Uzbekistan has completed the formation of the legal framework for the Tashkent International Financial Centre (TIFC). President of the Republic of Uzbekistan Shavkat Mirziyoyev signed a Constitutional Law establishing the Centre’s status at the highest level of national legislation.
The TIFC will be located within Tashkent City. Its legal framework is built around four key pillars:
→ a special tax and foreign exchange regime for Centre participants
→ the Tashkent International Commercial Court, with exclusive jurisdiction
→ the Tashkent Financial Services Authority, responsible for regulation and licensing
→ the application of English law principles, provided they do not conflict with the Constitution
Participants will benefit from greater freedom in conducting cross-border financial transactions and simplified access to international talent, including:
→ visas valid for up to five years for employees and their family members
→ unrestricted repatriation of capital and income
→ the option to calculate and pay salaries in foreign currency or crypto-assets
Tax incentives have been secured until January 1, 2076. They cover corporate income tax, value-added tax, land and property taxes, as well as income generated from the sale of equity interests and securities.
