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flag Uzbekistan Uzbekistan: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Private Limited Company
Number of partners: Minimum 1 shareholder with a maximum of 50.
Capital (max/min): Minimum share capital of 150 000 USD if the company benefits from foreign investments .
Each partner has to release 30% of the statutory share capital on the day of the registration of the company and the remaining within a period of one calendar year.
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): The minimum share capital is 50 000 USD if the company benefits from foreign investments.
Shareholders and liability: Liability is limited to the amount contributed.
Open Public Limited Company
Number of partners: Minimum 1 shareholder.
Capital (max/min): The minimum share capital is 50 000 USD if the company benefits from foreign investments.
Shareholders and liability: Liability is limited to the amount of secured contribution.
The Competent Organization
The Ministry of Justice.
 
Setting Up a Company Uzbekistan Eastern Europe & Central Asia
Procedures (number) 6.0 6.0
Time (days) 12.0 14.0

Source: Doing Business.

 
Business Setup Procedures
Consult Doing Business Website, to know about procedures to start a Business in Uzbekistan.
Attorneys Service Group, Company formation in Uzbekistan

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The Active Population in Figures

201120122013
Labor force 16,110,00016,800,00016,990,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -64.60%61.00%
Men activity rate 71.00%74.40%74.70%
Women activity rate 58.40%47.60%47.70%

Source: UN - United Nations

 

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Working Conditions

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.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

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%.

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Social Partners

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.
Unionization 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.
Labor Regulation Bodies
Ministry of Employment and Social Protection

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Last Updates: January 2015