Uzbekistan Launches Cashless Property and Vehicle Sales

Tashkent, Uzbekistan (UzDaily.com) — Starting from 1 April 2026, Uzbekistan implements a new procedure for property and vehicle transactions for categories M, N, O, and G, with vehicles no older than ten years.

Under the new rules, all payments between parties must be conducted exclusively through banking instruments, with transactions certified electronically by a notary.

A central feature of the system is the use of escrow accounts, where funds are temporarily held until the transaction is legally confirmed. This eliminates cash handovers and ensures transparency at all stages of the deal.

According to the procedure, the buyer first contacts a bank to submit an application and provide details about the parties, the property or vehicle, and the contract amount. The bank then opens a dedicated escrow account to hold the funds temporarily.

The buyer deposits the agreed amount into the account, either from personal funds or with credit support. In the case of a loan, the bank electronically informs the notary.

Once the funds are in the escrow account, the parties proceed to the notary to formalize the sales contract. Before notarization, the notary requests confirmation of the funds from the bank. If the funds are insufficient or the account is closed, the transaction cannot be certified.

After verifying all conditions, the notary certifies the contract and sends an electronic confirmation to the bank. The transaction becomes legally effective at that moment.

Finally, the bank automatically transfers the funds from the escrow account to the seller’s account, usually on the same or the following business day without further action by the parties. Once received, the seller can withdraw the funds in cash or leave them in the bank.

The new procedure covers a wide range of vehicles, including category M (passenger and light vehicles, buses, and electric cars), category N (trucks), category O (trailers and semi-trailers), and category G (off-road vehicles).

If a notary refuses to certify the transaction, the buyer may request a full refund from the bank’s escrow account.

This mechanism aims to increase transparency, reduce fraud risks, and provide equal protection for buyers and sellers. It is expected to enhance trust in property and vehicle transactions, making the purchasing process safer and more reliable.