The Arbitration Court at Consilio Issued a Ruling on the Claim of the Largest Private Bank of Uzbekistan

The Arbitration Court at Consilio, composed of sole arbitrator Ulugbek Latifov, has concluded the consideration of the case brought by one of the country’s leading private banks. The court granted the claims: recovered the loan debt and enforced foreclosure on the pledged property.

Although the arbitration court is a private judicial body, its decisions carry full legal force: they are subject to compulsory enforcement by state bailiffs on an equal basis with decisions of state courts. This is stipulated by the Law of the Republic of Uzbekistan “On Arbitration Courts.”

Judges of the Arbitration Court at Consilio are guided by the principles of legality, impartiality, and objectivity when resolving disputes.

Efficiency and Legal Force of Decisions

The arbitration court’s decision is final — there are no appellate or cassation instances within the arbitration system. It can only be challenged in the case of procedural violations.

The average case consideration period in the arbitration court is up to 30 days, whereas similar disputes in state courts may take from 2 to 6 months, and up to a year when appeals are filed.

Enforcement of arbitration court decisions is carried out by the Bureau of Compulsory Enforcement in the same manner as for decisions of state courts. The writ of execution is issued through the state court.

Legal Support for the Cooperation between ACWA POWER and APEX LIFE INSURANCE

The Consilio team provided comprehensive legal support for the cooperation between ACWA POWER and APEX LIFE INSURANCE in launching a corporate well-being program for employees working in remote regions of Uzbekistan.

Purpose and Scope of the Well-being Program

The program, developed at the request of ACWA POWER in collaboration with APEX LIFE INSURANCE, covers 186 insured rotational workers. Specialists in medicine, dietetics, genetics, and psychology develop individual nutrition and exercise plans, as well as provide round-the-clock psychological support.

Role of Consilio

The legal team prepared cooperation agreements, contracts with medical and insurance specialists, coordinated the interaction of participants, and ensured legal protection of the parties, minimizing risks.

About the Companies

ACWA POWER is an international energy company implementing more than 77 projects (energy and water desalination) worth $82.8 billion globally, with a capacity of 54 GW and 7.6 million cubic meters of water per day. In Uzbekistan, the company runs 15 “green” projects with a total value of $15 billion, second only to Saudi Arabia in volume.

APEX LIFE INSURANCE is an Uzbek insurance company founded in May 2019 as a 100% subsidiary of APEX INSURANCE. It specializes in life and health insurance, voluntary medical insurance, annuities, travel insurance, and insurance against accidents and infectious diseases.

The law firm CONSILIO announces the successful completion of the project for the creation and launch of the microfinance organization LLC "PULLOL BUSINESS." The team provided full-cycle support: preparing foundational documents, forming and submitting the package to the Central Bank of the Republic of Uzbekistan, and liaising with the regulator at every stage.

As part of the project, the corporate structure, contractual base, credit and compliance policies, as well as other internal documentation necessary for lawful and secure financing of both individuals and legal entities were developed.

CONSILIO on the project: "The process of creating and licensing a microfinance organization in the Republic of Uzbekistan is a rather complex procedure that requires a thorough analysis of the regulatory framework and careful preparation of documents. The 'PULLOL BUSINESS' project is yet another confirmation of our expertise in corporate and financial law. We take on the entire legal framework for launching financial institutions and products: from the idea and corporate setup to licensing."

The law firm CONSILIO announces the successful completion of the project for the creation and launch of the microfinance organization LLC "FINANZA." The team provided full-cycle support: preparing foundational documents, assembling and submitting the application package to the Central Bank of the Republic of Uzbekistan, and liaising with the regulator at all stages.

As part of the project, the corporate structure, contractual framework, credit and compliance policies, as well as other internal documentation necessary for lawful and secure financing of both individuals and legal entities were developed. A key feature of the FINANZA project is its focus on providing microfinance services in electronic form.

CONSILIO on the project: "The process of creating and licensing a microfinance organization in the Republic of Uzbekistan is a rather complex procedure that requires thorough analysis of the regulatory framework and detailed preparation of documents. The FINANZA project is yet another confirmation of our expertise in corporate and financial law. We take on the entire legal framework for launching financial institutions and products: from the initial idea and corporate setup to licensing."

