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NEWS

Export, import of currency simplified in Uzbekistan

www.azernews.az
11 December 2017

The procedure for compulsory declaration of foreign currency by individuals for import to Uzbekistan and export from the country within the amount equal to or not exceeding the equivalent of $2,000 will be canceled from January 1, 2018.

This change is reflected in the decree of the President of Uzbekistan “On measures to further simplify the procedure for the import and export of cash foreign currency by individuals”.

The decree further said that "export by individuals of cash foreign currency outside the Republic of Uzbekistan is carried out without any permits within the amount equal to or not exceeding the equivalent of $5,000”.

It is necessary to declare when importing and exporting from the Republic of Uzbekistan by physical persons the entire amount of cash foreign currency in excess of the amount exceeding in the equivalent of $2000.

The decree was adopted “with a view to simplify the procedure for import and export of cash foreign currency by individuals through the customs border of the Republic of Uzbekistan”.

The amount over $5,000 is allowed for export upon the following rules:

- residents – on the basis of the permission of the Central Bank of the Republic of Uzbekistan;

- non-residents – on the basis of a passenger customs declaration filled in at the entrance to the Republic of Uzbekistan, in which the amount of foreign currency in cash is indicated not less than the amount of foreign cash withdrawn.

In the case of export of cash foreign currency in excess of the established amount by non-residents – prize-winners or participants in competitions, contests and olympiads organized in the Republic in the established order, the document confirming the legality of receiving cash foreign currency is the basis for exporting this foreign currency.

Import of foreign currency into the Republic of Uzbekistan by individuals is carried out without restrictions.