Registration of a Family Enterprise (FE)

A Family Enterprise (FE) in the Republic of Uzbekistan is a form of business activity based on the joint work of family members. The activities of such enterprises are regulated by the Law of the Republic of Uzbekistan “On Family Entrepreneurship” No. ZRU-327 dated April 26, 2012.

Officials of state bodies and other persons prohibited by law from engaging in entrepreneurial activities cannot be participants in a family enterprise.
A participant of one family enterprise cannot simultaneously be a participant in another family enterprise.

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Key Features of a Family Enterprise:

• Participants: Head of the family, spouse, children, grandchildren, parents, and other relatives of working age. Officials of state bodies and persons prohibited from engaging in entrepreneurial activities cannot be participants. Participants in one family enterprise cannot be involved in another family enterprise simultaneously.
• Liability: Participants bear subsidiary liability with their personal property for the obligations of the family enterprise if the enterprise’s property is insufficient.
• Charter Capital: There is no minimum requirement for charter capital unless specified by licensing requirements for specific activities.

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Registration Process for a Family Enterprise:

1. Consultation:
   • Providing information on legal and tax aspects of establishing an FE.
2. Preparation of Documents:
   • Drafting foundational documents, including the charter and minutes of the founders’ meeting.
   • Reserving the company name.
   • Preparing the design of a round seal and corner stamp.
3. Submission of Application:
   • Submitting documents to the relevant state authorities for registration.
   • Obtaining a registration certificate, TIN, and statistical codes.
4. Opening a Bank Account:
   • Preparing the necessary documents for opening a settlement account in a bank.
5. Additional Services:
   • Obtaining an electronic digital signature (EDS).
   • Registering with tax authorities and selecting a tax system.
   • Producing seals and stamps.