avoidance of double taxation and For the avoidance of double taxation and exchange of information with respect to taxes on exchange of information with respect to taxes on income and capital, signed on 26.04.2002income and capital, signed on 26.04.2002On trade and economic cooperation, signed on On trade and economic cooperation, signed on 26.04.200226.04.2002MOU on reciprocal trade preferences, signed on MOU on reciprocal trade preferences, signed on 23.06.200323.06.2003

Useful Contacts Useful Contacts

Ministry for foreign economic relations, investments and Ministry for foreign economic relations, investments and trade of the Republic of Uzbekistan (MFERIT)trade of the Republic of Uzbekistan (MFERIT)

1, T.Shevchenko st., 700029, city of Tashkent, Uzbekistan, 1, T.Shevchenko st., 700029, city of Tashkent, Uzbekistan, Tel..: (99871) 138-50-00, Fax.: (99871) Tel..: (99871) 138-50-00, Fax.: (99871) 2239-17-51, 39-17-51, 2238-52-0038-52-00

email: secretary@mfer.uz, email: secretary@mfer.uz, www.mfer.uzUzInfoInvest Agency for Information and Assistance to UzInfoInvest Agency for Information and Assistance to the Foreign Investors under the Ministry for foreign the Foreign Investors under the Ministry for foreign economic relations,investments and trade of the Republic economic relations,investments and trade of the Republic of Uzbekistanof Uzbekistan

1, T.Shevchenko st., 700029, city of Tashkent, Uzbekistan, 1, T.Shevchenko st., 700029, city of Tashkent, Uzbekistan, Тel.: (99871) Тel.: (99871) 2238-91-00, Fax: (99871) 38-91-00, Fax: (99871) 2238-92-0038-92-00

e-mail: e-mail: uzinfoinvest@mfer.uz,, www.investuzbekistan.uz, , www.uzinfoinvest.uz

Insurance companiesInsurance companies

Madad Insurance companyMadad Insurance company 53 B, Usmon Nosir st., Tashkent, tel.: 53-40-1153 B, Usmon Nosir st., Tashkent, tel.: 53-40-11 UzAgrosug’urta Insurance companyUzAgrosug’urta Insurance company 13, Movarounnahr st., Tashkent, tel.: 13, Movarounnahr st., Tashkent, tel.: 2233-31-5233-31-52 UzbekInvest Insurance companyUzbekInvest Insurance company 49, Khadicha Sulaymonova st., Tashkent, tel.: 49, Khadicha Sulaymonova st., Tashkent, tel.: 2236-76-2736-76-27 Kafolat Insurance companyKafolat Insurance company 13, Movarounnahr st., Tashkent, tel.: 13, Movarounnahr st., Tashkent, tel.: 2233-26-9833-26-98 Alfa InvestAlfa Invest 107 B, Amir Temur st., Tashkent, tel.: 120-68-00107 B, Amir Temur st., Tashkent, tel.: 120-68-00 Asia Insurance LLCAsia Insurance LLC 34, Shevchenko st., Tashkent, tel.: 300-00-1134, Shevchenko st., Tashkent, tel.: 300-00-11

Certification BodiesCertification Bodies

O’ZBEKEKSPERTIZA OJSCO’ZBEKEKSPERTIZA OJSC 51, Parkent st, Tashkent, 10000751, Parkent st, Tashkent, 100007, , tel.: tel.: 2238-53-5738-53-57, , fax: fax: 2240-09-2040-09-20 e-mail: uzbekexpert@yahoo.come-mail: uzbekexpert@yahoo.com

Uzbek Agency for Standardization, Metrology, and Uzbek Agency for Standardization, Metrology, and CertificationCertification

(Oz’Standard Agency)(Oz’Standard Agency), , 333, Farobiy st., Tashkent 700049333, Farobiy st., Tashkent 700049 tel.: tel.: 2244-96-01, 396-85-0744-96-01, 396-85-07, , hotline: 393-16-13hotline: 393-16-13, , fax: fax: 2244-80-28, 44-80-28,

2244-80-3144-80-31, , website: website: www.standart.uz e-mail: uzst@standart.uze-mail: uzst@standart.uzStandardization, Metrology, and Certification Research Standardization, Metrology, and Certification Research InstituteInstitute

9, Cholpon Ota st., Tashkent 7000599, Cholpon Ota st., Tashkent 700059 tel.: 362-85-67, 362-80-55, tel.: 362-85-67, 362-80-55, fax: 362-85-55fax: 362-85-55, , website: website: www.smsiti.ilim.uz e-e-

mail:smsiti@uzsci.netmail:smsiti@uzsci.net

Certification BodiesCertification Bodies

Republican Testing and Certification CenterRepublican Testing and Certification Center 333, Farobiy st., Tashkent 700049333, Farobiy st., Tashkent 700049, , Tel.: (998-71) Tel.: (998-71) 2250-63-5350-63-53 Hotline: Hotline: 2214-37-80, Fax: (998-71)14-37-80, Fax: (998-71)2250-63-54, 50-63-54, e-mail: sertcenter@standart.uze-mail: sertcenter@standart.uz

Center of National Standards (CNS)Center of National Standards (CNS) 333, Farobiy st., Tashkent 700049, tel.: 249-35-08, fax: 249-35-08333, Farobiy st., Tashkent 700049, tel.: 249-35-08, fax: 249-35-08 e-mail: nscenter@standart.uze-mail: nscenter@standart.uz

Metrology Services CenterMetrology Services Center 333, Farobiy st., Tashkent 700049333, Farobiy st., Tashkent 700049 tel.: 250-26-03, hotline: 250-26-12, fax: 250-26-15tel.: 250-26-03, hotline: 250-26-12, fax: 250-26-15 e-mail: metrolog@sarkor.uze-mail: metrolog@sarkor.uz Bar-code CenterBar-code Center 9, Cholpon Ota st., Tashkent 700059, tel.: 253-80-70, fax: 253-80-709, Cholpon Ota st., Tashkent 700059, tel.: 253-80-70, fax: 253-80-70 e-mail: biserovkamil@mail.rue-mail: biserovkamil@mail.ru

"GS1 Uzbekistan" Association (EAN Uzbekistan)"GS1 Uzbekistan" Association (EAN Uzbekistan) 6, Bukhara st., Tashkent, 100047, tel.:236 71 31, fax:236 79 466, Bukhara st., Tashkent, 100047, tel.:236 71 31, fax:236 79 46 e-mail: e-mail: info@gs1uz.org website: website: www.gs1uz.org

Thanks for attention!Thanks for attention!