Uzbekistan, UAE establish investment company
Baku, Azerbaijan, May 21
By Fakhri Vakilov – Trend:
A decree of President of Uzbekistan Shavkat Mirziyoyev on the organization of activities of Uzbek-Emirates investment company was adopted, Trend reports via Uzbek media.
The company will operate in the form of a limited liability company with an authorized capital of $10 million. The parties intend to gradually bring this capital to a $1 billion.
"The shares of the Abu Dhabi Development Fund and the Fund for Reconstruction and Development of Uzbekistan in the formation of the company are 75 percent and 25 percent respectively," reads the message.
It should be noted that the founders of the company were exempted from paying income tax, property tax and land tax, as well as value added tax on the sale of property and assets for ten years.
Foreigners, who are employed in this company, as well as their family members, will receive multiple-entry visas without paying a state fee.
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