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New LLC Law Strengthens Corporate Governance and Investor Protection
Uzbekistan has adopted a new Law on Limited Liability Companies, introducing a more comprehensive framework for corporate governance and management of LLCs.
Effective from 22 July 2026, the new Law introduces significant changes concerning supervisory boards, executive management, minority and majority shareholders, related-party transactions and major transactions. It also expressly establishes fiduciary duties for directors and members of supervisory boards, strengthening standards of management accountability.
For foreign investors operating through an Uzbek LLC, as well as businesses considering joint ventures in Uzbekistan, the new framework provides greater clarity around corporate decision-making, management responsibilities and the protection of participants’ rights.
The changes are particularly relevant for companies reviewing their existing governance structures, internal corporate procedures and shareholder arrangements in light of the new requirements.
Effective from 22 July 2026, the new Law introduces significant changes concerning supervisory boards, executive management, minority and majority shareholders, related-party transactions and major transactions. It also expressly establishes fiduciary duties for directors and members of supervisory boards, strengthening standards of management accountability.
For foreign investors operating through an Uzbek LLC, as well as businesses considering joint ventures in Uzbekistan, the new framework provides greater clarity around corporate decision-making, management responsibilities and the protection of participants’ rights.
The changes are particularly relevant for companies reviewing their existing governance structures, internal corporate procedures and shareholder arrangements in light of the new requirements.
Legal basis: Law of the Republic of Uzbekistan No. ZRU-1137 dated 21 April 2026.
New LLC Law Strengthens Corporate Governance and Investor Protection
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