New IT Park residents in January 2024

The number of IT Park residents continues to grow steadily. Since the inception of the technology park in 2019, the total number of companies has reached 1652 by the end of 2023.

 

In the previous year, 846 companies were granted the status of IT Park resident. However, 304 applications were rejected, and 281 companies had their resident status revoked due to non-compliance with obligations or engaging in unauthorized activities.

 

Remarkably, the combined revenue of resident companies in 2023 exceeded $1 billion for the first time. Moreover, the count of export-oriented companies reached 551, with an impressive export volume totaling $344 million.

 

What privileges does resident status confer?

 

Resident status grants exemption from all forms of corporate taxation. Specifically, non-residents are liable to pay corporate tax ranging from 4-15%, whereas residents are relieved from this obligation. The social tax rate for non-residents is 12%, while residents are exempt from it. Non-residents incur an income tax rate of 12%, whereas residents are subject to a reduced rate of 7,5%. Additionally, non-residents are subjected to VAT on imported services, while residents are not.

 

 

New IT Park residents in January 2024

 

In January 2024, a total of 75 companies were granted IT Park resident status, spanning diverse sectors within the IT industry. Notably, software development emerged as the predominant field among the new entrants, with 31 companies. This trend is encouraging, considering the high value-added nature of software development and the indispensable role of the international software market.

 

Furthermore, IT education emerged as another prominent sector, with 17 companies, reflecting substantial interest in nurturing and advancing professionals in the field of information technology.

 

Furthermore, a significant number of companies are engaged in BPO (11), license implementation (11), as well as design and multimedia products (3).

 

At the end of December 2023, new types of activities were approved, attracting applications from residents. One such sector is design and multimedia products, which is being pursued by “UNITED SOFT” LLC. This company specializes in creating animated videos and clips and has participated in developing animation for the Bollywood film “Bahubali”.

 

Interest in residency at IT Park continues to draw companies not only from Uzbekistan but also from various other countries. Although the majority of new companies originate from Uzbekistan, registrations from Russia (5), Turkey (2), South Korea, and Australia (1 each) accentuate the international appeal of IT Park and Uzbekistan as a destination for doing IT business.

 

Notably, 38 companies from regions and 37 companies from Tashkent obtained resident status. Among the 75 new resident companies, 26 are export-oriented.

 

 

How to become a resident of IT Park?

 

To apply for residency, log in to the personal account on the my.it-park.uz website using the company’s EDS key. In the “Applications” section, submit a business plan for consideration by the Expert Council. Term of consideration: 15 working days.

 

The full list of IT Park residents can be found here.