Uzbekistan to Introduce Minimum Charter Capital Requirement for Brokers from July 2026

Tashkent, Uzbekistan (UzDaily.com) — From 1 July 2026, professional participants in Uzbekistan’s securities market, including brokers, fiduciary managers, and investment consultants, will be required to maintain a minimum charter capital of 3,000 basic estimated vzlues (1.236 billion soums).

This requirement is outlined in the decree of President Shavkat Mirziyoyev dated 18 December 2025, on the development of the capital market. The decree makes the “regulatory sandbox” permanent and opens it to domestic market participants.

Under the new rules, the charter capital will increase in stages:

• From 1 July 2027 — 4,000 basic estimated values (1.648 billion soums);
• From 1 July 2028 — 6,000 basic estimated values (2.472 billion soums).

If a company operates across multiple professional areas, the minimum capital will increase proportionally to the number of areas of activity.

In addition, market participants will be required to:

• Ensure sufficient capital and other financial indicators;
• Comply with legislation on countering the legalization of illegal proceeds;
• Use software that meets established standards and secure intellectual property rights for their own developments;
• Appoint managers with higher education in economics, finance, law, mathematics, or IT and at least two years of relevant work experience.

Individuals with unexpunged convictions for economic crimes, corruption, or money laundering, as well as former executives of companies whose licenses were suspended less than three years ago, will be barred from holding management positions.

All licensing requirements will take effect from 1 July 2026, by which time existing investment intermediaries must increase their charter capital and meet the remaining conditions.