Choosing your entry structure
The right entry structure depends on control, sector, tax objectives, and exit path. Direct subsidiaries are the default for most controlling positions; JVs make sense where local capability or licensing is essential; SPVs are common for project-finance or single-asset investments.
Foreign ownership and licences
Most sectors permit up to 100% foreign ownership. A limited set — banking, insurance, extractive industries, telecommunications, media — carries specific rules or approval requirements. Licensing is manageable but sector-specific; timelines vary from days to a few months.
Banking, FX, and repatriation
Uzbekistan's currency is convertible and profit repatriation is permitted subject to tax compliance. Dividends, service fees, royalties, and loan repayments each have distinct tax treatment; structuring the flow of funds early avoids friction later.
A shortlist to run before wiring capital
- Confirm sector-specific ownership and licensing rules
- Choose the holding jurisdiction (Cayman / Luxembourg / Netherlands / other)
- Pre-clear banking relationships in Uzbekistan and holding jurisdiction
- Model dividend, royalty, and service-fee flows for tax efficiency
- Confirm currency, repatriation, and treaty benefits
Full write-up in preparation
Executive summary and highlights below. Full report available on request under NDA.