UZBEKISTAN \u00a0\u00b7\u00a0 FOREIGN INVESTMENT<\/p>\n
Bond Stone advises foreign investors on investment incentives in Uzbekistan \u2014 28 Special Economic Zones, 389 Small Industrial Zones, IT Tech Park, and sector-specific incentives. Uzbekistan’s SEZ incentive landscape is among the most comprehensive in Central Asia \u2014 offering CIT exemptions, VAT exemptions, customs duty relief, and simplified administrative procedures for qualifying investors.<\/p>\n
Primary authority: Law “On Special Economic Zones” No. ZRU-574 dated 20 August 2019; Law “On Investments and Investment Activity” No. ZRU-598 dated 25 December 2019; Presidential Decree No. UP-47 dated 21 April 2025 (privatisation and investment framework). Authority: lex.uz<\/a><\/p>\n <\/p>\n Uzbekistan \u2014 Market Context 2025<\/p>\n USD 145B<\/p>\n GDP 2025<\/p>\n<\/div>\n 7.7%<\/p>\n GDP growth 2025<\/p>\n<\/div>\n USD 43B<\/p>\n FDI 2025<\/p>\n<\/div>\n 50+<\/p>\n BITs \u2014 investor protection<\/p>\n<\/div>\n<\/div>\n<\/div>\n Special Economic Zones \u2014 Law No. ZRU-574 (2019)<\/p>\n Uzbekistan’s SEZ framework is governed by the Law on Special Economic Zones No. ZRU-574 dated 20 August 2019. Uzbekistan currently operates 28 SEZs across various sectors and regions. Each SEZ has specific qualifying activity requirements, minimum investment thresholds, and operating conditions set by the relevant SEZ administration. SEZ residents typically benefit from: corporate income tax (CIT) exemption for the duration of the investment; VAT exemption on goods produced within the SEZ; land tax and property tax exemptions; and customs duty relief on imported equipment and raw materials. Bond Stone advises on SEZ eligibility, application, and operating condition compliance.<\/p>\n<\/div>\n Small Industrial Zones \u2014 389 zones<\/p>\n Uzbekistan’s 389 Small Industrial Zones (SIZs) are smaller, regionally distributed investment zones with simplified entry requirements compared to full SEZs. They provide infrastructure access, reduced administrative burden, and sector-specific incentives for smaller manufacturing and processing investments. Bond Stone advises on SIZ qualification and the available incentive packages by zone.<\/p>\n<\/div>\n IT Tech Park \u2014 Presidential Decree No. UP-5099 (2017)<\/p>\n The IT Tech Park provides: income tax exemption until 2028 (extendable by government decision); VAT exemption; exemption from social tax on employee salaries; and a simplified work permit regime for foreign IT specialists. IT Tech Park residency requires the entity’s primary activity to be IT development, IT services, or related technology activities. Bond Stone advises on IT Tech Park eligibility and registration.<\/p>\n<\/div>\n Free Economic Zones \u2014 Navoi, Angren<\/p>\n Specific free economic zones \u2014 including Navoi FEZ and Angren SEZ \u2014 provide additional incentives for large-scale industrial investment including extended CIT exemption periods and enhanced customs duty relief. Bond Stone advises on FEZ-specific eligibility criteria and the application process for qualifying investors.<\/p>\n<\/div>\n Investment agreement \u2014 stability guarantee<\/p>\n Foreign investors committing to significant investments in Uzbekistan may enter into investment agreements with the government under the Law on Investments and Investment Activity No. ZRU-598 \u2014 providing a stability guarantee that protects agreed tax and regulatory conditions against adverse legislative change for a specified period. Bond Stone advises on qualifying for and negotiating investment agreements with the relevant Uzbek state authority.