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Uzbekistan plans to move to 20th place in Doing Business by 2022

Uzbekistan plans to move to 20th place in the Doing Business ranking of the World Bank and the International Finance Corporation by 2022.

This is stipulated by the Presidential resolution “On additional measures to improve the ranking of the Republic of Uzbekistan in the annual report of the World Bank and the Doing Business International Finance Corporation.”

The document approved a “roadmap” to improve the ranking, developed with the participation of the World Bank and other international financial institutions.

The head of Uzbekistan approved amendments to legislation, which will come into force on 1 March 2019.

According to the new procedure, banks can remotely open bank accounts for legal entities whose founders are residents of the Republic of Uzbekistan and individual entrepreneurs in the process of their state registration if the necessary conditions exist for remote identification of applicants as required by the Financial Action Task Force on Money Laundering (FATF ).

Also, the procedure for determining the exclusive purpose of land plots is canceled when they are issued through an auction on the electronic trading platform E-IJRO AUKSION with the obligatory indication of an exhaustive list of the types of objects whose construction is prohibited or permitted on a specific land plot.

The construction authorities are given the functions of architectural and town planning councils for coordinating design estimates, preserving only advice for coordinating design estimates for objects erected in historical zones, including in protected zones of cultural heritage monuments, as well as state objects.

The cost of updating the topographic and special surveys (if necessary), carried out after the construction object, realized through “E-IJRO AUKSION”, is paid within the funds received from the sale of the land plot without interference with the activities or any burden of land and real estate owners.

The act of acceptance into operation of completed buildings and structures is issued simultaneously with an extract from the certificate of state registration of rights to the property.

The head of Uzbekistan introduced economic sanctions for unauthorized disconnection of consumers from the power supply.

An application for state registration of rights to immovable property and cadastral registration may be submitted on an extraterritorial basis.

When individuals and legal entities apply for notarization of transactions and certificates related to the acquisition of property rights to real estate, notary offices must send an application for state registration of rights to real estate objects and relevant documents to the state registration authority via information and communication systems at no cost.

The requirement of circulation and issuance of cadastral case on paper with the introduction of the mechanism of circulation and preparation of cadastral case and cadastral documentation for immovable property in electronic form is canceled.

Shareholders are granted the right to hold the interested member of the supervisory board liable for damages caused to the company as a result of a major transaction and a transaction with affiliates, the amount of which is 10 percent or more of the company’s net assets.

The conflict situation that has arisen due to failure to reach an agreement on any issue of a limited or additional liability company due to the lack of a sufficient number of votes to make a decision is resolved in a court of law, the resolution says.

The mechanism of payment of accrued dividends on shares through the Central Securities Depository or investment intermediaries is being introduced.

In the field of international trade, issuing a certificate of origin of goods, along with the Ministry of Investment and Foreign Trade, is also carried out by the Chamber of Commerce and Industry of the Republic of Uzbekistan on the basis of an application-declaration of a participant in foreign economic activity within a period not exceeding one working day from the date of application.

From 1 March, an order is introduced allowing for a pre-trial hearing at the economic court as a method for resolving disputes. A unified electronic system of accounting and payment by the population of all payments in criminal and civil courts, administrative and economic courts, including the state duty, is also being introduced.

From 1 March, the government agencies and other organizations cannot demand from business entities a stamp in documents or certify documents with a stamp.

The procedure for obtaining permission to carry out construction and installation works with the introduction of a notification mechanism about their commencement has been canceled.

(Source: UzDaily.com)