Uzbekistan plans to raise the threshold for exporting cash without declaring it.
Uzbekistan plans to allow the export of national and foreign currency in cash without completing a passenger customs declaration for amounts up to the equivalent of $10,000. Currently, this threshold is 100 million soums (approximately $8,453). The bill is expected to be ready by the end of 2027.
Uzbekistan plans to increase the limit on the export of foreign currency in cash without the requirement to complete a customs declaration to the equivalent of $10,000. This initiative is part of a presidential decree issued on August 27 aimed at improving the work of customs authorities.
The decree approves the "New Customs of Uzbekistan – 2030" strategy. This strategy proposes implementing a system under which declarations will only be required when a specified amount is exceeded.
The Customs Committee, together with the Ministry of Economy and Finance, the Central Bank, and the Ministry of Justice, has been tasked with drafting a corresponding bill and submitting it to the Cabinet of Ministers by December 2027.
Starting in September 2023, citizens of Uzbekistan can export cash in national or foreign currency worth up to 100 million soums without completing a passenger customs declaration. Previously, this limit was 70 million soums. According to the official exchange rate as of September 2, 100 million soums is equivalent to approximately $8,453. Amounts exceeding 100 million soums are subject to mandatory declaration, and the declaration must include the entire amount being exported, not just the excess amount.
Currently, the export of more than 100 million soums is permitted only in exceptional cases. For residents, this rule applies, in particular, to members of government delegations traveling abroad. Non-residents have the right to export the remainder of previously imported and declared currency. Separate rules apply to participants and winners of international competitions, contests, and olympiads.
Earlier, Central Bank Governor Timur Ishmetov stated that following the liberalization of the foreign exchange market and the transition to a more flexible exchange rate, the next stage of reforms would be the broader opening of the capital account. According to him, the plan is to provide investors with greater freedom while maintaining protective mechanisms.