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Law of the Republic of Uzbekistan

On Currency Regulation

(new edition)

Chapter 1. General Provisions

Article 1. Purpose of this Law The purpose of this Law is to regulate relations in the field of conducting currency transactions and currency control.

Article 2. Legislation on Currency Regulation Legislation on currency regulation consists of this Law and other legislative acts.

On the territory where a special legal regime is established by the Constitutional Law of the Republic of Uzbekistan, currency relations are regulated by rules different from those provided for by this Law.

If international treaties of the Republic of Uzbekistan establish rules other than those provided for by the legislation of the Republic of Uzbekistan on currency regulation, then the rules of the international treaty apply.

Article 3. Scope of this Law This Law regulates relations related to ensuring the implementation of the unified state currency policy of the Republic of Uzbekistan.

Article 4. Basic Concepts The following basic concepts are used in this Law:

• exchange rate — the rate of foreign currency in relation to the currency of the Republic of Uzbekistan;
• currency control — the activity of currency control bodies aimed at ensuring compliance by residents and non-residents with the requirements of legislation on currency regulation;
• currency transactions — transactions related to the transfer of ownership and other rights to currency values, the use of currency values as a means of payment, import, mailing and transfer to the Republic of Uzbekistan, as well as export, mailing and transfer from the Republic of Uzbekistan of currency values, transactions in the currency of the Republic of Uzbekistan between residents and non-residents;
• currency regulation — the activity of the currency regulatory body in establishing the procedure for the circulation of currency values, rules for their possession, use and disposal;
• currency values — foreign currency, securities and payment documents whose nominal value is expressed in foreign currency, securities without nominal value issued by non-residents, refined gold in ingots;
• foreign currency — banknotes that are in circulation and are a legal means of cash payment on the territory of a foreign state (group of foreign states), as well as withdrawn or withdrawn from circulation but subject to exchange banknotes, funds in bank accounts and deposits in monetary units of foreign states (groups of foreign states) and international monetary or accounting units;
• derivative financial instruments related to foreign currency (currency derivatives) — contracts for the purchase and sale of foreign currency, under which the fulfillment of obligations is carried out through a certain period of time or depending on the value or change in the exchange rate of foreign currency;
• currency of the Republic of Uzbekistan (national currency) — the monetary unit of the Republic of Uzbekistan (sum).

Article 5. Basic Principles of this Law The main principles of this Law are:

• unity of the system of currency regulation and currency control;
• priority of economic measures in the implementation of state policy in the field of currency regulation and currency control;
• prevention of illegal interference by state bodies in currency transactions of residents and non-residents.

Article 6. Residents and Non-Residents of the Republic of Uzbekistan Residents of the Republic of Uzbekistan (hereinafter referred to as residents) are citizens of the Republic of Uzbekistan, including those abroad, foreign citizens having a residence permit in the Republic of Uzbekistan, stateless persons having a residence permit in the Republic of Uzbekistan, all legal entities created in accordance with the legislation of the Republic of Uzbekistan, as well as their branches and representative offices with their location in the Republic of Uzbekistan and outside its borders, diplomatic, trade and other official representations of the Republic of Uzbekistan, including those located outside the Republic of Uzbekistan, international organizations whose headquarters are located on the territory of the Republic of Uzbekistan.

Non-residents of the Republic of Uzbekistan (hereinafter referred to as non-residents) are persons who do not fall under the concept of resident in accordance with the first part of this article.

Chapter 2. Currency Regulation

Article 7. State Body of Currency Regulation The state body of currency regulation is the Central Bank of the Republic of Uzbekistan (hereinafter referred to as the Central Bank).

Within its competence, the Central Bank:

• adopts normative legal acts mandatory for execution by non-residents on the territory of the Republic of Uzbekistan, as well as by residents on the territory of the Republic of Uzbekistan and outside its borders;
• determines the rules for carrying out currency transactions;
• carries out licensing and regulates the activities of currency exchanges;
• establishes limits for open currency positions for banks;
• prepares and publishes statistics on currency transactions and the external sector in accordance with generally accepted international practice;
• establishes the procedure for monitoring currency transactions conducted by residents and non-residents, including with currency control bodies;
• establishes forms of accounting and reporting on currency transactions for banks of the Republic of Uzbekistan and determines the order and deadlines for their submission;
• establishes forms of accounting and reporting on currency transactions mandatory for submission by all residents and non-residents for the compilation of external sector statistics;
• carries out regulation and control over the activities of banks of the Republic of Uzbekistan regarding their compliance with legislation on currency regulation.

