Uzbekistan

Legal services provided - migration law (support in obtaining a residence permit), corporate law (incorporation, business operations support, licensing legal services, opening accounts), contract law (international trade legal support), litigations support, labor law, tax law (consulting, disputes), real estate transactions support.

Alexander Aronov, managing partner of “Aronov & Partners”, a lawyer: “Uzbekistan is a large country located in the center of Central Asia. Opening an office in Uzbekistan is based on several factors:

1. Uzbekistan has experiences great economic developing in recent years. The policy of current leadership is quite transparent and clear;
2. Very hospitable people, great weather and unique food;
3. There are historically close ties between Russia and Uzbekistan;
4. The laws and regulations of Uzbekistan are written in Russian and have common origin with Russian laws and regulation. Communication within the country is carried out in Russian, which is convenient for Russian-speaking principals.”

What Russian businesses which do business in the said jurisdiction shall know: 

• Staff costs, real estate rental are much lower than in Russia;
• Attractive taxation system;
• Income tax 15%;
• VAT 15%;
• The most popular form of corporate legal entity for doing business in the territory of the Republic of Uzbekistan is Limited Liability Company (LLC); Incorporation of a legal entity takes several days, the whole process is automated and simplified;
• Registration at the place of residence is issued without any constraints;
• There are restrictions for non-residents (individuals) in terms of transactions with bank accounts;
• It is necessary to register a mobile phone number;
• No service of nominee directors is provided;
• Strict banking control over transactions under international trade contracts;
• There are fast developing special economic zones for various types of activities;
• It is required to maintain timely tax and accounting records;
• “Ok” never means “yes”.
   

Corporate law 

The team of the Moscow Bar Association “Aronov & Partners CIS” has great experience in provision of legal services in Uzbekistan, including M&A projects (transactions) support for large international companies in the transport and consumer sectors, construction holdings, investment, trading and IT companies.
 

“Aronov & Partners CIS” provides support for M&A projects (transactions), including the following services:

• legal due diligence of the acquired asset;
• transaction structuring;
• participation in the negotiations on the terms of the transaction;
• preparation and analysis of relevant documentation on the transaction (preliminary contracts, contracts executed for the purpose of acquisition of assets; options, shareholder agreements; corporate resolutions; documents formalizing voluntary or mandatory offer, calls for redemption of shares; issue documents; documents necessary for approval of the transaction by governmental authorities);
• approval of the transaction by governmental authorities;
• if necessary, provision of a legal opinion in respect of the project (Legal Opinion).
   

Our specialists have great experience in establishment and legal support of companies in Uzbekistan.
 

Legal expertise and practical experience of “Aronov & Partners CIS” in the area of corporate law allows us to successfully carry out all types of corporate reorganizations, establish and optimize holding structures, provide legal support in the process of operating activities, and also provide legal support for complex projects.

Our specialists also have significant experience in development, implementation and verification of corporate policies and procedures, including anti-corruption and antitrust policies, procurement procedures, disclosure and protection of information, receiving and giving gifts, charity, etc.
 

“Aronov & Partners CIS” provides the following legal services:

• establishment and structuring of business (registration of companies, opening bank accounts, accounting support, selection of office space), compliance with all regulatory requirements and sanctions in regulated business areas;
• giving advice on corporate restructuring (reorganization and liquidation);
• holding negotiations and development of commercial contracts;
• giving advice on any aspects of corporate relations, including corporate governance matters, development of corporate procedures and policies provided by laws and regulations, their implementation and subsequent verification;
• preparation of documentation and organization of meetings of the board of directors and/or general meetings of shareholders (members);
• protection of business owners against corporate takeovers (hostile takeover).
   

Tax law

Specialists of “Aronov & Partners CIS” advise on Uzbek and international taxation advice to legal entities in the course of their business. 

Legal services provided in this area:

• Giving tax advice;
• Giving advice on doing business in Uzbekistan to individuals and legal entities which are residents of the Russian Federation;
• International tax structuring (incorporation of financial companies);
• Protection, representation of interests of principals during field tax audits;
• Administrative and judicial appeal against orders of tax authorities;
• Appeal of tax regulations in courts.
   

The team of “Aronov & Partners CIS” is ready to provide a wide range of legal services in the area of tax audit support and tax advice.