Brief overview of Corporate Law in Uzbekistan:
The Civil Code enumerates the following conventional forms of companies:
- Open and Closed Stock Companies;
- Limited and Additional Liability Companies;
- Full and Limited Partnerships;
- Production Cooperatives (not considered in this memo);
- Unitary Enterprises and State Enterprises.
The Civil Code stipulates that a company may also be established in any other form provided by law. Indeed, in practice there are several additional forms of companies that are usually regarded as “hybrid” or “quasi” companies (Business Associations of Companies, Agricultural Firms, and Privatization Enterprises).
Although Uzbekistan law provides for a long range of legal forms of commercial entities, as a matter of practice, private business and foreign investors mostly prefer the following forms: JSC or LLC due to failure of other forms to establish comprehensive legal framework. Additionally, foreign companies may open a structural subdivision in Uzbekistan which is not authorized to conduct business operations.
Corporate practice provides an overview of Corporate Law of Uzbekistan, including overview of LLC, JSC, Representative offices, LLC vs. JSC comparisons, antitrust and incorporation issues, mergers and acquisitions, issues related to increase of Charter Fund, amending Constitutive documents of a Company, registering an accredited Representative Office of foreign company, liquidating a Company or Representative office, templates of documents and agreements, forms of advises on related matters.