The Central Bank has the right to conduct all types of currency transactions in the Republic of Uzbekistan and outside its borders.

Article 8. Exchange Rate The exchange rate for operations on the purchase and sale of foreign currency on the territory of the Republic of Uzbekistan is determined on a contractual basis, based on supply and demand for foreign currency.

When determining the exchange rate of the currency of the Republic of Uzbekistan in relation to foreign currency, only market mechanisms are used.

In establishing the procedure for the purchase and sale of foreign currency, the Central Bank provides for the creation of conditions for determining the exchange rate based on demand for foreign currency and its supply.

The Central Bank regularly sets the exchange rate for the purposes of accounting, statistical and other reporting on currency transactions, as well as for the calculation of customs and other mandatory payments on the territory of the Republic of Uzbekistan.

Article 9. Settlements and Payments on the Territory of the Republic of Uzbekistan All settlements and payments for goods (works, services) on the territory of the Republic of Uzbekistan are carried out in the currency of the Republic of Uzbekistan, except for cases provided for by this Law.

Tariffs, prices for goods (works, services), including on national electronic trading platforms, as well as requirements for the size of charter funds (charter capitals) of legal entities on the territory of the Republic of Uzbekistan are determined exclusively in the currency of the Republic of Uzbekistan.

Linking prices for goods (works, services) sold on the territory of the Republic of Uzbekistan to foreign currencies and conditional units is not allowed. In exceptional cases, for projects implemented with the participation of foreign investments attracted under agreements on public-private partnership and investment contracts with the Government of the Republic of Uzbekistan, based on decisions of the President of the Republic of Uzbekistan, linking prices for goods (works, services) sold on the territory of the Republic of Uzbekistan to foreign currencies and conditional units is allowed.

State duties, fees and other mandatory payments are collected only in the currency of the Republic of Uzbekistan, except for consular fees.

Article 10. Currency Values of Residents and Their Use Individuals who are residents have the right for the purpose of carrying out currency transactions:

• own currency values imported, transferred or mailed to the Republic of Uzbekistan, received or acquired in the Republic of Uzbekistan, and use them at their discretion;
• carry out cross-border international non-trade money transfers;
• import, transfer and mail to the Republic of Uzbekistan, as well as export, transfer and mail from the Republic of Uzbekistan currency values in the manner established by legislation.

Legal entities that are residents have the right for the purpose of carrying out currency transactions:

• own currency values;
• transfer to the Republic of Uzbekistan, as well as transfer from the Republic of Uzbekistan foreign currency in the manner established by legislation.

Article 11. Repatriation of Assets in Foreign Trade Operations

Repatriation of assets in foreign trade operations is the fulfillment of a non-resident's obligations partially or fully through:

• receipt of funds or goods (performance of works, provision of services) under the non-resident's obligations;
• termination of the non-resident's obligation by set-off of a counter-claim of the same kind;
• termination of an obligation existing between the parties by another obligation between the same persons, providing for a different subject matter or method of performance;
• receipt of an insurance payout.

In the event of a resident assigning a claim against a non-resident to another resident, the corresponding obligation to ensure the repatriation of assets transfers to the resident who accepted the claim.

A resident (non-resident) is obliged to ensure the repatriation of assets in foreign trade operations.

If the term for repatriation of assets in foreign trade operations exceeds 180 days from the date of the non-resident's obligation arising, such operation is qualified as a capital movement operation.

The procedure for carrying out control and monitoring of foreign trade operations is established by the Cabinet of Ministers of the Republic of Uzbekistan.

(Article 11 supplemented by Part 5 by the Law of the Republic of Uzbekistan dated March 11, 2022 No. ZRU-758 — National Database of Legislation, 12.03.2022, No. 03/22/758/0207)

Article 11-1. Liability for Failure to Ensure Repatriation of Assets in Foreign Trade Operations

Residents who have not ensured the repatriation of assets in foreign trade operations for more than forty-five days (for small business entities — ninety days) after the expiration of one hundred and eighty days from the date of payment or export to a non-resident shall pay a fine to the republican budget:

• in the equivalent of 5 percent of the sum of unrepatriated assets — in case of delay in repatriation of assets up to three hundred and sixty days from the date of payment or export to a non-resident;
• additionally in the equivalent of 10 percent of the sum of unrepatriated assets — in case of delay in repatriation of assets from three hundred and sixty to five hundred and forty-five days from the date of payment or export to a non-resident;
• additionally in the equivalent of 35 percent of the sum of unrepatriated assets — in case of delay in repatriation of assets for more than five hundred and forty-five days from the date of payment or export to a non-resident.

