Open a Foundation in Uzbekistan

Ready to open a foundation in Uzbekistan? You can use our online services. Please explore this article and then reach out to our Uzbek specialists in company formation for personalized assistance and services.

How is a foundation known in Uzbekistan?

• Public fund,
• Non-profit organization,
• Non-commercial organization,
• NNO/NGO.

Who approves foundations in Uzbekistan?

The Ministry of Justice.

How is a foundation registered in Uzbekistan? What is the applicable structure?

Public Fund – Jamoat fondi.

Can foreigners open foundations in Uzbekistan?

Yes, but the authorities will strictly review residency, nationality, etc.

Can legal entities set up foundations in Uzbekistan?

Yes.

What are the key steps in setting up a foundation in Uzbekistan?

• must first determine the mission of the foundation, mentioning the public benefits.
• prepare the founder’s charter and present the decision to establish a foundation in Uzbekistan,
• complete a standard form online (via Single Portal),
• open a temporary bank account in Uzbekistan,
• pay the administrative fee,
• submit all documents online or at the local office.

NOTE: In most cases, the online application/registration of a foundation in Uzbekistan is recommended. However, applicants can also start the formalities at a local office for entity registration. In both cases, our specialists in company formation in Uzbekistan can provide in-depth guidance.

What happens after submitting the documents? Are there any extra conditions imposed?

• the Registration Certificate is issued,
• the foundation representative can apply for a company seal, change the temporary bank account into a permanent one, and then register with the tax authorities in Uzbekistan.

Can I hire personnel when opening a foundation in Uzbekistan?

Yes, if the foundation’s activity requires it.

What happens to the income generated by the foundation in Uzbekistan?

It is used in agreement with the objectives & projects of the foundation in question.

Can the income be distributed to founders?

No.

Are there specific requirements when opening a foundation in Uzbekistan?

Founders must establish the procedures for donations and grants, alongside proper financial reporting. A specialized accountant in Uzbekistan should be hired.

What is the taxation of foundations in Uzbekistan?

• there is no CIT or VAT on donations made through the foundation in question,
• 12% is the social tax paid on the gross salary of employees, alongside personal income tax at the same rate,
• the 15% corporate income tax is imposed only if the foundation develops merchandising of specific training that generates money to support a social cause.

IMPORTANT: There is a 50% reduction on social and personal income tax in Uzbekistan for 3 years, meeting certain conditions.

Would you like to benefit from tailored offers when opening a company in Uzbekistan or perhaps a foundation? You can contact our Uzbek agents and explore the type of services we offer to our international customers.