Government plans to reduce minimum charter capital requirement for joint stock companies

The draft concept was developed by the Ministry of Finance of Uzbekistan with participation of experts from the Korean Stock Exchange, UNDP, the International Finance Corporation, the Institute for Forecasting and Macroeconomic Research under the Cabinet of Ministers and other structures.

The document proposes to reduce the requirements for minimum size of the authorized capital of joint-stock companies from US$400,000 to 500 times of the minimum sizes of salary (now – 149,775 soums).

The document also proposes to abolish the requirements for joint stock companies on mandatory sale of at least 15% shares in their charter capitals to foreign investors.