In the event of force majeure circumstances, the term for repatriation of assets is extended for the duration of the force majeure. The occurrence of force majeure circumstances is confirmed by the authorized body in accordance with the legislation of the state in which it occurred.

Upon receipt into the accounts of residents of the sum of insurance compensation (in national and/or foreign currencies) under an export contract insurance policy, the amount of accounts receivable for such export contract for the purpose of applying financial sanctions is reduced by the amount of the received insurance compensation.

Fines for failure to ensure repatriation of assets in foreign trade operations are not applied in the following cases:

• during the period of delivery of equipment and/or components under import contracts where delivery terms are established for more than one hundred and eighty days, depending on their technical characteristics and specifics;
• in the case of presentation of a document issued by an authorized body confirming the destruction or confiscation by state authorities of goods that became unusable during transportation or storage for reasons beyond the control of the parties;
• if the terms established in import contracts concluded within the framework of projects implemented in accordance with decisions of the President of the Republic of Uzbekistan and the Cabinet of Ministers of the Republic of Uzbekistan, or import contracts approved by the management committee within the framework of implementation of production sharing agreements, are not violated;
• if the total amount of overdue accounts receivable for export operations does not exceed 10 percent of the currency earnings secured during the thirty-six months preceding the date of the occurrence of the overdue accounts receivable;
• regarding the sum of repatriated assets in accordance with the requirements of this Law before the court's decision on the application of a fine is rendered.

In the event of voluntary payment of the fine within ten days, proportionally to the sum of assets repatriated in foreign trade operations during the ninety-day period, the resident is refunded the sum of the paid fine.

In the event of full repatriation of assets in foreign trade operations within ninety days from the moment the judicial act enters into legal force, the fine is refunded, the proceedings on the application of the fine are terminated, and all measures taken for forced collection are canceled.

Collection of fines exceeding 20 percent of the sum of current assets of a legal entity — resident of the Republic of Uzbekistan as of the last reporting date, is carried out with the provision of the opportunity for monthly payment with an installment plan for six months from the date of the decision on collection of the sum subject to collection.

(Article 11-1 introduced by the Law of the Republic of Uzbekistan dated March 11, 2022 No. ZRU-758 — National Database of Legislation, 12.03.2022, No. 03/22/758/0207)

Article 12. Accounts of Residents

Residents have the right to open accounts in foreign currency in banks of the Republic of Uzbekistan.

Residents — natural persons have the right to open accounts and deposits in foreign currency in banks of the Republic of Uzbekistan and abroad.

Residents — legal entities are permitted to open and use accounts outside the territory of the Republic of Uzbekistan upon the presence of decisions of the President of the Republic of Uzbekistan or the Government of the Republic of Uzbekistan, or international treaties of the Republic of Uzbekistan, which provide for the opening and purposes of using accounts in the currency of the Republic of Uzbekistan or foreign currency in banks abroad.

Residents — legal entities, after opening accounts outside the territory of the Republic of Uzbekistan, are obliged to notify the tax authorities at the place of registration, as well as the Central Bank, about the opening (closing) of accounts and changes in account details, as well as about balances and turnovers in these accounts quarterly no later than one month after the end of the reporting quarter in the manner established by the Central Bank.

The opening and use of accounts outside the territory of the Republic of Uzbekistan by diplomatic and other representations of the Republic of Uzbekistan, as well as representations of organizations of the Republic of Uzbekistan outside the territory of the Republic of Uzbekistan, not carrying out economic or other commercial activity, is permitted for the period of their stay and activity abroad. Upon completion of their stay and activity abroad, accounts are subject to closure, and the balance of funds in the accounts is transferred to the Republic of Uzbekistan.

Residents have the right without restrictions to transfer foreign currency from their accounts in banks of the Republic of Uzbekistan or in banks outside the Republic of Uzbekistan to their accounts in banks of the Republic of Uzbekistan.

Article 13. Accounts of Non-Residents

Non-residents have the right to open and use bank accounts in banks of the Republic of Uzbekistan in foreign currency and the currency of the Republic of Uzbekistan.

