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The document ceased to be valid since  September 1, 2020 according to the Resolution of Board of the Central bank of the Republic of Uzbekistan of August 29, 2020 No. 18/5

It is registered

Ministry of Justice

Republic of Uzbekistan

On October 22, 1998 No. 510

Approved by Board of the Central bank of the Republic of Uzbekistan on September 5, 1998 (the protocol No. 15), No. 231

(as amended on 16-02-2019)

Procedure for maintaining accounts of nonresidents by commercial banks in national currency of the Republic of Uzbekistan

1. General provisions

1.1. According to the Law of the Republic of Uzbekistan "About currency control" and article 40 of the Law of the Republic of Uzbekistan "About the Central bank of the Republic of Uzbekistan" the Central bank of the Republic of Uzbekistan establishes the following procedure for maintaining by commercial banks of the Republic of Uzbekistan for on-demand deposit accounts of nonresidents in national currency of the Republic of Uzbekistan. Opening of accounts to nonresidents is performed according to the procedure, established by the instruction of the Central bank "About the bank accounts opened in banks of the Republic of Uzbekistan". (In edition of the item of 1 appendix to the resolution registered by Ministry of Justice of RUZ N510-1 of 29.03.2004)

1.2. Accounts in national currency of the Republic of Uzbekistan are opened for legal entities and physical persons - nonresidents, and also the foreign banks which concluded the relevant agreements with commercial banks of the Republic of Uzbekistan.

2. Accounts of legal entities - nonresidents in national currency

2.1. Accounts in national currency of the Republic of Uzbekistan for nonresidents - legal entities open:

to the foreign diplomatic and other official missions which are in the Republic of Uzbekistan, the international organizations and their branches using immunity and diplomatic privileges and also the representative offices of the foreign organizations in the Republic of Uzbekistan which are not performing economic or other business activity;

participating on the open electronic tenderings of the commodity and raw exchanges;

performing purchase (sale) of shares of societies at the organized biddings;

performing activities in the Republic of Uzbekistan through permanent organization;

in other cases, stipulated by the legislation.

2.2. Into accounts of legal entities - nonresidents in national currency of the Republic of Uzbekistan can be enlisted:

- proceeds from sales of foreign currency in the domestic foreign exchange market of the Republic of Uzbekistan according to the procedure established by the legislation;

- the amounts of the consular fees and other amounts received in the territory of the Republic of Uzbekistan on legal causes;

- the amounts arriving from accounts of "ENT specialist" of foreign banks in commercial banks of the Republic of Uzbekistan from head enterprise abroad;

- the amounts arriving in the form of donations and financial aid;

dividends and other income from investing activities in the Republic of Uzbekistan of the legal entity - the nonresident who created representation;

- in other cases determined by the Central bank of the Republic of Uzbekistan.

2.3. Funds from accounts of nonresidents in national currency of the Republic of Uzbekistan according to the order of the account holder can be used for payment of current expenses on their content in the territory of the Republic of Uzbekistan (including lease payments; payments for municipal and other similar services; acquisition of inventory items for ensuring the current activities; payment of lease of communication channels; payment of transfer and cargo delivery, mailings and periodicals; salary payment and other employee benefits according to employment contracts; traveling expenses of workers; the translations of insurance premiums on obligatory and voluntary types of insurance; payment of treatment of workers in case of accidents and diseases), and also on other purposes according to the current legislation.

2.4. Cash from the account of the nonresident - the legal entity in national currency of the Republic of Uzbekistan can be received in the limits necessary for salary payment and other payments to workers for employment contracts, payments of traveling expenses of workers, and also on other purposes according to the procedure, established for legal entities - residents. The limit of cash desk of the nonresident is set by the serving commercial bank in coordination with the account holder. Representations and branches of the nonresident shall observe the procedure for conducting cash transactions established for residents of the Republic of Uzbekistan.

3. Accounts of physical persons - nonresidents in national currency

3.1. Accounts in national currency of the Republic of Uzbekistan of physical persons - nonresidents open for the foreign citizens who are temporarily in the Republic of Uzbekistan.

Into these accounts the acquired in exchange points for foreign currency according to the operating procedure and other amounts received in the territory of the Republic of Uzbekistan on legal causes can be enlisted means in national currency of the Republic of Uzbekistan, imported by it into the Republic of Uzbekistan, according to the procedure, established by the legislation.

3.2. Means in national currency of the Republic of Uzbekistan can be spent for payment of current expenses of physical nonresident person during its accommodation in the territory of the republic.

4. Correspondent accounts of "ENT specialist" of foreign banks in national currency

4.1. The foreign banks having the corresponding license for implementation of banking activity or carrying out foreign currency transactions can open correspondent accounts of "ENT specialist" in poison ivy in commercial banks of the Republic of Uzbekistan.

Commercial banks of the Republic of Uzbekistan open correspondent accounts in national currency of the Republic of Uzbekistan for foreign banks on the basis of the signed agreements on establishment of correspondence relations.

4.2. Servicing of correspondent accounts is performed by authorized banks independently, according to the procedure, provided by conditions of the agreements signed with foreign banks.

4.3. On correspondent accounts of foreign banks means in national currency of the Republic of Uzbekistan can be enlisted:

- received from sale of foreign currency through commercial banks of the Republic of Uzbekistan and at the Uzbek republican currency exchange;

- received according to import contracts to deliver goods or rendering services if conditions of contracts provide implementation of calculations in bags (at the same time the bank serving the importer - the resident of the Republic of Uzbekistan, in the payment document money transfer correspondent account of foreign bank is specified by purpose of payment with indication of number of the signed contract);

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