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Doing Business in Uzbekistan

A step-by-step guide for foreign founders: company registration, PINFL and EDS key, taxes, banking, staff and reporting.

iBookkeeper is an accounting and company-registration firm in Samarkand. We have worked with more than 100 clients from 18 countries. This book collects, in writing, what we explain to foreign founders in the first meetings, so you can read it before you fly.

Every chapter starts with a short answer, then gives the steps in order, what you need for each step and what you get. Rules in Uzbekistan change often, mostly for the better; every figure here was checked against official sources and the Big Four tax summaries on the date shown.

Facts checked 6 November 2026

Doing Business in UzbekistanDownload the PDFFree · the whole book in one file · English

The whole path on one page

The order matters more than the speed: each state system identifies you through the step before it.

  1. Prepare founder documents at homeApostille and translation of corporate documentsChapter 1
  2. Register your place of stayWithin 3 working days of arrival; hotels do it for youChapter 2
  3. Get your PINFLThe personal number every other system needsChapter 2
  4. Get a local SIM in your own nameState-service confirmations come to this numberChapter 2
  5. Get OneID and an EDS keyYour electronic signature for filing and signingChapter 3
  6. Register the companyOnline, a decision within one working dayChapter 1
  7. Choose the tax regimeTurnover tax or the general regime, with your numbersChapter 4
  8. Open the bank accountThe step that varies most; prepare the fileChapter 5
  9. Hire staff and get work permitsIncluding the foreign director, if neededChapter 7
  10. Start monthly bookkeepingFrom the first month, even with zero salesChapter 6

Chapters

  1. 01How to register a company in Uzbekistan as a foreigner, step by stepA foreign person or company can own 100% of an Uzbek limited liability company (LLC, in Uzbek MChJ), with no local partner and no minimum capital. Every foreign founder and the director first get a PINFL; then the company is registered online on my.gov.uz or at a Public Services Centre, usually within a day, and receives its taxpayer number at once. The state duty is 1 base value (440,000 som), 10% less online.
  2. 02How a foreigner gets a PINFL (personal identification number) in UzbekistanThe PINFL (in Uzbek JShShIR) is a 14-digit personal identification number that every state, bank and tax system uses to identify you. A foreigner gets it in person, free of charge, at a Public Services Centre or the migration department, with a passport and place-of-stay registration. The official term is one working day; in our work the PINFL and EDS key together usually take one to two days.
  3. 03How to get an EDS (E-IMZO) electronic signature key in UzbekistanThe EDS key (in Uzbek ERI, in Russian ЭЦП, sold under the name E-IMZO) is the electronic signature you use to file registrations, tax returns, e-invoices, employment contracts and foreign trade contracts. You get it after your PINFL; the company's key can be ordered together with the registration. Keep the key carrier and its password with the person who actually signs, and renew it before it expires.
  4. 04Uzbekistan tax rates in 2026 and how to choose a tax regimeA new company in Uzbekistan pays either turnover tax (usually 4% of income) or the general regime: 15% profit tax plus 12% VAT. Since 1 June 2026 a company may stay on turnover tax until its annual income passes 12,000 base values (about 5.3 billion som). Payroll costs 12% income tax withheld from staff and 12% social tax paid on top.
  5. 05How to open a corporate bank account in Uzbekistan as a foreign founderAfter registration, the company opens a som account at an Uzbek bank of its choice. The bank runs its own checks on the foreign founder and director, so the time varies from days to about two weeks; the first account usually needs the director in person. The som has been freely convertible for current payments since 2017: imports and dividends are paid through the bank without special permits.
  6. 06Accounting and tax reporting obligations for a company in UzbekistanEvery Uzbek company keeps double-entry accounts under national standards, files tax returns electronically in its cabinet on soliq.uz, signed with the EDS key, and issues e-invoices for every sale to a business. Returns are due monthly or quarterly depending on the tax; annual financial statements are due by 1 March. Late filing is fined automatically.
  7. 07Hiring staff and getting work permits in UzbekistanEmployment contracts are written and registered in the state labour system (my.mehnat.uz) with an EDS key. The employer withholds 12% income tax and pays 12% social tax on top. A foreign employee, and usually a foreign director, needs a work permit: the employer applies online on my.gov.uz and the decision takes up to 15 working days. iBookkeeper can help with permits case by case.
  8. 08Importing and exporting goods from Uzbekistan: customs, VAT and contractsBefore the first shipment, register the foreign contract in E-Contract (contract.customs.uz) with the company's EDS key. Customs declarations are filed electronically; imports pay customs duty by HS code plus 12% VAT, and exports of goods are zero-rated for VAT. The bank matches every payment to the contract and the declaration.
  9. 09Samarkand or Tashkent: where to set up your company in UzbekistanThe law, registration, taxes and reporting are the same in both cities; the differences are cost, people and customers. Tashkent (about 3.2 million people) has the banks, ministries, big clients and the deepest pool of English-speaking specialists. Samarkand is cheaper for offices and payroll and strong in tourism, education, food processing and trade. A company registered in one city can work in the other.
  10. 10How long it takes and what it costs to open a company in UzbekistanPlan for two to four weeks end to end. The state part is fast: the PINFL and EDS key take 1–2 days, and registration is decided within one working day. Most of the time goes on preparing documents at home and on the bank's checks. The state fees are small; most of the cost is translations, notary, the legal address and services.
  11. 11Practical advice for foreign founders in Uzbekistan: what nobody tells youState services in Uzbekistan are highly digital and fast when the documents are right; almost every delay we see starts with a badly translated, wrongly apostilled or inconsistent document. Everything is tied to your PINFL and phone number, so guard both. Keep a trusted local person who can act for you while you are abroad.
  12. 12PINFL, STIR, EDS, MChJ: Uzbek business terms explainedUzbek documents use Uzbek and Russian abbreviations, often for the same thing. The ones you will meet first: PINFL (JShShIR, ПИНФЛ) is your personal number, STIR (INN, ИНН) is the taxpayer number, EDS (ERI, ЭЦП, E-IMZO) is the electronic signature key, and MChJ (OOO, ООО) is a limited liability company.

This guide is general information, not legal or tax advice for your situation. Figures are current on the date shown and change; confirm them before you act.