Foreign citizens made it easier to purchase real estate in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- A Presidential decree  "On regular reforms to improve the business environment and create conditions for sustainable economic growth through the development of the private sector" was adopted.

In accordance with the document, the following is introduced: 

when selling non-agricultural land through an auction on the basis of ownership, payment by installments for up to 3 years is allowed;

buyers who have made a one-time down payment of at least 35 percent on state assets and non-agricultural land sold on installment plan are entitled to pledge this property as loan security.

From 1 May 2022, citizens of foreign states, the list of which is approved by the Cabinet of Ministers, are granted the right, without requiring a residence permit in Uzbekistan, to invest in the form of acquiring the following newly constructed real estate objects:

In Tashkent region, the cities of Tashkent and Samarkand - real estate worth the equivalent of US$150,000, according to contracts concluded during the construction period, as well as real estate objects already put into operation, worth at least US$180,000 in equivalent;

in other regions - real estate objects worth at least US$70 thousand in equivalent under contracts concluded during the construction period, and real estate objects,

already taken into operation, worth at least 85 thousand US dollars in equivalent.

At the same time, the acquisition of these real estate objects is not a basis for obtaining by citizens of foreign states a certificate of permanent registration and residence in Uzbekistan.

Citizens of foreign countries have reduced the cost of real estate required to obtain a residence permit in Uzbekistan from US$400,000 in Tashkent region and the city of Tashkent to US$300,000 in equivalent.