For the opening and use of bank accounts by non-residents — legal entities in the Republic of Uzbekistan, a mandatory requirement is the carrying out of activity on the territory of the Republic of Uzbekistan.

Chapter 3. Currency Operations

Article 14. Types of Currency Operations

Currency operations are divided into domestic and international (cross-border) operations.

Domestic currency operations are operations conducted on the territory of the Republic of Uzbekistan.

International (cross-border) currency operations are divided into current international operations and capital movement operations (capital transfers).

Article 15. Current International Operations

Current international operations include:

• all payments due in connection with conducting foreign trade, other current activities, including services (works);
• payments due in the form of interest and other income, including on bank deposits, loans, leasing, as well as in the form of net income from other investments;
• payment of the sum during the repayment period of a loan (borrowing) in an amount not exceeding double the size of the part of the received debt, calculated as the ratio of the debt to the number of periods of its repayment specified in the contract;
• non-trade transfers.

Non-trade transfers include:

• transfers between natural persons in an amount up to the equivalent of one hundred million sums;
• payment for goods (services, works) for personal needs;
• payment of wages, scholarships, pensions, alimony;
• payment of expenses related to sending employees outside the Republic of Uzbekistan;
• payment for education, treatment, and tourism;
• payment for the maintenance of diplomatic and other representations of the Republic of Uzbekistan in foreign states, as well as permanent representations of the Republic of Uzbekistan at intergovernmental or intergovernmental organizations;
• payments related to notarial and investigative actions, as well as payment of state duty in connection with the consideration of cases in courts;
• payments of funds based on court, arbitration, as well as investigative and other law enforcement bodies' decisions;
• payments for participation in international congresses, symposia, conferences, sports and cultural events, as well as in other international meetings, exhibitions, and fairs, excluding investment and capital expenditures;
• payments related to the burial of the deceased;
• payment of author's remuneration, payment of patent fees, and payment under obligations of license agreements in the field of intellectual property;
• contributions to international non-profit organizations.

Current international operations and the associated purchase or sale of foreign currency by residents and non-residents are carried out without restrictions.

Article 16. Capital Movement Operations

Capital movement operations include all international (cross-border) currency operations that are not current international operations, including:

• carrying out investment activities, including replenishment by residents of their branches located outside the territory of the Republic of Uzbekistan with working capital;
• obtaining and providing loans (borrowings), carrying out leasing operations;
• purchase and sale of real estate;
• attraction of funds from foreign states and placement of funds in accounts and deposits in foreign states;
• acquisition or sale of the full exclusive right to objects of intellectual property.

Attraction into the Republic of Uzbekistan of direct foreign investments and their repatriation, as well as the realization of rights acquired in connection with the implementation of direct foreign investments, are carried out without restrictions.

Capital movement operations for the acquisition and construction abroad of real estate objects for the needs of diplomatic and other representations of the Republic of Uzbekistan are carried out by decision of the Cabinet of Ministers of the Republic of Uzbekistan.

The procedure for the circulation on the territory of the Republic of Uzbekistan of securities in foreign currency, acquisition by residents of securities in foreign currency, as well as acquisition by non-residents of securities issued by residents, is established by the authorized state body for regulating the securities market jointly with the Central Bank.

Article 17. Currency Operations Between Residents

Currency operations between residents are permitted in the implementation of:

• operations related to settlements in duty-free shops, as well as settlements in the sale of goods and provision of services to passengers during the journey of transport vehicles in international transportation;
• operations between commission agents (attorneys) and principals (trustors) in the provision of services by commission agents (attorneys) related to the conclusion and execution of contracts with non-residents for the transfer of goods, performance of works, provision of services, transfer of information and results of intellectual activity, exclusive rights to them, including operations for the return to principals (trustors) of monetary sums (other property);
• operations providing for the conduct of settlements and the implementation of transfers of funds in foreign currency received from abroad from the implementation of transport-expeditionary services to the accounts of expeditionary companies, based on concluded contracts;
• operations providing for the conduct of settlements and the implementation of transfers of funds in foreign currency received from abroad from the implementation of transport-expeditionary services to the accounts of expeditionary companies, based on concluded contracts;

