Registration of a Private Enterprise (PE) in Uzbekistan

A Private Enterprise (PE) is a form of commercial organization established by one individual. This structure allows entrepreneurs to independently manage their business while maintaining full control over all aspects of its operation. The activities of private enterprises are governed by the Law of the Republic of Uzbekistan “On Private Enterprises” dated December 11, 2003.

Features and Benefits of a PE

Simplified Management:

• The founder independently makes all decisions without requiring approval from other participants.
• The absence of shareholders or partners simplifies business operations.

Liability:

• The founder bears responsibility for the enterprise’s obligations with their property, as stipulated by law.
• In cases of financial risk, the founder is liable only with the assets registered under the PE.

Charter Fund:

• There are no legal restrictions on the size of the charter fund, which is determined by the founder.
• The fund must be fully formed within one year of registration.

Organizational and Legal Form:

• A PE is recognized as a legal entity with its own name, seal, and bank account.

Tax Advantages:

• PEs can opt for a simplified taxation system, minimizing tax liabilities.

Requirements for PE Registration

Founder:

• Only one individual can act as the founder.
• Both Uzbek citizens and foreign nationals are eligible to establish a PE.

Required Documents:

• Application for PE registration.
• Enterprise charter (required only in specific cases).
• Founder’s passport.
• Lease agreement or proof of property ownership.
• Receipt of state fee payment.

Registration Period: The registration process takes between 3 to 5 business days.

Why Choose a PE?

Ideal for Small Businesses:

• Perfect for entrepreneurs starting their business with minimal costs and simple management structures.

Simplified Tax Accounting:

• Option to use a streamlined tax system.

Minimal Reporting Requirements:

• PEs are only required to maintain basic accounting and submit simplified reports.

Legal Aspects of a PE

Legal Status:

• A PE is considered a legal entity and operates in accordance with the laws of Uzbekistan.
• It has the right to enter into contracts, acquire property, and initiate legal proceedings.

Rights and Obligations of the Founder:

• The founder has full authority to manage the enterprise’s property.
• The founder must comply with legal norms and submit required reports.

Closure of a PE:

• The enterprise may be liquidated at the founder’s discretion or by court order.
• The founder is obligated to notify creditors and tax authorities of the closure.

PE Registration with Ummeli Trust

Ummeli Trust provides a comprehensive range of services for the creation and registration of private enterprises in Uzbekistan. We help navigate bureaucratic challenges and legal requirements efficiently.

Consultation:

• Assess your needs and recommend the best solutions.
• Assist in selecting the appropriate tax regime.

Document Preparation:

• Draft applications and compile all necessary documents for submission.

Government Registration:

• Handle submission to the registration authority, ensuring compliance with timelines.

Bank Account Setup:

• Assist in choosing a bank and opening an account.

Obtaining Digital Signature (E-Signature):

• Facilitate the acquisition of an electronic signature for digital operations.