Business in Uzbekistan for Russian Citizens: 2026 Guide

Ivan Karataev

Managing Partner, BizReg

MBA, ACCA, CPA · ex-KPMG, ex-CFO of NYSE-listed companies · 20+ years in US & Uzbek business

Last updated 2026-06-15 · 13 min read

✓ Facts verified against primary sources (lex.uz, soliq.uz)

Last updated 2026-06-15 · 13 min read · ✓ Facts verified against primary sources (lex.uz, soliq.uz)

A Russian citizen can start a business in Uzbekistan visa-free, on a regular passport: it is enough to arrive, register an LLC or a foreign enterprise with 100% foreign ownership and open an account at an Uzbek bank. For a Russian citizen, Uzbekistan in 2026 is not just "another foreign country" — it is the closest and most intuitive way to obtain a legal company with international payments: a shared language, visa-free entry, a working double-tax treaty, and a banking system that still handles inbound and outbound currency payments. This article is written specifically from the Russian angle: what the visa-free regime gives you, how the RF–RUz double-tax treaty works, what you need to know about currency rules and settlements, and which relocation scenarios come up most often. No promises of "sanctions circumvention" — only what is legal and real.

Why is it worth a Russian citizen starting a business in Uzbekistan?

When it becomes hard to pay foreign suppliers from Russia and to receive revenue from abroad, an entrepreneur looks for a jurisdiction where settlements can be made legally and with a low barrier to entry. Uzbekistan beats most alternatives on four "Russia-centric" reasons at once.

It is worth fixing the framing right away: Uzbekistan is not a "scheme" or a way to hide anything. It is a fully fledged jurisdiction with its own tax code, banking compliance and currency control. The Uzbek company operates under its own laws, and you as its owner — under the rules of Uzbekistan and (for your Russian assets) Russia.

What matters specifically to a Russian citizen: a quick map

Before going deeper, let us put into one table what makes the Russian case different from any other foreigner. This is the "map of the terrain" — each item is explained in detail below.

Does a Russian citizen need a visa to start a business in Uzbekistan?

For a Russian this is the most comfortable point. Russia and Uzbekistan have a mutual travel agreement (of 30 November 2000, lex.uz): citizens may enter and stay in the other country without visas. In practice this means you do not need a visa or invitation in advance to start a business — a valid passport is enough.

The key nuance is stay registration. According to the consular information of the Embassy of Russia, Russian citizens are exempt from registration for the first 15 days from entry; for a longer stay, registration at the place of stay is mandatory (mid.ru). Registration is usually handled by the hotel or the host party; if you come for a few weeks to open a company and an account, plan in advance who will register you and how.

Business form: why "IP" usually will not fit

This is the main divergence from Russian habit. The mass Russian scenario "I'll register as a sole proprietor on the simplified regime" works differently in Uzbekistan: a sole proprietor in Uzbekistan for foreigners is available only with residency in the country (registration by place of residence or a residence permit) and with limits, so a non-resident usually opens an LLC or a foreign enterprise instead. A Russian citizen has two legal-entity options.

A detailed step-by-step of registration — name, charter, legal address, state registration, account and tax registration — is in a separate article: how to open an LLC in Uzbekistan step by step. Here we focus on what is specific to a Russian citizen.

RF–RUz double-tax treaty: how not to pay tax twice

The agreement on the avoidance of double taxation of income and property between Russia and Uzbekistan was signed on 2 March 1994 and entered into force on 27 July 1995 (ratified in Uzbekistan by a 1994 resolution, lex.uz). For a Russian with assets and income in two countries, this is one of the most important documents.

What the treaty does in practice:

• Allocation of taxing rights. It defines in which country business profit, dividends, interest, royalties and income from property are taxed — so the same income is not taxed in full in both countries.
• Credit for tax paid. Tax paid in one country is generally credited in the other — this is the mechanism of "avoidance of double taxation."
• Reduced withholding rates. For dividends and interest the treaty may provide reduced withholding rates compared with domestic ones.

A separate important question is where you are a tax resident. If you spend more than a certain threshold of days in Russia per year, you remain a Russian tax resident with all the implications for personal income. Relocating the company and relocating yourself as an individual are different decisions and should be planned separately.

Currency rules and moving money — honestly

The most sensitive topic for a Russian. Let us state it plainly: an Uzbek company does not offer "sanctions circumvention." It operates legally, under Uzbek currency law, and any bank compliance officer verifies this.

What actually works within the law:

1. The Uzbek company as a contracting party

   Contracts with foreign suppliers and clients are signed in the name of the Uzbek company. Payments go through an Uzbek bank account — where a payment from Russia hits blocks.

2. Settlements between your legal entities

   If you keep a Russian LLC, movement of funds between it and the Uzbek company is documented as ordinary cross-border transactions under a contract (supply, services, loan) — in compliance with the currency laws of both countries.

3. Currency account and control

   The Uzbek company settles in national and foreign currency under the RUz Law on Currency Regulation (lex.uz) and Central Bank regulations (cbu.uz).

4. Repatriation of revenue

   The law requires residents to repatriate foreign-currency revenue under foreign-trade contracts. The procedure and deadlines follow currency-control rules; you cannot act "on hearsay" here.

How to receive payments from abroad into an Uzbek company is a separate large topic, with payment corridors and bank requirements: how to accept payments from abroad.

Common relocation scenarios from Russia

Behind our Russian cases we see four recurring scenarios. Each has its own structuring logic.

A common thread: you do not relocate the Russian legal entity wholesale. The Russian LLC stays Russian and is taxed under Russian law; in Uzbekistan you create a new company and move there the functions that hit international-payment walls. More on the relocation logic in the guide relocating a business to Uzbekistan from Russia.

Can a Russian open a business in Uzbekistan remotely or is a trip required?

For a Russian it is especially important to understand the "physics" of the process: what can be done remotely and what requires a trip.

The bottleneck is the bank account: most banks require an in-person visit by the founder or director. Thanks to the visa-free regime, planning one short trip just for opening the account is easier for a Russian than for citizens of many other countries.

Common mistakes by Russians

Related articles

• Business in Uzbekistan for Kazakhstan Citizens: 2026 Guide
• Business in Uzbekistan for Belarus Citizens: 2026 Guide
• Starting a Business in Uzbekistan for Tajik Citizens
• Relocating Your Business from Russia to Uzbekistan 2026

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