operations for payment and reimbursement of expenses of individuals related to business trips outside the territory of the Republic of Uzbekistan, as well as operations for the repayment of unspent advances issued in connection with business trips; Send comments on the document Listen to audio Get a link to the document element operations involving the conduct of settlements and the transfer of funds to diplomatic missions, consular institutions of the Republic of Uzbekistan, as well as permanent missions of the Republic of Uzbekistan at intergovernmental or intergovernmental organizations; Send comments on the document Listen to audio Get a link to the document element transfers of funds by a resident individual from accounts opened in banks of the Republic of Uzbekistan to the accounts of other resident individuals opened in banks of the Republic of Uzbekistan in non-trade operations; Send comments on the document Listen to audio Get a link to the document element operations related to settlements between transport organizations and individuals located outside the territory of the Republic of Uzbekistan, as well as branches, representative offices and other subdivisions of legal entities under passenger transport contracts; Send comments on the document Listen to audio Get a link to the document element operations between commission agents (attorneys-in-fact) and principals (clients) in the provision of services related to the conclusion and execution of contracts, the obligations under which are to be fulfilled as a result of clearing, in the event that the final buyer or seller is a non-resident; Send comments on the document Listen to audio Get a link to the document element operations related to the use of currency values as security for the fulfillment of an obligation, as well as their recovery; Send comments on the document Listen to audio Get a link to the document element operations related to the deposit and return of currency values to the authorized fund (authorized capital) of legal entities; Send comments on the document Listen to audio Get a link to the document element operations related to the provision of banking services; See previous edition. Send comments on the document Listen to audio Get a link to the document element Send comments on the document Listen to audio Get a link to the document element operations for financing under the assignment of monetary claims by credit organizations, in the event that the client's counterparty (creditor) is a non-resident; LexUz Comment Unofficial translation. Part three of Article 17 is supplemented by part three Law of the Republic of Uzbekistan dated April 17, 2025 No. ZRU-1058. See official text in Uzbek language . Send comments on the document Listen to audio Get a link to the document element operations related to charity; Send comments on the document Listen to audio Get a link to the document element operations related to the receipt of currency values by right of inheritance. Send comments on the document Listen to audio Get a link to the document element Currency operations between residents not provided for in part one of this article are prohibited. Send comments on the document Listen to audio Get a link to the document element Article 18. Currency operations between non-residents [ OKOZ: 1. 03.00.00.00 Civil legislation / 03.11.00.00 Separate types of obligations / 03.11.16.00 Bank account; 2. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.03.00 Currency operations (transactions) / 07.27.03.01 Current international operations] Send comments on the document Listen to audio Get a link to the document element Non-residents have the right to carry out transfers between themselves related to current international operations from accounts in banks outside the territory of the Republic of Uzbekistan to bank accounts in banks of the Republic of Uzbekistan or from bank accounts in banks of the Republic of Uzbekistan to accounts in banks outside the territory of the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element Individuals - non-residents may carry out non-trade transfers from accounts opened in banks of the Republic of Uzbekistan to the benefit of other individuals - non-residents on their accounts opened in banks of the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element Non-residents may carry out currency operations with securities between themselves from accounts in banks of the Republic of Uzbekistan to accounts in banks of the Republic of Uzbekistan taking into account the requirements established by the legislation of the Republic of Uzbekistan on the securities market. LexUz Comment See: ruling of the Board of the Central Bank of the Republic of Uzbekistan dated August 29, 2020 No. 18/5 "On approval of the rules for carrying out currency operations in the Republic of Uzbekistan" (Reg. No. 3281 dated 31.08.2020). Send comments on the document Listen to audio Get a link to the document element Article 19. Purchase and sale of foreign currency on the territory of the Republic of Uzbekistan [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.06.00 Purchase and sale of foreign currency. Conversion. Exchange points] Send comments on the document Listen to audio Get a link to the document element The purchase and sale of foreign currency by residents and non-residents on the territory of the Republic of Uzbekistan is carried out exclusively through banks of the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element The purchase and sale of foreign currency on the interbank currency market in the Republic of Uzbekistan is carried out exclusively by banks of the Republic of Uzbekistan and the Central Bank. Send comments on the document Listen to audio Get a link to the document element Article 20. Rights and obligations of banks of the Republic of Uzbekistan in carrying out currency operations [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.19.00.00 Banking system / 07.19.02.00 Commercial banks. Private banks. Foreign banks; 2. