For investor

Uzbekistan is open to foreign investors and its economy is growing. In his June 2026 speech, the President said that the country has attracted more than $150 billion in foreign investment, including $123 billion in the last five years. The government has also strengthened the legal protection of investors and updated the Law on Investments.

Foreign investors can invest in most sectors of the economy. In some regulated sectors, special rules apply. Please check the rules for your sector before you invest, and tell us your plans so that we can explain the conditions.

The main law is the Law "On Investments and Investment Activities" (Law No. LRU-598 of 25 December 2019, as amended). The Tax Code sets the taxes and the tax incentives. You can read the current texts of all laws on lex.uz, the national legal database.

No. A local partner is your choice, not a requirement. In most sectors, a company can be fully foreign-owned. In some regulated sectors, special rules apply, so please check your sector with us. If you would like a local partner, UZIPA can connect you with project owners and potential partners.

Under the Law on Investments, you can invest by:

• setting up a company or buying a share in the authorised capital of an existing company;
• buying securities;
• taking part in a concession;
• acquiring property rights, including intellectual property;
• acquiring rights to use land, including through a lease.

The Law on Investments gives foreign investors these main protections:

• Transfer of funds. You can bring foreign currency into Uzbekistan and send it back abroad. This applies if you have no unpaid taxes or other payments and no unresolved court or arbitration obligations.
• No nationalisation. Investments cannot be nationalised or requisitioned, except in emergencies such as natural disasters, accidents or epidemics, as set by law. If this happens, you receive adequate compensation.
• Stable rules. For 10 years from the date of your investment, changes in the law that make your position worse do not apply to you. You can choose to use new rules if they improve your position. This does not cover changes related to national security.
• No discrimination against investors.
• Compensation for losses caused by unlawful actions, inaction or decisions of state bodies.

The Government can sign an investment agreement with an investor. Such an agreement can give extra guarantees, help with financing, a special tax regime and monitoring of the project. The procedure is set by Resolution No. 180 of the Cabinet of Ministers.

Yes. The law guarantees foreign investors the right to transfer funds in foreign currency into and out of Uzbekistan, after they pay their taxes and meet their legal obligations. Dividends paid to foreign shareholders are normally taxed at 10%. A tax treaty can lower this rate.

These are the main standard rates for 2026. Special rules may apply to some companies and zones.

Tax incentives are set in the Tax Code and apply to every company that meets the conditions. The main options are:

• Enterprises with foreign investment: incentives that depend on the amount you invest and on other conditions.
• Free economic zones: tax and customs benefits (see "Free Economic Zones").
• Exporters: a 0% VAT rate on exported goods, with a refund of excess input VAT.
• IT Park residents: qualifying IT companies receive exemptions from several taxes.

Tell us about your project and we will explain which benefits may fit it.

Yes. Uzbekistan has signed tax treaties with many countries. A treaty can lower the tax on dividends, interest and royalties and helps you avoid paying tax twice on the same income. Ask us whether a treaty exists between Uzbekistan and your home country.

In free economic zones, you can import equipment from an approved list without customs duties, except clearance fees. Outside the zones, benefits depend on your sector and project. Contact us and we will explain the rules for your equipment.

Most filing and payments are done online. From 2026, the tax authorities prepare the returns for personal income tax, social tax, VAT and turnover tax automatically. You check the returns and can correct them within 5 business days. You remain responsible for the accuracy of the data.

A foreign investor can register:

• a limited liability company (LLC);
• a joint-stock company (JSC);
• a company with 100% foreign ownership;
• a joint venture;
• a representative office;
• an individual entrepreneur.

Follow these steps:

1. Get a personal identification number (JShShIR, also called PINFL). Foreign citizens receive it free of charge. Apply at a Public Services Centre (Davlat xizmatlari markazi) in Uzbekistan, or at an Uzbek embassy or consulate abroad. Bring your valid passport, or ask an authorised representative to apply with a power of attorney. It usually takes 2 to 4 working days.
2. Reserve your company name.
3. Choose the legal form and register your company. You can register online through the Birdarcha system (Ministry of Justice), or at a Public Services Centre.
4. After registration, register with the tax authorities, open a bank account and get a licence if your activity requires one.

For an LLC, online registration usually takes 1 to 3 days. The documents you need depend on the company type and on who the founders are, and the registration service shows the exact list.

No. Land belongs to the state. Foreign investors can acquire rights to use land, including through a lease. The conditions depend on the type of land and the project, so please contact us before you plan a site.

