Guarantees for foreign investors

The state of Uzbekistan guarantees the rights and freedoms of investors, non-discrimination of investors in connection with their citizenship, place of residence or country of origin. State authorities are not allowed to interfere with the legitimate business and activities of investors.

Foreign investors, their representatives and employees in Uzbekistan are free to move within the territory of the state.

Export of goods of own production shall not be subject to licensing or application of quotas.

Investments and other assets of investors cannot be subject to requisition and expropriation. Force majeure circumstances can be an exception.

Free transfer of funds

After-tax earnings of an investor gained from investment activities in Uzbekistan can be freely repatriated to a foreign state, reinvested or used otherwise as decided by the investor.

Repatriation of funds by a foreign investor may be suspended on non-discriminatory basis in connection with insolvency and bankruptcy of a company with foreign investments, violation of laws by the investor or in accordance with a court or arbitration decision.

Change in law protection

Legislative acts do not apply retrospectively if their application is detrimental to an investor.

If a change in law occurs within 10 years from the date of investment and it negatively affects investment conditions for an investor, then the investor can, at his choice, apply those laws and regulations that were in force on the date of investment. The change in law protection is applicable to the following cases:

• introduction of additional requirements that complicate the repatriation of investor's profits, unless such repatriation is suspended on non-discriminatory basis in connection with insolvency and bankruptcy of a company with foreign investments, violation of laws by the investor or in accordance with a court or arbitration decision
• introduction of limitations or additional requirements on the amount of investment
• introduction of restrictions on the participation of a foreign investor in local companies as a shareholder
• introduction of additional steps that encumber the process of registration and extension of visas for foreign investors

Conflict of laws provision

In the event of conflict (inconsistency) between the provisions of the laws regulating investment activities and other legislative acts or international treaties signed by Uzbekistan, the provisions that are most favorable for investors shall prevail and apply.

State investments authority

The special state authority in the field of investments is the Uzbek Ministry of Investment, Industry and Trade (miit.uz).

The state investments authority is responsible to assist investors in their communications and interactions with other state agencies, help with the preparation and submission of documents required for obtaining public services, accompanying investors during the reception in state and local authorities.