President abolishes requirement to declare hard currency for up to US$2,000
President of Uzbekistan Shavkat Mirziyoyev signed a decree “On measures to further simplify the order of import and export of cash foreign currency by individuals”.
Uzbek leader abolished the procedure of issuing permission to export cash foreign currency by individuals from Uzbekistan by the commercial banks.
The document said that individuals can export cash currency from Uzbekistan for up to US$5,000 without any permissions.
If the cash volume exceeds US$5,000, residents of Uzbekistan should get permission of the Central Bank, while non-residents could export currency cash on the basis of the passenger customs declaration, submitted during the entry into Uzbekistan. At the same time, the sum should not exceed the volume of cash currency, indicated in customs declaration, submitted during entry to the country,
The document said that the winner or participants of competitions, contests and Olympiads, organized in Uzbekistan, can export cash currency over set limit, if they submit document, which will confirm legality of earned cash foreign currency.
Import of foreign currency into the Republic of Uzbekistan by individuals is carried out without any restrictions.