November 9, 2022
Acquisition of real estate by foreigners in Uzbekistan
2. General requirements for the acquisition of real estate by non-residents
3. Special procedure for the acquisition of real estate by non-residents
4. The procedure for the acquisition of real estate
5. Acquisition of real estate by foreign companies
- Civil Code of the Republic of Uzbekistan;
- Law of the Republic of Uzbekistan No. 152-XII of October 31, 1990 “On property in the Republic of Uzbekistan”;
- Decree of the President of the Republic of Uzbekistan dated 5 January 2019 No. UP-5611 “On additional measures to accelerate the development of tourism in the Republic of Uzbekistan”;
- Decree of the President of the Republic of Uzbekistan dated 8 April 2022 No. UP-101 “On the foregoing reforms to create conditions for stable economic growth by improving the business environment and private sector development”;
- Resolution of the Cabinet of Ministers of the Republic of Uzbekistan No. 384 dated 13 July 2022 “On approval of the list of foreign countries whose citizens have the right to Purchase New Real estate objects under construction in the Republic of Uzbekistan”;
- Appendix No. 1 to the RCM of the Republic of Uzbekistan dated 27 February 2017 No. 106 “Regulations on the procedure for notarization of transactions of purchase and sale, exchange and donation of immovable property using interdepartmental electronic interaction”;
- Appendix No. 1 to the RCM of the Republic of Uzbekistan dated 18 November 2020 No. 726 “Administrative Regulations for certification by notaries of transactions on alienation of immovable property”.
2. General requirements for the acquisition of real estate by non-residents
To purchase real estate by a foreigner in Tashkent, it is required:
– have a residence permit in the Republic of Uzbekistan or an ID card;
– have permanent registration in Tashkent (in accordance with Annex 3 of the RCM dated 28 September 2020);
– permanently reside (be employed) on the territory of Tashkent for at least 3 years
– have a residence permit in the Republic of Uzbekistan or an ID card;
– have permanent registration in Tashkent or the Tashkent region (in accordance with Annex 3 of the RCM dated 28 September 2020);
– permanently reside (be employed) on the territory of Tashkent or the Tashkent region for at least 3 years
At the same time, a foreigner has the right to purchase in Tashkent or the Tashkent region only real estate in new buildings, the value of which at the date of conclusion of the contract is at least 3,300 BCV (about 89,000 US dollars), with payment through a bank.
3. Special procedure for the acquisition of real estate by non-residents
A residence permit for the acquisition of real estate by non-residents is not required in the following cases:
- If the non-resident is a citizen of the country specified in Annex No. 6 to the Decree of the President of the Republic of Uzbekistan dated 5 January 2019 No. UP-5611, provided that the property is purchased in:
- The Tashkent region and the city of Tashkent in the amount – in the equivalent of at least 400,000 US dollars; (however, this amount has been reduced to 300,000 US dollars)
- Samarkand, Bukhara, Namangan, Andijan, Ferghana and Khorezm regions – in the equivalent of at least 200,000 US dollars;
- To the Republic of Karakalpakstan and other regions of the Republic – in the equivalent of at least 100,000 US dollars.
At the same time, such a purchase is the basis for obtaining a residence permit in Uzbekistan.
- If a non-resident is a citizen of the country specified in Appendix No. 1 to the RCM of the Republic of Uzbekistan dated July 13, 2022 No. 384, invests in the form of acquisition of new buildings (except land plots):
- in the Tashkent region, the cities of Tashkent and Samarkand – real estate objects, the value of which, in accordance with contracts concluded during the construction period, is at least the equivalent of 150,000 US dollars, real estate objects taken into operation, worth at least the equivalent of 180,000 US dollars;
- in other regions – real estate objects, the value of which, in accordance with contracts concluded during the construction period, is at least the equivalent of 70,000 US dollars, real estate objects taken into operation, worth at least the equivalent of 85,000 US dollars.
However, such a purchase will not be the basis for obtaining permanent registration and a residence permit in the Republic of Uzbekistan.
With such an acquisition of real estate, mutual settlements are carried out in cashless form, by bank transfers.
III. If a non-resident has an IT Visa, he and his family members have the right to buy real estate (without minimum cost thresholds).
4. The procedure for the acquisition of real estate
To purchase real estate by purchasing it, the following actions shall be done:
- Conclude a contract for the purchase and sale of real estate;
- Notarize the contract of sale of real estate;
- Draw up an act of acceptance and transfer of a real estate object;
- To carry out the state registration of the purchase and sale of real estate.
It is important to note here that in case of alienation of a part of a real estate object or the presence of changes in it (reconstruction, additional and separate construction), the state registration of the object is carried out after registration of the cadastral passport.
At the same time, according to the changes in the legislation in 2017, in fact, all of the above actions can be done through a notary using the automated information system the “Notary”, which allows notaries to check all debts on the property being sold, as well as send all data to the Cadastre Agency after the transaction is certified. After that, the buyer only has to pay the state fee for the state and registration of real estate. Within 2-3 days (in case of purchase of residential premises), a document confirming ownership (an extract on state registration of rights to a real estate object) will be prepared, and the buyer can take it from any notary.
5. Acquisition of real estate by foreign companies
Unfortunately, the legislation of Uzbekistan does not directly regulate the issue of buying real estate by foreign companies. However, according to the general provisions, the law provides for the acquisition of ownership rights by foreign companies (Article 4 of the Law of the Republic of Uzbekistan “On Property”, Article 2, 168 of the Civil Code of the Republic of Uzbekistan).