Alert: Change affecting company formation and choice of entity in Uzbekistan — mining and metals sector Effective: April 2027
Uzbekistan's regulatory framework governing company formation and choice of entity for foreign investors in the mining and metals sector has been revised. Under the updated rules, certain entity structures previously available to foreign capital — including specific forms of branch registration and simplified joint-venture arrangements with state-affiliated subsoil users — are now subject to additional authorisation requirements, minimum capitalisation thresholds, or are no longer available as a primary vehicle for subsoil-use licence holding.
Foreign companies that have established, or are in the process of establishing, a presence in Uzbekistan's mining and metals sector through a branch, representative office, or joint-venture entity should assess whether their current structure remains compliant and operationally appropriate. Companies at the market-entry planning stage should treat the choice of entity question as a first-order decision, since the licensing requirements for subsoil use are now explicitly tied to entity type and registered share capital levels. Investors from Russia and other CIS jurisdictions may face additional procedural requirements depending on the bilateral framework governing their specific transaction.
Recommended action:
- Audit your current or planned entity structure against the revised requirements for subsoil-use licence eligibility.
- Confirm whether your sector activity falls within the categories now requiring additional ministerial authorisation at the registration stage.
- Engage Uzbekistan-qualified counsel before submitting any registration application or initiating a restructuring of an existing vehicle.
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This alert is for informational purposes only and does not constitute legal advice. Vetrov & Partners is a Russian-qualified law firm. For Uzbekistan-law matters, we collaborate with Uzbekistan-qualified counsel in the relevant jurisdiction. Contact info@vetrovpartners.com for advice on your specific situation.
— Nodira Yusupova Contributing Regional Analyst — Uzbekistan, Vetrov & Partners vetrovpartners.com/contributions/