Uzbekistan: Operating a Business

Setting Up a Company

Private Limited Company: Number of partners: Minimum 1 shareholder with a maximum of 50
Capital (max/min): No minimum required; UZS 400,000,000 in the case of a foreign participation of at least 15%
Shareholders and liability: Liability is limited to the value of the capital contributed.
Close Public Limited Company: Number of partners: Minimum 3 shareholders
Capital (max/min): No minimum required; UZS 400,000,000 in the case of a foreign participation of at least 15%
Shareholders and liability: Liability is limited to the amount contributed.
Open Public Limited Company: Number of partners: Minimum 1 shareholder
Capital (max/min): No minimum required; UZS 400,000,000 in the case of a foreign participation of at least 15%
Shareholders and liability: Liability is limited to the amount of secured contribution.

Setting Up a Company	Uzbekistan	Eastern Europe & Central Asia
Procedures (number)	3.0	5.3
Time (days)	3.0	11.8

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Uzbekistan.

	2018	2019	2020
Labour Force	14,554,971	14,761,999	14,450,873

Source: International Labour Organization, ILOSTAT database

Source: International Labour Organization, ILOSTAT database

Legal Weekly Duration: The legal duration of work is 40 hours per week. Supplementary hours should be less than 4 hours for every 2 days or 120 hours per year. They are paid double the hourly salary.
Retirement Age: Men can claim their service pension from the age of 60 years after a minimum of 25 years of working.
Women can claim their service pension from the age of 55 years after a minimum period of 20 years of working.
Working Contracts: The Uzbek Employment Law that came into force in 1996, is available in Russian.
The work contract should be in writing. It is generally a permanent contract, but one for a period less than 5 years can also be signed. The probation period is of 3 months.
Labour Laws: Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

Minimum Wage: UZS 62,920 per month (source: ILO, 2011).
Social Contributions: Social Security Contributions Paid By Employers: Employer's contribution is upto 25% of the salary and is broken down as under:

24.2% towards Pension Fund ;
0.5% towards Unemployment Fund ;
0.3% towards the Trade Union Committee.
Social Security Contributions Paid By Employees: Employee contribution is 2.5%.

Social Dialogue and Involvement of Social Partners: The law gives the right to collective bargaining. In practice, the Government does not respect its laws. The Trade Unions which are government institutions have little power except in the health and industrial safety domain.
Unionisation Rate: According to the Uzbek legislation, there exists a right to create Trade Unions. But in reality, this right cannot be exercised by workers. The existing trade unions are dependent on the government.
Labour Regulation Bodies: Ministry of Employment and Social Protection

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