Marks Group approached Consilio for legal support in entering the Uzbekistani market.

MARKS GROUP is a full-cycle general design company, delivering projects from concept development through to commissioning. The company has 19 years of uninterrupted experience in designing unique facilities, residential and public buildings, industrial enterprises, and transport infrastructure projects. With a team of more than 1,300 employees, MARKS GROUP has delivered over 200 projects across Russia. Its expertise includes the application of modern digital technologies and advanced know-how in architecture, urban planning, engineering, and geotechnics.

As part of the project, the Consilio team provided turnkey business setup, including the preparation and coordination of constituent documents, state registration of the legal entity, and advisory support on adapting the business model to the requirements of national legislation.

“Marks Group is a company with high standards for project delivery. This case confirms Consilio’s expertise in supporting foreign companies that seek not merely to be present, but to localize and grow in the Uzbekistani market,” representatives of Consilio noted.

The Consilio team provided advisory services in the areas of taxation and lease relations as part of the implementation of the RASCO CA project involving international financial institutions and foreign financial organizations in the Republic of Uzbekistan.

RASCO CA (Uzbekistan) is part of Rasco Group, a steadily growing company operating in the engineering services market. The company’s workforce includes engineers from various technical disciplines with the required professional experience. To ensure high-quality service delivery, both local and international specialists are engaged.

Rasco Group was founded in 2012 in Hong Kong and has demonstrated successful development over the past eight years. The Group has a geographical presence in countries such as Georgia, Azerbaijan, Ukraine, and Uzbekistan.

On December 25, 2025, the President of the Republic of Uzbekistan signed Law No. ZRU-1108 “On Amendments and Additions to Certain Legislative Acts of the Republic of Uzbekistan in Connection with the Adoption of the Main Directions of Tax and Budget Policy for 2026.” The Law entered into force on January 1, 2026, and implements the instructions of the Head of State following the open dialogue with entrepreneurs.

The document is aimed at simplifying tax administration, supporting small businesses, strengthening VAT control, and adjusting tax incentives. The main tax rates remain unchanged: VAT — 12%, corporate income tax — 15%, social tax — 12%.

Key Innovations for Businesses

1. New Regime for Individual Entrepreneurs and Self-Employed Persons

The fixed personal income tax for individual entrepreneurs has been abolished, as well as the exemption of self-employed persons from turnover tax for income of up to UZS 100 million.

A unified 1% turnover tax rate has been introduced for annual income of up to UZS 1 billion (for individual entrepreneurs and self-employed persons).

Up to UZS 1 billion — voluntary choice: 1% turnover tax or the general tax regime (VAT + corporate income tax).

Exceeding UZS 1 billion → mandatory transition to the general regime from the date the threshold is exceeded.

Temporary corporate income tax incentives are provided for those transitioning to the general regime for the first time (including a one-year exemption in certain cases).

2. VAT: New Rules and Abolition of Incentives

Zero VAT rate for the sale of self-produced agricultural products (except cotton and grain).

Zero VAT rate for exports via electronic trading platforms (marketplaces) — automatic confirmation through data exchange.

VAT exemption for jewelry and semi-finished products made of precious metals and stones has been abolished.

The procedure for VAT taxation of operations related to the distribution of fines and penalties has been clarified.

3. Property Tax

Minimum tax base values for buildings and structures have been increased (in Tashkent — from UZS 3.3 million to UZS 3.53 million per 1 m², and similarly in other regions).

The reduced rate has been increased from 0.65% to 0.7% in certain cases.

4. Additional Simplifications

Termination of administrative offense cases for late reporting of up to 5 working days (provided reports for the previous 3 months were submitted on time).

Possibility to pay financial sanctions in installments following on-site tax inspections.

The threshold for advance corporate income tax payments has been increased.

Simplified voluntary liquidation based on the opinion of tax consultants or auditors.

Reduced rates for e-commerce entities have been abolished — base rates now apply (corporate income tax 15%, turnover tax 4%).

These changes create a more transparent and predictable tax environment, stimulate the growth of small and medium-sized businesses, and support a gradual transition to the general tax regime.

The full text of Law No. ZRU-1108 is published on the official portal: https://lex.uz/docs/7951016