The IT Park in Tashkent, Uzbekistan, offers significant benefits for IT companies and training centers. These include tax exemptions and other advantages designed to foster the growth of the IT sector. This guide outlines the legal procedures and requirements for becoming a resident of the IT Park, along with the benefits and obligations associated with this status.
Benefits of IT Park Residency
1. Tax Incentives until 1 January 2028:

• Personal Income Tax: 7.5%
• Corporate Tax: 0%
• Property Tax: 0%
• Social Tax: 0%
• Customs Duties: Exempt for imported goods required for own needs

At the same time, IT-Park monthly charges 1% of the resident’s income.
2. Operational Benefits

• Activity Scope: IT Park residents can engage in a broad range of activities, including multimedia and design services, software development, venture financing in IT, and e-sports services.

Permissible Activities
IT Park residents are permitted to engage in various activities, such as:

• Software Development: For any platform including computer games.
• Implementation and Support: Of software, including training services.
• Data Processing: Using proprietary software.
• Automated Management Systems: Development and implementation.
• IT Consulting: For business process innovation
• Venture Financing: For IT projects
• E-sports Services: Requires international certification
• Other IT-related services: Including multimedia and design, export of IT services, and educational programs in IT.

IT park residents can only engage in abovementioned permissible activities  and must have a sound business plan for the approved activities.

Requirements for IT Park Residency
1. Legal Entity Registration:

• Must be registered as a legal entity in Uzbekistan

Only entities registered in Uzbekistan can become IT-Park residents, so foreign companies must first register locally to qualify. To be registered as a legal entity in Uzbekistan, usually foreign companies choose the limited liability company (“LLC”) organizational form in Uzbekistan.  Before registering an LLC, the foreign company needs to choose the corporate name of the LLC t
Registering an LLC in Uzbekistan is a fairly quick process and takes on average 1-2 days, provided that all necessary documents are provided. The state fee for registering an LLC is approximately USD 30 (USD 300 – when a non-resident applies for the registration). When registering, the application is accompanied by the Charter of the LLC and the founder’s decision/protocol of the founders on the establishment of the LLC (if registered by one founder). Please note that the Charter is registered in the Uzbek language.
Registration is carried out online (applicants can also submit registration documents manually). For online submission, the founders (or a representative) must log into the online platform using a special electronic digital signature (“EDS”). To remotely receive an electronic signature, the applicant must have a personal identification number in Uzbekistan (“PINFL”) and provide the attorney with a notarized power of attorney. State fee for obtaining an electronic signature is approximately USD 3.
After registration, LLC must obtain a corporate seal and open bank accounts.

Rights of IT Park Residents

• Geographic Flexibility: Conduct operations throughout Uzbekistan.
• Independent Activity Direction: Determine primary activity directions independently in line with the approved list.
• Brand Utilization: Use the IT Park’s trademark for marketing and official documents, including business cards and advertising materials
• Business Plan Amendments: Propose economically justified amendments to the business plan via the IT Park’s web portal
• Dividend and Salary Payments: Pay dividends and salaries to foreign investors and specialists in foreign currency through international payment cards
• Foreign Specialist Employment: Employ foreign specialists without obtaining additional permits.
• Virtual Office Services: Operate using virtual office services as per the agreement with the IT Park Directorate.
• Reduced Fees for High Export Volume: Reduce monthly contributions to the IT Park Directorate for up to 50% if export volumes exceed USD 20 million annually.
• Online Export: Export goods and services through online stores without requiring export contracts.
• Flexible Payment Terms: Utilize convenient payment and settlement terms for exported services.
• Additional Legal Rights: Exercise other rights as stipulated by Uzbek law.
• Voluntary Withdrawal: Withdraw from the resident status voluntarily.

Process for Obtaining IT Park Residency
1. Application Submission

• Submit an application for residency, including business plans and necessary certifications.

2. Review and Approval

• The IT Park Directorate reviews the application and business plan within 15 working days.

3. Issuance of Certificate:

• Upon approval, a certificate of residency is issued.

Termination of IT Park Residency
1 Non-compliance:

• Residency may be revoked by the IT-Park Directorate for failure to comply with the approved activities or other contractual obligations.

2. Voluntary Withdrawal:

• Residents can voluntarily relinquish their status by submitting a formal request to the IT Park Directorate.

Becoming a resident of the IT Park offers numerous advantages for IT companies, from significant tax breaks to operational flexibility. By adhering to the outlined requirements and leveraging the available benefits, businesses can thrive in this special economic zone. For more detailed guidance or assistance with the application process, please contact our IT-legal team.

DISCLAIMER:
The content of this article is provided for informational purposes only and should not be construed as legal advice. It is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this information without seeking professional counsel and should not rely on it as a substitute for obtaining legal advice from a qualified attorney licensed in their jurisdiction.
 
Gulnoza Abdurakhmono