Assignment 4: Main Risks of Entrepreneurial Activity Registration Documents Identify the specific registration documents required for starting a business in the Fergana region

Assignment 4: Main Risks of Entrepreneurial Activity Registration Documents
Identify the specific registration documents required for starting a business in the Fergana region.
So you have a business idea for booming Uzbekistan (read this) that requires you to start a company locally? You might think it’s very Soviet, complicated, expensive, and that legal help is required. Some lawyers won’t hesitate to overcharge you.
Guess what, it’s really not that complicated.
Uzbekistan is one of the easiest places in the world to start a company
It ranks 8th in the world when it comes to starting a business in the “Ease of Doing Business 2019” report by the World Bank.
Non-resident foreigners should open a IP OOO, which is a special LLC for them. The main difference is that the starting capital must be a minimum of 400 million Uzbek Soms, which is about $42,000 (double check as the Uzbek Som fluctuates a lot).
It’s very easy. You need:
– your passport copy
– the shareholders agreement & the company charter. This is fairly standard, any local lawyer can organize this. You can hire an interpreter and go see a local lawyer, it’ll be much more affordable than going to the lawyers that offer service in English.
– about US50 for various fees
– a registered address (you can use your accountant’s)



Analyze the potential risks and challenges related to each registration document, such as inaccuracies, missing information, or non-compliance with legal requirements.
As global regulations proliferate and stakeholder expectations increase, organizations are exposed to a greater degree of compliance risk than ever before. In this issue of CFO Insights, we’ll discuss how CFOs can work with their Chief Compliance Officers to understand the full spectrum of compliance risks lurking in each part of the organization.
As global regulations proliferate and stakeholder expectations increase, organizations are exposed to a greater degree of compliance risk than ever before. Specifically, compliance risk is the threat posed to a company's financial, organizational, or reputational standing resulting from violations of laws, regulations, codes of conduct, or organizational standards of practice.
To understand their risk exposure, many organizations may need to improve their risk assessment process to fully incorporate compliance risk exposure. The case for conducting robust compliance risk assessments can be made given today’s business complexity, but it is also deeply rooted in the U.S. Federal Sentencing Guidelines for Organizations, which establish the potential for credit or reduced fines and penalties should an organization be found guilty of a compliance failure. Nevertheless, according to a survey conducted jointly by Deloitte & Touche LLP and Compliance Week, 40% of companies do not perform an annual compliance risk assessment.

Explore strategies and best practices to mitigate the risks associated with registration documents, such as double-checking information, seeking legal advice, or utilizing professional services.

What is the goal of risk mitigation?
Risk mitigation is the process of planning for disasters and having a way to lessen negative impacts.Although the principle of risk mitigation is to prepare a business for all potential risks, a proper risk mitigation plan will weigh the impact of each risk and prioritize planning around that impact. Risk mitigation focuses on the inevitability of some disasters and is used for those situations where a threat cannot be avoided entirely. Rather than planning to avoid a risk, mitigation deals with the aftermath of a disaster and the steps that can be taken prior to the event occurring to reduce adverse and, potentially, long-term effects.
Ideally, an organization would be prepared for all risks and threats and avoid them entirely. However, having a risk mitigation plan can help an organization prepare for the worst, acknowledging that some degree of damage will occur and having systems in place to confront that.