Rules for agricultural land are stricter. Since 1 May 2026, foreign investors cannot lease agricultural land directly or take part in auctions for it. Some options remain, for example sub-leasing through local directorates for larger projects, or sub-leasing rainfed and pasture land under project proposals. Please contact us for the latest conditions.

Yes. UZIPA helps investors search for, identify and acquire land plots and vacant or unused real estate for their projects. Tell us the size, location, utilities and budget you need, and we will suggest suitable options. We can also help organise site visits.

Utility companies provide these services. UZIPA helps investors prepare the documents for permits to connect to utility networks.

A free economic zone is a special territory where investors receive tax and customs benefits. The benefits depend on the size of your investment. Contact us and we will explain which zone and which conditions fit your project.

The length of your property tax, land tax and water usage tax exemption depends on your investment:

Other benefits include:

• No customs duties (except clearance fees) on imports for export-focused production.
• Deferral of VAT on imported goods for up to 120 days.
• VAT refunds within 7 days for zone participants.

Profit tax benefits for zone participants changed in 2026. Please ask us for the conditions that apply to your project.

Citizens of many countries can enter without a visa, usually for 30 days and in some cases 60 days. Citizens of other countries can apply for an electronic visa at e-visa.gov.uz. These lists change from time to time, so please check the website of the Ministry of Foreign Affairs before you travel.

Yes. Foreign citizens must register their place of stay within 3 working days after arrival. Hotels usually do this for their guests. Otherwise, you can register through my.gov.uz.

First, try to settle it by talking. If this does not work, you can go to court or to arbitration. In your contract, you can agree on arbitration, including international arbitration, and on the place and language of the arbitration. Uzbekistan is a party to the New York Convention, so foreign arbitration awards can be recognised and enforced in Uzbekistan.

Yes. Uzbekistan has signed investment protection treaties with many countries and is a member of the ICSID Convention. Ask us whether a treaty exists between Uzbekistan and your home country.

Contact UZIPA. After you invest, we help with questions and problems that arise during your project, within our authority.

UZIPA looks for foreign investors in promising sectors, contacts them and organises first talks. We then present investment projects proposed by Uzbek companies to interested investors, arrange meetings between investors and project owners, and help with questions that come up during the process.

Send your project details through the inquiry form. Our team checks whether your project meets our requirements (see the next question). If it does, we can include it in the proposals we present to foreign investors. Being included does not guarantee that an investor will invest.

To be accepted for our investment attraction service, your project should have:

• A business plan or feasibility study in English that shows the project is economically and financially viable and follows international standards.
• Presentation materials in Uzbek and English, prepared in the format approved by UZIPA.
• A financially stable project owner, with no overdue debts, bankruptcy or court cases that could put the project at risk.
• Proof of your own funds in the project. As a rule, your share should be more than 50% of the project's initial cost.
• An initial project cost of more than $1 million.

Before we share detailed documents, such as your business plan or financial statements, with an interested investor, a confidentiality agreement is signed. After that, we can provide the documents and arrange meetings between you and the investor. A UZIPA representative can join the meetings and help with questions that come up, within our authority.

The usual next steps are:

• We identify suitable projects based on your interests. We can provide feasibility information, including financial and operational data.
• We arrange virtual or in-person meetings with project owners, regional authorities or industry representatives.
• If you wish, we organise a visit to special economic zones to show you the infrastructure and benefits.
• Tell us which sectors or projects interest you, so that we can tailor our support.

Use the "Submit an inquiry" form at the bottom of this page. Tell us about your project, and a member of our investment team will contact you. You can also use the contact details in the page footer.

Foreign investors can use our services, whatever the size of their company. Uzbek companies can also work with us if their projects meet our requirements (see "For Local Businesses"). You do not need to have a final decision yet.

UZIPA gives investors information and advice on investing in Uzbekistan. Some services, such as document preparation, may be paid. Please contact us through the inquiry form for details.

After you start working on a project, a UZIPA staff member is assigned to you. This person:

• Stays in regular contact with you, about once a month or as we agree, to follow the progress of your project.
• Joins meetings between you and the project owner when you ask.
• Helps with questions and problems that arise, within our authority.

Yes. When you ask, we prepare a clear visit plan, meet you at the airport, take you to the project site, bring in the organisations you need to meet, organise a site tour and take part in your meetings.

Before we share a project owner's financial statements, company documents or business plan with an investor, both sides sign a confidentiality agreement.

Visit our Help Center for full information on UZIPA's services, or send us your question through the inquiry form.