<\/p>\n<\/div>\n<\/div>\n Bond Stone has advised foreign investors on investment structuring in Uzbekistan. Client confidentiality is maintained across all matters.<\/p>\n SEZ Application \u2014 Chinese Manufacturer<\/p>\n Incentives \u00b7 Uzbekistan \u00b7 SEZ \u00b7 China<\/p>\n Advising a Chinese manufacturer on SEZ residency in Uzbekistan \u2014 eligibility against qualifying activity requirements, minimum investment threshold, application preparation, and review of CIT, VAT, and customs duty exemption schedule.<\/p>\n<\/div>\n IT Tech Park Registration \u2014 Foreign IT Company<\/p>\n Incentives \u00b7 Uzbekistan \u00b7 Technology<\/p>\n Advising a foreign IT company on IT Tech Park registration \u2014 eligibility assessment, income tax exemption scope, work permit simplification, and ongoing compliance with IT Tech Park operating conditions.<\/p>\n<\/div>\n SIZ \u2014 Turkish Manufacturer<\/p>\n Incentives \u00b7 Uzbekistan \u00b7 Turkey \u00b7 Manufacturing<\/p>\n Advising a Turkish manufacturer on Small Industrial Zone eligibility in Uzbekistan \u2014 zone selection based on sector and location, application procedure, available tax incentives, and infrastructure access.<\/p>\n<\/div>\n Investment Agreement \u2014 Stability Guarantee<\/p>\n Incentives \u00b7 Uzbekistan \u00b7 Corporate<\/p>\n Advising a European investor on qualifying for an investment agreement with the government of Uzbekistan \u2014 investment threshold analysis, priority sector confirmation, and stability guarantee scope negotiation.<\/p>\n<\/div>\n SEZ Compliance \u2014 Operating Conditions<\/p>\n Incentives \u00b7 Uzbekistan \u00b7 SEZ<\/p>\n Advising an SEZ resident on compliance with SEZ operating conditions \u2014 qualifying activity monitoring, minimum investment fulfilment, reporting obligations, and risk of SEZ status revocation assessment.<\/p>\n<\/div>\n Navoi FEZ \u2014 Industrial Investment<\/p>\n Incentives \u00b7 Uzbekistan \u00b7 Industrial<\/p>\n Advising a foreign investor on Navoi Free Economic Zone eligibility \u2014 qualifying activity assessment, extended CIT exemption period analysis, customs duty relief, and application procedure.<\/p>\n<\/div>\n<\/div>\n Uzbekistan \u2014 Investment Framework<\/p>\n \u2726 \u00a0100% foreign ownership permitted in most sectors \u2014 Law No. ZRU-598<\/p>\n \u2726 \u00a0EFI status \u2014 additional protections for qualifying foreign investors<\/p>\n \u2726 \u00a028 SEZs, 389 Small Industrial Zones \u2014 tax and customs exemptions<\/p>\n \u2726 \u00a050+ BITs \u2014 investor-state arbitration and free transfer guarantees<\/p>\n<\/div>\n Uzbekistan \u2014 English Common Law Jurisdiction<\/p>\n Tashkent International Financial Centre (TIFC)<\/p>\n Established March 2026 \u2014 English common law investment framework, TFSA regulator, TICC commercial court, tax exemptions until 2076.<\/p>\n Tashkent International Financial Centre \u2014 full guide \u2192<\/a><\/p>\n<\/div>\n Why Bond Stone<\/p>\n \u2726 \u00a0Tashkent office \u2014 direct engagement with Uzbek investment authorities<\/p>\n \u2726 \u00a0Ranked Legal 500 EMEA and IFLR1000 \u2014 Tashkent and Almaty offices<\/p>\n<\/div>\n Primary authority: lex.uz<\/a><\/p>\n Contact Bond Stone for a confidential discussion about Investment Incentives & SEZs in Uzbekistan.<\/p>\n \ud83d\udce7 info@bondstonelaw.com<\/a> Request a Confidential Consultation<\/a>
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\nInvesting in Uzbekistan<\/h2>\n
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