Foreign investors to obtain residence permit when buying real estate in Uzbekistan
Baku, Azerbaijan, July 17
Foreign citizens and stateless persons who buy real estate in Uzbekistan for $200,000 or more will be able to obtain a residence permit in a simplified procedure, "Podrobnosti.uz" reported, referring to the draft decree of the head of state.
In addition, investors who acquire stock and shares of economic companies, and also create a foreign enterprise with an investment of not less than $200,000, will be able to receive a multiple entry visa for up to three years with the possibility of an unlimited number of renewals, without the need to leave the territory of Uzbekistan.
Another innovation is that the Ministry of Internal Affairs of Uzbekistan has been instructed to make proposals on implementation of the procedure for awarding the status of "Honorary Citizen" to foreign persons who make significant investments in priority areas of the country's economy.
The document also provides for the development of proposals for the making and implementation of the openness principle in all branches of the authorities and participation in the activities of the international organization "Open Government Partnership".
The Open Government Partnership is an international organization officially established on September 20, 2011 with the goal of establishing the ideals of an open state: the development of administrative professionalism which is open to civilian control.
Eight countries are involved in the creation of the organization: the United States, the UK, Brazil, Norway, Indonesia, Mexico, the Philippines, South Africa. The requirement for joining the organization is the adoption of the "Open Government" declaration. To date, over 70 states have done so.