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Previously, when registering Limited Liability Companies, joint stock companies and family businesses their authorized capital could not be lower than the minimum established.

Now due to the amendments in the Legislative Acts this requirement has been eliminated.

The founders are free to determine the amount of the statutory fund, i.e. there are no lower limits.

However, there are some exceptions and they relate to:

1. The minimum statutory fund must be formed in order to obtain a license:

• - banking activity - not less than 100 billion soums;
• - The activity of microcredit organizations - not less than 2 billion soums;
  - pawnshop activity - not less than 500 million soums;
• - insurance activity - by types
• - production of ethyl alcohol and alcoholic drinks - not less than 10 000 MCI
• - Lottery activity - not less than 200 million soums;
• - Outbound and inbound tourism activity - not less than 400 minimum monthly notional units; 2.

Requirements for enterprises with foreign investment. They also have the minimum charter fund of 400 million soums and 200 million soums in Karakalpakstan and Khorezm region.

These amendments to the Law came into force from 21.03.2019.

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