Limited Liability Companies
Pursuant to Uzbekistan Law “On companies with limited and additional liability” a Limited Liability Company (in Uzbek: “mas’uliyati cheklangan jamiyat”) may have one of the following organizational structures:
- An Executive Board (in Uzbek: “ijro organi”) and a Supervisory Board (in Uzbek: “kuzatuv kengashi“); or
- An Executive Board only.
Joint Stock Companies
Pursuant to Uzbekistan Law “On joint stock companies and shareholders’ rights protection” (New edition) a Joint Stock Company (in Uzbek: “aksiyadorlik jamiyat”) must have the following organizational structure:
- An Executive Board and a Supervisory Board.
Without prejudice to the above, the Uzbekistan laws consider the General Meeting of Shareholders to be the supreme governing body in the organizational structure of both Limited Liability Companies and Joint Stock Companies.
Please see, respectively, “Supervisory Board” and “Executive Board” in the left side menu for a more in-depth description of each structure, including how to change the respective board members.
Centil Law has provided all input about changing board members in Uzbekistan. Centil is a leading full-service law firm with an integrated practice across Central Asia and the Caucasus. Centil's 50 lawyers and economists advise both international and domestic clients on complex transactions and pioneering projects with particular expertise in banking and finance, energy, M&A, tax and infrastructure.
For more information about Centil Law and changing board members in Uzbekistan, please use the below contacts:TEL: + 7 727 333 6105