Making amendments to constituent documents - Financial Chain Corporation

Important details in the procedure of registration of changes on the territory of Uzbekistan

The service of FCHAIN professionals regarding registration of changes in state registers is also relevant if the client plans to:

• Change the location of the company’s central office (legal address);
• Supplement or reduce the list of activities that the company is engaged in;
• Privatization (according to the requirements of the legislation of the country);
• Increase or decrease of statutory capital;
• Acquisition or merger with another legal entity (change of company management procedure);
• Enter any other data displayed in the charter or registration documents.

New legislative requirements in force on the territory of Uzbekistan may also be the reason for registering changes. It is the coordinated work of the professional from FCHAIN that will allow to complete the case and continue direct work, avoiding the risk of possible fines and sanctions in the future. The founding agreement can only be changed after the final decision of the management and only in two ways:

1. Formation of constituent documents in a new version.
2. Creation of a special (official) supplement to existing certificates and certificates.

Each of the methods has its own characteristics and obligations, which can be clearly understood only by an interpreted specialist. If the company is not sure about the qualification of its own legal department, the coordinated work of the FCHAIN team is the best solution to the situation. After all, everything needs to be done correctly, clearly and necessarily in time. As a rule, documents in the new version are recommended to be executed if changes are envisaged in the Company Charter itself.

Important recommendations from FCHAIN professionals

A full re-registration of the company is also necessary if the amount of the company’s statutory capital is reduced. If the planned changes do not relate to the name of the company, the number of founders, and directly to the capital under the Charter, they can be carried out as a properly executed addition (registered changes). Without final registration and receipt of all confirmations within a month, any changes are considered illegal and unenforceable. This threatens not only with sanctions and fines, but also a ban on continuing the financial and economic activities of the company itself.

From documents to make changes to constituent documents, you may need:

• certificate of incorporation of the company;
• reference and identification number assignment;
• Charter;
• foundation agreement;
• passport details of each of the guides;
• details of existing Bank accounts.

The list itself can be changed according to the current requirements of the legislation of Uzbekistan. The help of a specialist from FCHAIN  is also relevant for foreigners, since many problems are caused by unclear or erroneous translation from the local language into the native language for the founders themselves.