Uzbekistan becomes an appealing location for foreign IT companies

Over the past 5 years, Uzbekistan has taken far-reaching and comprehensive measures to boost and support IT entrepreneurship and upskilling IT staff.

The fundamental decree No.5099 of Uzbekistan’s President adopted in 2017 grants IT companies the following privileges and preferences until 2028:

- Full exemption from all types of taxes;

- The tax on dividends of foreign companies is reduced to 5%;

- Income tax rate is reduced to 7.5%;

- Imports of machinery are exempted from customs duties;

- Exemption from obtaining a permit to attract foreign specialists;

- Operating remotely, with no office rental

- Paying dividends to founders and wages in foreign currency;

- Export through electronic trading platforms without export contract.

The government has introduced «IT Visa» for investors, founders of IT companies, foreign IT specialists and their family members in order to support local IT companies.

Established in 2019, IT Park has been able to unite over 550 IT companies. The turnover of these companies made up 2.5 trillion soums in 2021, and the export of services increased by 76 times reaching 46 million US dollars. Simultaneously, employees of technopark’s residents have attained 10 thousand people.

Launching «One Million Uzbek Coders» program in 2019 along with establishing IT-Park’s IT centers throughout the regions, made it possible for over 50 thousand young professionals to successfully graduate.

As a result of tax breaks and training programs, several largest foreign companies have opened their offices in Uzbekistan, where over 5 thousand IT specialists are currently working. By the end of 2023, the numbers are expected to reach 10 thousand.

IT Park has also launched the TashRush program to expose investment attractiveness of Uzbekistan more. As part of the program, foreign companies and IT specialists are provided with services to open juridical persons (based on the OneStopShop principle), search for offices, recruit personnel, and IT specialists are given assistance in adaptation and employment in IT Park resident companies.

Since the beginning of the year, over 3,000 overseas IT specialists have already benefited from this program, who now exclusively provide services to foreign companies, their skills and experience will boost the qualification of young professionals in Uzbekistan as well.

Welcoming the branches of overseas companies here in Uzbekistan, together with the inflow of foreign specialists, will allow providing employment opportunities for more than 5,000 young professionals in the information technology sector and increase the export of IT services to $100,000,000.

Follow the link to find detailed information about services IT Park offers to foreign companies and IT specialists, and the «TashRush» guidebook:   https://itvisa.uz/