Uzbekistan Strengthens Legal Framework for Limited Liability Companies

Tashkent, Uzbekistan (UzDaily.com) — On 4 September 2025, the Senate of the Oliy Majlis held a plenary session during which the Law “On Limited Liability Companies” was reviewed and approved.

During the discussion, it was noted that in recent years Uzbekistan has been consistently implementing reforms aimed at comprehensive support for entrepreneurship and the development of corporate relations.

The adopted law is designed to systematize and unify the regulations governing the activities of limited liability companies and to align them with best practices from international experience.

The law establishes procedures for creating branches, representative offices, subsidiaries, and affiliated companies; mechanisms for resolving disputes among company members; mandatory provision of meeting minutes to participants; procedures for electing members of the supervisory board and defining the responsibilities of executive bodies; the possibility of conducting certain types of business activities not only under a license but also under other permitting or notification procedures; the right of participants to enter into corporate agreements to exercise their rights; the conduct of absentee voting; and the establishment of a committee for minority shareholders.

Special attention is given to the introduction of a modern corporate governance system, the elimination of legal gaps, and the reliable protection of the rights and legitimate interests of participants.

Senators emphasized that the new law will enhance guarantees for the protection of participants’ property, prevent cases of share appropriation through deception or fraud, and contribute to the creation of transparent and sustainable corporate mechanisms.

The document was approved by a majority vote and represents a further step toward strengthening the legal framework governing entrepreneurial activity in Uzbekistan.