Registered
Amendments and additions by the Ministry of Justice of the Republic of Tajikistan dated "19" October 2026, No. 634"b"

Approved
Amendments and additions by resolution of the Board of the National Bank of Tajikistan dated "11" September 2026, No. 104

Registered by the Ministry of Justice of the Republic of Tajikistan dated "17" July 2017, No. 634"a"

Approved by resolution of the Board of the National Bank of Tajikistan dated "22" February 2022, No. 23

Instruction No. 223 "On the procedure for notification of the conduct of currency operations related to capital movement"

Instruction No. 223 "On the procedure for notification of the conduct of currency operations related to capital movement" was developed in accordance with part 5 of article 11, article 15 and part 1 of article 16 of the Law of the Republic of Tajikistan "On Currency Regulation and Currency Control" and establishes the procedure and procedures for notification to the National Bank of Tajikistan by legal entities and individuals - residents of the Republic of Tajikistan, including authorized banks, of the conduct of currency operations related to capital movement.

1. General provisions

1. On currency operations related to capital movement (hereinafter - capital movement operations), residents of the Republic of Tajikistan, before the start of payment and mutual settlements related to this operation, are obliged to provide to the servicing authorized bank all supporting documents, report, information and other necessary information.

2. Currency operations related to capital movement include the following operations:

a) direct investments of residents of the Republic of Tajikistan in foreign countries - cross-border investments (a resident of the Republic of Tajikistan controls an enterprise of a resident of another country or has excessive influence in its management). Direct relations of direct investments of residents in foreign countries are formed when the resident acquires 10% or more of the charter capital of the invested legal entity (including, upon formation of a legal entity, a joint legal entity, purchase (acquisition) of a legal entity - non-resident of the Republic of Tajikistan or at least 10% or more of its share or increase of the resident's share in it);

b) portfolio investments of residents of the Republic of Tajikistan in foreign countries - monetary investments and investment of material assets in

securities, including debt securities, shares of foreign companies, providing less than 10% of the investor's participation in the capital of the legal entity (including, purchase (acquisition) of securities, participation in the formation of charter capital or increase of one's share in it, investments in securities of international organizations and foreign states, shares of investment funds); (Resolution of the Board of the NBT dated 11.09.2026, No. 104)

c) conduct by residents of the Republic of Tajikistan of operations with derivative securities of foreign states - securities, the mechanism of issue and circulation of which is carried out with the right of repeated acquisition or sale of securities, financial and material assets within the terms established by the contract (forward, futures transactions, options, savings certificates, etc.);

d) receipt from non-residents of the Republic of Tajikistan and/or provision to them of a loan in currency values with a repayment period of more than one year, as well as extension and modification of the terms of credit agreements and investments (direct and portfolio); (Resolution of the Board of the NBT dated 11.09.2026, No. 104)

e) opening by residents of the Republic of Tajikistan (with the exception of authorized banks) in foreign countries of any accounts and electronic wallets; (Resolution of the Board of the NBT dated 11.09.2026, No. 104)

f) purchase or acquisition by residents in foreign countries of immovable property, including property at the construction stage;

g) extension of the term of payment of the value of exported goods, works and services, the term of return of prepayment for the value of imported goods, works and services or the term of their importation for a period of more than 1 (one) year; (Resolution of the Board of the NBT dated 11.09.2026, No. 104)

h) placement by residents in foreign countries of contributions and deposits in currency values and extension of their terms, as well as purchase and storage of gold bars; (Resolution of the Board of the NBT dated 11.09.2026, No. 104)

i) conduct by residents in foreign countries of other types of investments, as well as other operations recognized in accordance with international norms as currency operations related to capital movement. (Resolution of the Board of the NBT dated 11.09.2026, No. 104)

3. Residents of the Republic of Tajikistan, in the procedure established by the Law of the Republic of Tajikistan "On Currency Regulation and Currency Control" and this Instruction, have the right to carry out without restrictions currency operations related to capital movement, including, without limitation on the number and purpose, to open bank accounts in foreign currency in non-resident banks, subject to compliance with the requirements of the system for countering the legalization (laundering) of proceeds obtained by criminal means, financing of terrorism and financing of the proliferation of weapons of mass destruction.

2. Procedure for notification of the conduct of currency operations related to capital movement

4. Currency operations related to capital movement, provided for in paragraph 2 of this Instruction, are carried out by residents of the Republic of Tajikistan subject to notification of the National Bank of Tajikistan. The notification contains the following detailed information:

a) details of the resident of the Republic of Tajikistan;

b) features of the capital movement operation, including type, essence, amount, currency, interest, date of commencement and completion of the operation, procedure of payment and settlements related to this operation;

c) name and details of the other party to the operation;

d) details of the bank account and the authorized bank servicing this operation;

e) paid or received currency funds related to this operation;

e) details of an account opened in foreign countries in foreign currency, including the type, currency, purpose, date of its opening, terms of payments and settlements through this account, name and other identification details of the foreign organization; (Resolution of the Board of the NBT of 11.09.2026, No. 104)

yo) copies of supporting documents and acts depending on the type of capital movement-related currency operations, including copies of the technical and economic justification of joint projects, the establishment of a legal entity abroad or participation in it, the attraction of credits, copies of credit agreements.

5. Residents of the Republic of Tajikistan, observing the requirements of legislation and business practice, when commencing operations related to capital movement, notify the National Bank of Tajikistan no later than 5 working days from the day of commencement of fulfillment of obligations under the currency contract, and in the case of opening an account in foreign countries — no later than 10 working days from the day of its opening, in the form of appendices 1 and 2. (Resolution of the Board of the NBT of 11.09.2026, No. 104)

6. Residents of the Republic of Tajikistan, in the case of opening an account in foreign countries, no later than 10 working days from the date of its opening, also notify the tax authorities at their place of registration. (Resolution of the Board of the NBT of 11.09.2026, No. 104)

7. Residents of the Republic of Tajikistan may also notify the National Bank of Tajikistan about an account opened by them abroad through the "Notification Window" posted on the website of the National Bank of Tajikistan (www.nbt.tj). (Resolution of the Board of the NBT of 11.09.2026, No. 104)

8. A notification sent by a resident of the Republic of Tajikistan to the National Bank of Tajikistan is the basis for the provision of banking services related to this capital movement-related currency operation by the servicing authorized bank.

9. The National Bank of Tajikistan, no later than 5 working days from the date of receipt of the notification, provides to residents of the Republic of Tajikistan a confirming document in the form of a "notice".

3. Final provisions

10. Servicing authorized banks, in the case of failure by residents of the Republic of Tajikistan to submit a notification meeting the conditions provided for in paragraph 4 of chapter 2 of this Instruction (document, information or data), refuse to carry out the payment and settlements concerning this capital movement-related currency operation.

11. Residents of the Republic of Tajikistan (including authorized banks) monthly (before the 5th day of the month following the reporting month) submit to the National Bank of Tajikistan a report on the carrying out of capital movement-related currency operations in accordance with the requirements of Instruction No. 205 "On filling out the statistical reporting form No. 1–AM 'External financial operations of subjects of foreign economic activity'" (approved by resolution of the Board of the National Bank of Tajikistan of 22.04.2014, No. 69).

12. Servicing authorized banks are obliged to bring the requirements of this Instruction to the attention of their clients and ensure its implementation in the process of banking services.

13. Residents of the Republic of Tajikistan, including servicing authorized banks, in the case of non-compliance with the provisions of this Instruction, are held liable in accordance with the requirements of the normative legal acts of the Republic of Tajikistan.