New rules for import, export of cash approved in Uzbekistan

Business Materials 2 February 2018 09:32 (UTC +04:00)
New rules for import, export of cash approved in Uzbekistan

Baku, Azerbaijan, Feb. 2

By Nigar Guliyeva – Trend:

The Cabinet of Ministers of Uzbekistan approved new rules for import and export of foreign currency cash by individuals through the customs border of Uzbekistan.

Since early 2018, only import and export of foreign currency in cash over $2,000 is subject to declaration and presentation to an employee of customs bodies.

Individuals allowed to freely export only currency equivalent to $5,000 (subject to the rules on declaration).

In case the amount is above this, residents are required to provide a permit from the Central Bank of Uzbekistan, in which the entire exported amount is indicated; non-residents need to fill in passenger customs declaration at the entrance to Uzbekistan. They can not take out more than they imported earlier.

These authorization documents are for one time use only.

For example, if the Central Bank's permission to export $10,000 is received, but the passenger has only 8,000 with him, he will not be able to export the remaining amount in the future.

Entrepreneurs are responsible for the accuracy of the information provided to the customs body in accordance with the law.

In January 2018, a new form of passenger customs declaration was approved.

The previous version of the document is ineffective because of inconsistency with the presidential decree "On measures to further simplify the order of import and export of cash foreign currency by individuals."

The document took effect from Feb. 1, 2018.