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.21.00.00 Banking activity / 07.21.08.00 Bank operations with securities] Send comments on the document Listen to audio Get a link to the document element Banks of the Republic of Uzbekistan have the right to have correspondent and other accounts in banks of the Republic of Uzbekistan and foreign banks and carry out operations for the purchase and sale of foreign currency, including currency derivatives, directly between themselves, with their clients, as well as through currency exchanges and on international markets. Send comments on the document Listen to audio Get a link to the document element Banks of the Republic of Uzbekistan are obliged to carry out currency operations upon presentation by residents and non-residents of the corresponding documents required by banks for the completion of currency operations. Send comments on the document Listen to audio Get a link to the document element Article 21. Restrictions on the conduct of currency operations [ OKOZ: 1. 02.00.00.00 Fundamentals of state administration / 02.01.00.00 Cabinet of Ministers of the Republic of Uzbekistan (see also 01.11.00.00) / 02.01.02.00 Competence of the Cabinet of Ministers; 2. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.09.00 Currency control; 3. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.30.00.00 Counteraction to the legalization of income obtained from criminal activity and financing of terrorism / 07.30.01.00 Measures aimed at counteracting the legalization of income obtained from criminal activity and financing of terrorism] Send comments on the document Listen to audio Get a link to the document element The Central Bank may introduce restrictions on the conduct of currency operations: Send comments on the document Listen to audio Get a link to the document element for the purpose of counteracting the legalization of income obtained from criminal activity, financing of terrorism and financing of the proliferation of weapons of mass destruction; Send comments on the document Listen to audio Get a link to the document element in cases of threats to the stability of the balance of payments with compliance with obligations under the Articles of the Agreement of the International Monetary Fund. Send comments on the document Listen to audio Get a link to the document element The Cabinet of Ministers of the Republic of Uzbekistan, with the agreement of the Central Bank, may introduce restrictions on the conduct of currency operations in the event of a threat to economic security. Send comments on the document Listen to audio Get a link to the document element The term of validity of restrictions may not exceed one year from the date of introduction. Upon expiration of the established term, restrictions are considered canceled. The action of restrictions may be canceled in full or in part in advance. LexUz Comment See: Article 12 of the Law of the Republic of Uzbekistan "On the Central Bank of the Republic of Uzbekistan". Send comments on the document Listen to audio Get a link to the document element Article 22. Import into the Republic of Uzbekistan and export from the Republic of Uzbekistan of cash currency of the Republic of Uzbekistan and foreign currency [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.08.00 Import and export of currency and currency values; 2. 10.00.00.00 Foreign economic activity. Customs affairs / 10.07.00.00 Movement across the customs border of currency, goods and transport vehicles by individuals] Send comments on the document Listen to audio Get a link to the document element The import into the Republic of Uzbekistan of cash currency of the Republic of Uzbekistan and foreign currency by individuals is carried out without restrictions. Send comments on the document Listen to audio Get a link to the document element The export by individuals of cash currency of the Republic of Uzbekistan and foreign currency beyond the territory of the Republic of Uzbekistan is carried out in an amount not exceeding the equivalent of one hundred million sums. The export of cash currency in an amount exceeding the established equivalent is carried out in accordance with the procedure determined by the Cabinet of Ministers of the Republic of Uzbekistan. LexUz Comment See: ruling of the Cabinet of Ministers dated January 30, 2018 No. 66 "On approval of the rules for the import and export of cash currency of the Republic of Uzbekistan and cash foreign currency by individuals through the customs border of the Republic of Uzbekistan". Send comments on the document Listen to audio Get a link to the document element The import into the Republic of Uzbekistan and export from the Republic of Uzbekistan of cash currency of the Republic of Uzbekistan and foreign currency by legal entities, with the exception of banks of the Republic of Uzbekistan, is prohibited. Send comments on the document Listen to audio Get a link to the document element Chapter 4. Currency Control Send comments on the document Listen to audio Get a link to the document element Article 23. Currency control bodies [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.09.00 Currency control] Send comments on the document Listen to audio Get a link to the document element The bodies of currency control in the Republic of Uzbekistan are the Central Bank, the Chamber of Accounts, the Ministry of Finance, the State Tax Committee and the State Customs Committee of the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element Article 24. Rights and obligations of currency control bodies [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.09.00 Currency control; 2. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.10.00 Reporting on currency operations; 3. