The Senate of the Oliy Majlis has approved the Constitutional Law ‘On the International Digital Technology Centre’, paving the way for ENTERPRISE UZBEKISTAN – a new international legal environment for start-ups, IT companies, investors and venture capital funds.
The centre will combine modern international legal instruments, special terms for doing business and the resources of the IT Park Uzbekistan ecosystem to support the growth of technology companies.
The emerging model
The centre will operate under a special business regime based on the principles of English law. Its key elements are:
- corporate and contractual mechanisms;
- a regulatory sandbox;
- special tax and customs arrangements;
- protection of investments, intellectual property and data.
What it means for business
The centre widens the range of options for structuring technology and investment businesses:
- holding structures;
- special purpose companies for individual projects;
- joint ventures;
- venture capital and investment structures;
- models for attracting foreign investors;
- structures for owning and commercialising intellectual property.
ENTERPRISE UZBEKISTAN and IT Park
The centre will be integrated with the IT Park Uzbekistan ecosystem, giving access to technology companies and start-ups, investment and acceleration programmes, international partnerships, infrastructure and market-entry tools.
What to decide at the outset
Before choosing a structure, you need to assess:
- the ownership and governance structure;
- the investment instrument;
- protection of investors’ and founders’ rights;
- the intellectual property structure;
- tax and cross-border issues;
- compliance and data protection requirements;
- follow-on funding and exit.
The structure should reflect the company’s future business model, not just its registration.
Our practice
We advise on technology and investment projects, from choosing the structure to implementing the investment model:
- holding structures, special purpose companies and joint ventures;
- venture capital and corporate transactions;
- SAFEs and convertible instruments;
- investment funds;
- corporate governance;
- intellectual property structuring;
- compliance and data protection.
For more on the new jurisdiction, see the ABACUS Telegram channel.
