The IT sector has become one of the main catalysts for economic growth in Uzbekistan. In five years, the country has managed to increase the export of IT services 82 times. The total volume of services exported by residents of IT Park Uzbekistan increased to $145.3 million, surpassing the country’s total exports in 2022 by $4.4 million.
Uzbekistan has a rich pool of qualified specialists. Almost two thirds of the population are young people under 30 years of age with a high level of literacy and knowledge of foreign languages. Specifically, there are more than 110,000 young IT talents in the country.
IT Park Uzbekistan provides residents with access to unique personal and other business opportunities. Thus, companies are exempt from all types of corporate taxes. They are also granted visas for three years, which allows them to obtain a simplified residence permit. IT visa holders can use any social service on equal terms with citizens.
An IT visa can be obtained by:
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IT investors;
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company founders resident in IT Park Uzbekistan;
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IT specialists with annual income of more than $30,000.
In 2023, the center launched a new Zero Risk program to support foreign companies. It allows you to make it as easy as possible to locate companies in Uzbekistan. Among the possibilities:
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free office for up to 12 months;
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assistance with technical office equipment;
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reimbursement of up to 15% of the cost of salaries to employees (citizens of Uzbekistan);
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reimbursement of up to 50% of the costs of mentors attracted to the country.
In this way, companies can reduce the risks and costs associated with business development and focus on innovation and export activities. Residents also have access to the One-Stop-Shop program, which allows them to easily and quickly open a legal entity in Uzbekistan and a bank account.
In addition, there is the “Virtual Office” service: companies can work remotely, saving on rent and maintenance of the office and minimizing tax risks.
1,424 companies have already become residents of the IT Park, of which 213 are foreign-owned. Among them are large international companies such as EPAM Systems, Exadel, East Games, Itransition, Vention, Dyninno, Abcbridge, Qulix, which successfully export services to the US, UK, United Arab Emirates and other countries in Europe and Asia. .
More information about IT Park Uzbekistan support programs can be found on the website.
Author:
Irina Pecherskaya
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
