Regulatory Alerts2016-01-11
Added · Updated
Commentary on Amendment and Addendum No. 10 to the Instruction on Opening Bank Accounts in Banks of the Republic of Uzbekistan
Amendment and Addendum No. 10 to Instruction No. 1948 removes the requirement for non-business resident legal entities and budget fund recipients to submit a copy of the state registration certificate when opening demand deposit accounts in national currency, as this information is now accessible via the Reg-System. It adds a new sub-paragraph to Article 13 requiring these entities to submit a document confirming registration with the tax authority to comply with Article 84 of the Tax Code. The amendment also updates references to the instruction on deposit operations (replacing registration number 2205 with 2711) and aligns document stamping requirements with the principle that using a company seal is optional for legal entities.