Central Bank of Uzbekistan Limits Capital Outflow for Foreign Investment

Tashkent, Uzbekistan (UzDaily.com) — The Board of the Central Bank of the Republic of Uzbekistan has approved amendments to the Regulation on the Procedure for Exercising Certain Foreign Exchange Operations Related to Capital Movement.

The document, registered by the Ministry of Justice on 15 June 2026 under number 2536-3, enters into force three months after its official publication. The amendments were coordinated with the Director of the National Agency for Perspective Projects of Uzbekistan.

According to the updated procedure, the regulator has established maximum volumes of funds that residents can send abroad for investment activities during one calendar year. For companies with a state share, the limit for establishing foreign enterprises or acquiring equity stakes in them is now set at US$100,000, while private organizations can invest up to an equivalent of US$200,000.

To replenish the working capital of their foreign branches and representative offices, state-owned companies are permitted to transfer no more than US$50,000, while the private sector is allowed up to US$100,000.

For individuals, the annual limit for conducting investment activities abroad, including contributing to the authorized capital of foreign firms, is set at an equivalent of US$10,000. Furthermore, the transfer of funds by citizens to replenish personal brokerage or investment accounts in foreign nations is now permitted exclusively with the participation of licensed investment intermediaries.

Carrying out transactions that exceed these specified limits or are not covered by the new rules is allowed only on the basis of separate decisions by the President or the Cabinet of Ministers of Uzbekistan.

The new rules also detail the mechanism for tracking such transactions. Commercial banks are required to record all capital movement operations in the special FERUz information system of the Central Bank.

An operation is recognized as officially registered only after the bank enters all required information into the system and the data is subsequently approved by the deputy chairman of the bank's management board. The mandatory information checklist includes data on the resident and non-resident, the type and amount of the transaction, the funds return schedule, and the form of capital attraction. The bank is given one working day to enter this information into the database after the client provides the application and copies of the documents.

In addition, the amendments introduce strict quarterly reporting requirements for investors.

Residents must submit information regarding their foreign investment activities to their servicing bank by the 25th day of the month following the reporting quarter using an updated form. This form must specify the market value of assets, the amount of dividends received, and the financial results of the non-resident entity. Banks consolidate this data and forward it to the Central Bank by the end of the reporting month.

In the event that reports are not submitted or are submitted late, banks are required to block the subsequent foreign exchange operations of the non-compliant investor.