Uzbekistan to introduce a series of tax breaks and preferences in the IT sector from April 1

IT-Visa

The government implements IT-Visa for professionals and investors in the IT sector, as well as foreign founders of IT Park’s residents.

Visa is valid for 3 years, which allows crossing the borders of Uzbekistan with no hassle during this period. Visa holders can also obtain a residence permit in a simplified manner and equal social rights (medicine and education) with citizens of Uzbekistan.

IT Park’s recommendation is mandatory for granting an IT-Visa.

More detailed information: https://itvisa.uz/

Dividends

From now on, the tax rate on dividends of foreign founders of IT Park residents is set at 5%, previously this rate stood at 10%.

Payouts in foreign currency

IT Park residents are permitted to pay dividends and wages to their foreign founders/specialists in foreign currency to debit cards as part of earnings from works/services export.

Simplified condition of employment for foreign professionals

Residents of IT Park are no longer required to obtain confirmation of the right to employ foreign specialists. Obtaining the personal identification number of an individual (PINFL) is sufficient.

Virtual Office

The obligatory presence of an office space for IT Park residents is cancelled. Now IT Park residents can conclude an agreement with the IT Park Directors Board. The minimum cost of the service is 300 thousand soums per month. The services include rent of a legal (postal address), call center, correspondence processing, etc.

The presence of a contract for a virtual office cannot be the basis for classifying a company as a high tax risk category based on the absence of an office.

IT Park’s assistance through Relocation Program:

- Registration of legal entity (company);
- Opening bank account
- Registration with the tax authorities;
- Search for professionals;
- Office Search and Rental.

IT professionals are also provided assistance in:
- Employment in IT Park resident companies;
- Medical insurance registration;
- Search for accommodation;
- Opening a bank account;
- Paperwork;
- Assigning children to schools and kindergartens.

Furthermore, specially elaborated guide that comprises all the necessary information will help IT professionals and their families easily adapt to Tashkent.