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BOND STONE in Uzbekistan

BOND STONE in Uzbekistan

BOND STONE in Uzbekistan

UZBEKISTAN  ·  BOND STONE

Bond Stone in Uzbekistan

Bond Stone is an internationally ranked law firm in Uzbekistan — ranked Legal 500 EMEA and IFLR1000, with a Tashkent office in Modera Business Centre. Bond Stone advises international investors, multinational corporations, and financial institutions on M&A, foreign investment, corporate law, tax advisory, TIFC structuring, dispute resolution, and employment matters in Uzbekistan.

Bond Stone entered the Uzbek market as the country opened to foreign investment following the reform programme launched in 2017. The Tashkent office provides full-service legal support to investors across all sectors — from initial market entry and company formation through to M&A execution, regulatory compliance, and dispute resolution.


Uzbekistan — Market Context 2026

USD 145B+

GDP 2025 — fastest-growing major CIS economy

7%+

Annual GDP growth — consistently above regional average

55

Bilateral investment and tax treaties

28

Special Economic Zones — with CIT and VAT incentives


Our Office in Uzbekistan

Tashkent — Modera Business Centre

Bond Stone’s Tashkent office is located in Modera Business Centre — a premium Class A office complex in Tashkent’s central business district. The Tashkent office provides full-service legal support to investors across all Bond Stone practice areas in Uzbekistan, with direct engagement with Uzbek state agencies, the Ministry of Justice, the State Tax Committee, and the Anti-Monopoly Committee.

Tashkent office →


Legal Services in Uzbekistan

Business Formation

OOO and JSC formation, branch registration, licences, work visas, liquidation

Corporate & Commercial Law

Joint ventures, due diligence, commercial contracts, corporate restructuring, privatisation

Mergers & Acquisitions

Share and asset acquisitions, privatisation, competition filings, Chinese investment

Foreign Investment

Investment vehicles, SEZs, EFI status, repatriation, privatisation

Dispute Resolution & Arbitration

International arbitration, enforcement of judgments, debt collection

Tax Advisory

CIT 15%, WHT & DTT planning, transfer pricing, VAT, SEZ tax incentives

Employment & Labour Law

Employment contracts, termination, work permits, expat employment

TIFC — Tashkent Financial Centre

TIFC entity structuring, TFSA licensing, tax exemptions until 2076


Bond Stone in Uzbekistan — Firm Profile

Tashkent office — Modera Business Centre

Bond Stone’s Tashkent office handles all Uzbekistan mandates — M&A, foreign investment, corporate formation, tax advisory, employment law, and TIFC structuring. The office has established working relationships with Uzbek state agencies, the Ministry of Justice, the State Tax Committee, the Anti-Monopoly Committee, and key regulatory bodies across the sectors Bond Stone serves.

Legal 500 EMEA — ranked for Uzbekistan practice

Bond Stone is ranked by Legal 500 EMEA and recommended by IFLR1000. Rankings reflect Bond Stone’s track record on cross-border M&A transactions, foreign investment structuring, and regulatory mandates in Uzbekistan — one of Central Asia’s fastest-growing investment destinations.

Chinese investor expertise

Bond Stone has an active Chinese investor mandate pipeline in Uzbekistan — advising on manufacturing JVs, infrastructure investment, SEZ structuring, and supply chain establishment. Bond Stone works alongside Chinese law firms on outbound Belt and Road investment into Uzbekistan across manufacturing, energy, and technology sectors.

Privatisation advisory

The Uzbek government’s privatisation programme — 29 state-owned enterprises designated for privatisation in 2025–2026 under Presidential Decree No. UP-47 dated 21 April 2025 — creates significant transaction flow for specialist legal advisers. Bond Stone advises both foreign acquirers and Uzbek government-linked counterparties on privatisation transactions across energy, manufacturing, and financial services sectors.

Senior-led practice

Every Bond Stone mandate in Uzbekistan is handled directly by a partner or senior associate. The Tashkent office Managing Director leads all Uzbek mandates with direct client engagement. Complex cross-border transactions are supported by Bond Stone’s Almaty and Astana offices where relevant — providing seamless coverage across both Kazakhstan and Uzbekistan on dual-jurisdiction mandates.


Investing in Uzbekistan

Uzbekistan — Investment Framework 2026

✦  GDP approximately USD 145 billion — fastest-growing major economy in Central Asia at 7%+ per year

✦  Law on Investments and Investment Activity No. ZRU-598 — EFI status, investment guarantees, national treatment

✦  28 Special Economic Zones — CIT and VAT incentives for qualifying investors

✦  15% CIT rate, 12% VAT — both frozen until 1 January 2028 under Presidential Decree No. UP-229

✦  55 double taxation treaties — WHT on dividends 10%, reduced under applicable DTT

✦  29 SOEs designated for privatisation in 2025–2026 — Presidential Decree No. UP-47 dated 21 April 2025

Uzbekistan — English Common Law Jurisdiction

Tashkent International Financial Centre (TIFC)

The TIFC — established by Presidential Decree No. UP-24 dated 3 March 2026 — is an independent English common law jurisdiction within Uzbekistan, modelled on the AIFC. TIFC participants benefit from tax exemptions until 2076, English common law governance, and access to the TIFC Court. Bond Stone advises on TIFC entity structuring and TFSA licensing from its Tashkent office.

Tashkent International Financial Centre — full guide →


Sectors We Advise in Uzbekistan

Mining & Metals

Gold, copper, uranium — subsoil acquisitions

Energy & Oil & Gas

Renewables, gas, investors & service companies

FinTech & Digital Assets

TIFC licensing, payment services, IT Tech Park

Pharmaceuticals & Healthcare

Market entry, licensing, localisation

Real Estate & Construction

Commercial property, development, construction

Manufacturing & Industrial

SEZ structuring, investment contracts

Transport & Logistics

Belt & Road corridor, transit operators

Financial Services & Banking

TIFC-regulated entities, banks, funds

Why Bond Stone in Uzbekistan

✦  Tashkent office — direct engagement with Uzbek state agencies and counterparties

✦  Full-service across all practice areas — no need for multiple advisers

✦  Active Chinese, Turkish, Gulf, European, and CIS investor mandate pipeline

✦  Dual-jurisdiction capability — Uzbekistan and Kazakhstan on a single mandate

✦  Ranked Legal 500 EMEA and IFLR1000


Contact Bond Stone in Uzbekistan

Contact our Tashkent office for a confidential discussion about your Uzbekistan legal matter.

📧 info@bondstonelaw.com
📞 +7 (701) 729 76 72 — Almaty (WhatsApp / Telegram)
📞 +998 97 415 04 80 — Tashkent (WhatsApp / Telegram)

Request a Confidential Consultation
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