Uzbek President Islam Karimov signed a resolution on 12 May 2011, which is directed at creating additional favourable conditions for wide development of entrepreneurship activity, further improving order and decreasing expenses for state registration of business entities.

Uzbek leader approved proposals of the Ministry of Economy, Ministry of Justice and Ministry of Finance of Uzbekistan on expanding list of activities of small businesses, number of average employees at which will be increased from 50 to 100 people.

In line with the resolution, from 1 June 2011 the minimum size of the authorized capital for creation of limited liability companies and additional liability companies will be set at the size of 40 sizes of minimum salary, which was set on the day of registration.

The document said that the state registration of businesses entities can be carried out based on standard constitutive documents based on application of businesses.

The rate of the state duty for state registration of the businesses set at the size of one minimum salary, the document said.

The Uzbek President abolished requirement on approval of constitutive documents by notary officers. However, this requirement will remain for enterprises with foreign investments and other companies with foreign capital.

President Islam Karimov ordered Justice Ministry and other interested bodies to develop and approve standard constitutive documents, which are required for the registration of businesses.

Uzbek leader also ordered the State Statistics Committee to launch reserving firm names in single database through Internet based on application of founders and registering bodies from 1 June 2011.