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LAW OF THE REPUBLIC OF UZBEKISTAN

of April 30, 1998 No. 609-I

About foreign investments

(The last edition from 18-04-2017)
Article 1. Purpose and tasks of the Law

This Law determines the legal basis and procedure of foreign investments in the territory of the Republic of Uzbekistan.

The main objectives of this Law are:

assistance to development of economy of the Republic of Uzbekistan and its integration into world economic system by stimulation of inflow of foreign investments;

attraction and rational use of foreign financial, material, intellectual and other resources, modern foreign technologies and managerial experience.

Article 2. Legislation on foreign investments

The legislation on foreign investments consists of this Law, the Law of the Republic of Uzbekistan "About guarantees and measures of protection of the rights of foreign investors", other acts of the legislation.

If the international treaty of the Republic of Uzbekistan establishes other rules, than those which are stipulated by the legislation about foreign investments then are applied rules of the international treaty.

Article 3. Foreign investments

Foreign investments all types of the material and non-material benefits and the rights to them, including the intellectual property rights, and also the reinvestments put by foreign investors in objects entrepreneurial and other types of activity which are not prohibited by the legislation are recognized.

Reinvestments any income from foreign investments gained in the Republic of Uzbekistan and put by foreign investors in the territory of the Republic of Uzbekistan in objects entrepreneurial and other types of activity which are not prohibited by the legislation including profit, percent, dividends, royalty, license and commission fees, payments for technical assistance, maintenance and other forms of remunerations is recognized.

Article 4. Foreign investors

Can be foreign investors in the Republic of Uzbekistan:

foreign states, administrative or territorial authorities of foreign states;

the international organizations founded according to agreements or other agreements between the states or which are subjects of the international public law;

the legal entities, any other partnerships, the organizations or associations founded and operating according to acts of the legislation of foreign states;

the citizens of foreign state and persons without citizenship who are constantly living outside the Republic of Uzbekistan;

Article 5. Forms of implementation of foreign investments

Foreign investors can perform investments in the territory of the Republic of Uzbekistan in the way:

equity in authorized capitals and other property of the economic societies and partnerships, banks, insurance companies and other companies created together with legal and (or) physical persons of the Republic of Uzbekistan;

creations and developments of the economic societies and partnerships, banks, insurance companies and other companies which are completely belonging to foreign investors;

property acquisitions, shares and other securities;

attachments of the intellectual property rights, including copyright, patents, trademarks, useful models, industrial designs, trade names and know-how, and also goodwill (goodwill);

acquisitions of concessions, including concessions on investigation, development, production or use of natural resources;

acquisitions of property right to objects of trade and services industry, to premises together with the parcels of land on which they are placed together with the parcels of land, and also rights of possession and uses of the earth (including on the basis of lease) and natural resources.

acquisitions of right to search, investigation of fields and mining on subsoil plots according to production sharing agreements;

Foreign investors can perform investments in the territory of the Republic of Uzbekistan and in other forms which are not contradicting the current legislation.

Change of forms in which foreign investments are originally or repeatedly performed does not lead to change of their qualification as investments.

Article 6. The companies with foreign investments

Foreign investors can create in the territory of the Republic of Uzbekistan the companies with foreign investments and have all rights, guarantees and privileges provided to them by the legislation of the Republic of Uzbekistan.

The companies with foreign investments in the territory of the Republic of Uzbekistan are understood as the companies in which foreign investments constitute at least thirty percent of shares (share, shares) or authorized fund. They act in any forms of business which are not contradicting the legislation of the Republic of Uzbekistan. One of members of the company with foreign investments surely is the foreign investor specified in paragraphs the second, third or fourth article 4 of this Law.

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