Uzbekistan may start granting citizenship in a simplified manner for large investors. The corresponding bill was prepared by the MIFT.
It provides for amendments to the law “On Citizenship of the Republic of Uzbekistan”, which has been in force since 2020. Article 20, listing the grounds for the accelerated acquisition of citizenship, will be supplemented with the following paragraph:
“The simplified procedure for admission to the citizenship of Uzbekistan will apply to foreign citizens and stateless persons who have contributed capital in the equivalent of at least $1 million to investment projects implemented on the territory of Uzbekistan, as well as honored scientists, athletes, cultural and art workers.”
Investments in the amount of $1 million or more will need to be confirmed by a certificate from the Central Depository or from the Center for Public Services. It must be included in the package of documents for applying for citizenship.
The discussion of the project will last until November 23.
In 2019, Uzbekistan introduced “investment visas” for the founders of enterprises with foreign capital and their family members who made contributions in the amount equal to 8,500 BCAs (2.55 billion soums). In addition, for investments in the amount of $3 million or more, a residence permit is issued in a simplified manner.
Also, citizens of a number of countries received the right to a residence permit in Uzbekistan when buying real estate for a certain amount (in Tashkent and the Tashkent region - from $400,000, in other regions - from $100,000 to $200,000).
Since May, the bar for obtaining a residence permit when buying real estate in Tashkent has been reduced to $300,000.