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.13.00 Other issues of currency regulation] Send comments on the document Listen to audio Get a link to the document element Currency control bodies within their powers are obliged to carry out control over currency operations carried out by residents and non-residents in the Republic of Uzbekistan, in terms of compliance of these operations with the legislation of the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element Currency control bodies within their powers have the right: Send comments on the document Listen to audio Get a link to the document element to carry out checks on compliance by residents and non-residents with legislation on currency regulation; Send comments on the document Listen to audio Get a link to the document element to carry out checks in the established order of completeness and accuracy of accounting and reporting on currency operations of residents and non-residents; Send comments on the document Listen to audio Get a link to the document element to request documents and information related to the conduct of currency operations; Send comments on the document Listen to audio Get a link to the document element to establish the procedure for submitting reporting on currency operations; Send comments on the document Listen to audio Get a link to the document element to present requirements for the elimination of identified violations and take other measures that are mandatory for execution by all residents and non-residents in the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element Currency control bodies may require the presentation of only those documents that are directly related to the conducted currency operation. Send comments on the document Listen to audio Get a link to the document element Currency control bodies are obliged to preserve in accordance with the legislation of the Republic of Uzbekistan commercial, banking and other legally protected secrets that became known to them in the exercise of their powers. Send comments on the document Listen to audio Get a link to the document element The Central Bank carries out currency control over currency operations carried out by banks of the Republic of Uzbekistan. Send comments on the document Listen to audio Get a link to the document element Article 25. Rights and obligations of residents and non-residents during inspections by currency control bodies [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.01.00 General provisions] Send comments on the document Listen to audio Get a link to the document element Residents and non-residents carrying out currency operations in the Republic of Uzbekistan have the following rights: Send comments on the document Listen to audio Get a link to the document element to familiarize themselves with the materials of inspections carried out by currency control bodies; Send comments on the document Listen to audio Get a link to the document element to appeal the actions of currency control bodies; Send comments on the document Listen to audio Get a link to the document element for compensation of actual damage caused by unlawful actions (inaction) of currency control bodies and their officials. Send comments on the document Listen to audio Get a link to the document element Residents and non-residents carrying out currency operations are obliged: Send comments on the document Listen to audio Get a link to the document element to provide currency control bodies with all requested documents and information on the implementation of currency operations; Send comments on the document Listen to audio Get a link to the document element to present explanations to currency control bodies during the conduct of their inspections, as well as upon their completion; Send comments on the document Listen to audio Get a link to the document element to keep records and compile reporting on carried out currency operations, as well as to ensure their preservation; Send comments on the document Listen to audio Get a link to the document element to fulfill requirements (orders, representations) of currency control bodies on the elimination of identified violations; Send comments on the document Listen to audio Get a link to the document element to provide currency control bodies with access to their premises, documents and automated databases during the conduct of their inspections. Send comments on the document Listen to audio Get a link to the document element Chapter 5. Final Provisions Send comments on the document Listen to audio Get a link to the document element Article 26. Reporting on currency operations [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.10.00 Reporting on currency operations] Send comments on the document Listen to audio Get a link to the document element The procedure for submitting reporting on currency operations, its types, form and deadlines for submission are determined by the Central Bank jointly with other currency control bodies within their competence. Send comments on the document Listen to audio Get a link to the document element Individuals do not submit reporting on the purchase and sale of foreign currency. LexUz Comment See Regulation on the procedure for carrying out monitoring of the justification of the conduct of currency operations by legal and physical persons (reg. No. 2467 dated 12.06.2013). Send comments on the document Listen to audio Get a link to the document element Article 27. Resolution of disputes [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.13.00 Other issues of currency regulation] Send comments on the document Listen to audio Get a link to the document element Disputes in the field of conduct of currency operations and currency control are resolved in the manner established by legislation. [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.11.00 Liability for violation of legislation on currency regulation] Send comments on the document Listen to audio Get a link to the document element Article 28. Liability for violation of legislation on currency regulation [ OKOZ: 1. 07.00.00.00 Legislation on finance and credit. Banking activity / 07.27.00.00 Currency regulation and currency control / 07.27.11.00 Liability for violation of legislation on currency regulation] Send comments on the document Listen to audio Get a link to the document element Persons guilty of violating legislation on currency regulation bear responsibility in the established manner. (National database of legislation, October 23, 2019, No. 03/19/573/3942; January 23, 2021, No. 03/21/669/0060; March 12, 2022, No. 03/22/758/0207)