Opportunities for Uzbek citizens to purchase shares of foreign companies are expanding. This was announced in the resolution of the Central Bank Board "On introducing amendments to the Regulation on the procedure for carrying out certain currency operations related to the movement of capital," adopted on June 2 of this year and registered on June 15.
According to the document, individuals are now permitted to carry out investment activities abroad, i.e., to participate in the charter capital of foreign companies or to acquire equity interests, in an amount not exceeding the equivalent of 10,000 US dollars per calendar year.
Also, the transfer of funds to replenish foreign brokerage or investment accounts will be carried out only through investment intermediaries holding the relevant license.
Furthermore, enterprises with state participation and their subsidiaries will be allowed to carry out investment activities abroad up to 100,000 US dollars per calendar year, while enterprises without state participation can do so up to 200,000 US dollars.
Another aspect — enterprises with state participation will have the opportunity to direct up to 50,000 dollars, and enterprises without state participation up to 100,000 dollars, as working capital for their foreign branches and representative offices.
According to the resolution, residents are required to submit information on their foreign investment activities to the servicing banks on a quarterly basis. If the information is not submitted in a timely manner, operations may be temporarily suspended.
