RESOLUTION OF THE PRESIDENT OF THE REPUBLIC OF UZBEKISTAN

of August 21, 2025 No. PP-255

About measures for regulation of the investing activities performed with use of modern information technologies

For the purpose of forming of the legal basis of implementation of investing activities in the country with use of modern information technologies, ensuring protection of the rights of investors by implementation of effective mechanisms of control in the field of, and also creations of additional opportunities in financing of business I decide:

I. Purposes

1. Determine main objective of adoption of this resolution legal regulation of more and more extending practice by attraction of financial resources of the population on investment projects, ensuring reliable protection of the rights and interests of citizens, and also implementation of transparent and effective mechanisms of implementation of investing activities with use of modern information technologies.

II. Alternative forms of investment attraction

2. Permit for the term of 1 October of 2025 till October 1, 2026 to use investment platforms in special legal regime "Regulatory sandbox" (further - special legal regime) in the following directions:

(a) in case of placement and implementation of securities;

(b) when financing venture and share funds;

(c) when contributing to partnerships in commendam.

3. Within special legal regime:

(a) the subjects of entrepreneurship who are the legal entity having the right to place projects on investment platforms, requiring investment attraction and also offers on participation in business activity by ownership of shares;

(b) investors have the right to perform investing activities by selection of the investment projects exposed on investment platforms and attachments in them of means, and also to get by means of it profit;

(c) project management, implemented by means of investment platforms, can be also performed through investment and managing companies.

4. Establish procedure according to which the investments brought by means of investment platform are confirmed by digital electronic certificates and are provided by means of investment platform on behalf of person attracting investments.

5. Establish for the operator of investment platforms (further - the operator of platform) the following requirements:

(a) to have the status of the legal entity - the resident;

(b) to be included in the special electronic register which is kept by authorized state body;

(c) to perform the activities according to the rules established by authorized state body;

(d) to keep the register of the agreements which are drawn up by means of investment platform.

6. Determine that persons attracting investments along with investment projects or offers shall place on investment platform:

(a) the conclusion of auditing organization about lack of signs of insolvency at persons attracting investments and also about observance of the tax and accounting legislation by them within last financial year;

(b) information on procedure for implementation of the investment project, participation in its management and return of investment, the information about what the enclosed investment, about property which the investor will own directly or indirectly by means of it, about the rights and obligations of the investor, and also about risks will go to.

7. Determine that:

(a) investments made by investors by means of investment platform are not subject to pledge and are not used in other purposes, and also not collected by operators of platform, the third parties and in their advantage, except as specified, performed on the basis of the judgment;

(b) attachment of investments by means of investment platforms is allowed to physical persons and legal entities, including nonresidents;

(c) the funds raised through investment platforms go only to the investment projects realized in the territory of the Republic of Uzbekistan;

(d) responsibility for return and investment profitability, brought by means of investment platforms, completely is assigned to person attracting investments;

(e) the investors who performed investing activities by means of investment platforms the legal entities and physical persons which received share or contribution have rights and obligations determined respectively in the laws of the Republic of Uzbekistan "About joint-stock companies and protection of shareholder rights" "About economic partnerships" and other acts of the legislation, and completely use legal remedies;

(g) determination, change and the termination of the rights and obligations of participants of investment platforms can be performed by means of "smart agreements" (smart contract).

8. Determine the National agency of perspective projects authorized state body by regulation in the field of activities of operators of platform and to implementation of allowing procedures.

9. National agency of perspective projects:

(a) determines procedures of issue of permission to activities of operators of platform and their functioning;

(b) keeps electronic registers of investment platforms and operators of platform;

(c) exercises control of activities of investment platforms and operators of platform.

10. Determine that:

(a) agreements on attachment of investments by means of investment platforms are constituted electronically and on the basis of the data received from investment platforms, the corresponding record in real time without additional documentation is entered in the Unified state register of subjects of entrepreneurship;

(b) changes and additions made to constituent documents of partnerships in commendam are subject to state registration within three months from the date of entering into the Unified state register of subjects of entrepreneurship of the corresponding record on the basis of information on investment platforms on change of list of shareholders or investors.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info