Setting up a company in Uzbekistan

So, in the previous blog we made, I told you what opportunities might be there. Today, I am specifically going to tell you what business opportunities could be there for people who want to do business. People in Pakistan think it is not secure, not safe, and they think that if we go to another country from Pakistan and do business, Uzbekistan can be kept as an option.

So, I tell them that inside Uzbekistan, you don’t need rocket science to do business. First, when you go to Uzbekistan on a visit visa, you go there and you can get your company registered. To get that company registered, you can contact a consultant there, you can also meet a lawyer, and if there is already some senior Pakistani present there, they can also guide you.

There is a department called the Chamber of Commerce, you can contact them, or whoever is responsible for registering companies. You can register your company in just 1–2 days for around 250. That is, take your passport with you and a few photos, you don’t need to take the company stamp, the stamp will be made there. Enter that department, tell them, “I want to open my company in Tashkent with this name.” They will give you the forms, and they will even help you fill the forms. After filling, they will tell you, “There is a bank in front, go to the bank and deposit this amount of money.” You go there, deposit the $ or 70 fees, they will take the receipt back. Then they will tell you, “Come back at 4:00 PM.”

If your conversation is at 10–11 AM, by then they will say, “This company under this name has been created for you.” You take the company stamp with you. Right in front of that office in Tashkent, there are various shops to make stamps. You go there, tell them, “I have created a company, please make a stamp,” they will make the stamp for you. At 4:00 PM, they have called you back, you go to the office and tell them, “The stamp is ready.” They will take your signatures from different places and stamp it, and one document will go to their records for your company. Your company will be created and given to you on the same day.

Now, what you have to do is that you can get your visa on that company. You can convert your visit visa into a business visa. For that, you have to go to another office and tell them, “I want this requirement, I want to get my visa and bring one or two employees from Pakistan and give them a visa too,” like you did in Dubai. They will ask about your bank account, which bank your account is in. You will have to open a bank account, and you will also have to take an office there and show it. Usually, offices are available, it’s not a big deal.

Then, you have to show an accountant and a local director. You will have a local director and an accountant. The accountant will cost you $50 per month, and the director maybe $1, because that director can be a director in other places too. So the expense will be around 150 dollars monthly, not much.

Now, all other requirements, the director is local, the accountant is local, they will guide you what to do. If you do this, the visa will be issued. You apply for the visa there, within 15–2 days you get approval from the Chamber of Commerce that yes, the company is created, bank account exists, director is appointed, accountant is appointed, it’s a proper company. Then they will issue you a one-year visa so that you can stay for one year with your own company.

If you are working there, your bank transactions are good, you have started paying taxes, then what you do is you have become a businessman, you become a member of the local Chamber of Commerce. After a year or one and a half years, you can bring more people from Pakistan on your company’s visa.