President Shavkat Mirziyoyev signed a decree on measures to set up the activities of the Uzbekistan-UAE Investment Fund. It was created on March 24, 2019 in the form of a limited liability company with an authorized capital of US$ 10 million and its phased increase to US$ 1 billion.
The stake of the Abu Dhabi Development Fund (UAE) in the company is 75% and the Uzbekistan Fund for Reconstruction and Development - 25%.
In accordance with the decree, the company, as well as its founders, are exempt from paying income tax, property tax and land tax, as well as value added tax when selling the property and assets for a period of 10 years.
Multiple-entry visas are issued to foreign specialists hired by the company, as well as to their family members, with exemption from the state duty.
