Currency Control and Export Proceeds Repatriation in Uzbekistan: What Every Exporter Must Know

As of October 2026, currency control of foreign trade in Uzbekistan comes down to two duties of the resident: to file data on its contracts and invoices with non-residents in the E-Kontrakt system before operations begin, and to bring the proceeds or the goods back, as a rule within 180 days. If the assets are still not back 45 days after that deadline (90 days for small businesses), a court, on the tax authority's claim, imposes a fine under Art. 11¹ of the Law on Currency Regulation: 5% of the unreturned amount, rising to 50% if the delay drags on. There is no registration of the contract at a bank and no value threshold, and the mandatory sale of foreign-currency proceeds has been abolished since 5 September 2017.

In short

• The system. The resident itself files data on deals with non-residents in E-Kontrakt (contract.customs.uz): contracts and invoices before operations begin, acts for services by the 20th of the following month. There is no value threshold and no deal passport. The bank does not register the contract: it compares the system data with the contract and enters the movement of funds.
• Deadlines. 180 days: for prepaid imports from the day of payment, for exports of goods from clearance into the export regime, for works and services from the signing of the acceptance act; 365 days for a non-resident's advance and for import payments made after the goods arrive. A date written in the contract does not change the deadline.
• Fine. Under Art. 11¹ of ZRU-573, if the assets are still not back 45 days after the deadline (90 for small businesses): 5% of the unreturned amount, a further 10% after day 360 and a further 35% after day 545; imposed by a court on the tax authority's claim. Officials are liable separately: 8–12 BRV under Art. 171 of the Administrative Code.
• Proceeds. They do not have to be sold and no transit account is required, but as a general rule they cannot be left abroad.
• Grounds. Force majeure confirmed by the authority of the country where it occurred extends the deadline; arbitration with the buyer, restructuring and an "extension" by the bank are not grounds.

How the control works

Foreign trade is controlled through the E-Kontrakt system of the Customs Committee under Cabinet of Ministers Resolution No. 283 and the Regulation on monitoring foreign trade operations (an annex to the resolution, the "Regulation"). The resident files contracts and invoices before operations begin, supplementary agreements in the same way as contracts, and acts for works and services by the 20th of the following month; the system assigns an identification number (paras. 5 and 6 and Annexes 1 and 2 of the Regulation). On a prepayment, a letter of credit or an incoming advance, the bank compares the system data with the contract, enters the movement of funds and carries out the operation if there are no discrepancies (para. 11 and Annex 3). Customs compares the contract and invoice with the declaration (para. 14), and the tax authority sees the unreceived proceeds and sends a demand to pay a fine (paras. 28 and 35).

All contracts, invoices and acts with non-residents are filed: there is no value threshold and no deal passport. The exceptions are self-employed persons, online exports of up to USD 5,000 under postal rules (para. 17) and IT Park residents' software subscriptions under a public offer (para. 16²). From 1 September 2026, Decree UP-174 abolished the ban on prepaying imports under an invoice and the mandatory 50% advance for exports under an invoice. The filing procedure is covered in our article on E-Kontrakt in 2026, and the contract requirements in the article on the foreign trade contract.

Where the proceeds go

Settlements go only through the company's account at an Uzbek bank unless the law provides otherwise (para. 16 of the Regulation). Foreign currency received by a resident legal entity must be credited to its accounts at Uzbek banks (para. 6 of the Currency Operations Rules, registered No. 3281), while a legal entity may use accounts abroad only under decisions of the President or the Government or under international treaties (Art. 12 of the Law). The law gives no general right to leave part of the proceeds abroad "for expenses"; exceptions are stated expressly, for example payment for advertising on foreign social networks by corporate card up to USD 5,000 a month (para. 16).

There is no need to sell the proceeds: mandatory sale was abolished by Decree UP-5177 from 5 September 2017 (explanation of the Central Bank), and the company may use the proceeds to pay for imports or sell them through a bank at its own discretion. The Currency Operations Rules do not require a transit account.

Repatriation deadlines: 180 and 365 days

Repatriation means receiving money or goods (works or services performed), setting off a counterclaim, replacing the obligation with another one between the same persons, or an insurance payment (Art. 11 of the Law). The duty lies with the resident.

The deadlines are set by the Regulation, not by the contract: a payment delay granted to the buyer does not extend them. Art. 11 of the Law also speaks of 180 days "from the date the non-resident's obligation arose", but that date only decides whether the operation counts as a capital movement; it is not the start of the period for the fine.

The fine under Art. 11¹ of ZRU-573

The fine is paid by residents that did not repatriate assets for more than 45 days (small businesses: 90 days) after the 180 days from the date of payment or export have expired; the periods are counted under paras. 23, 24 and 24¹ of the Regulation (para. 27).

The tax authority sends a demand (by registered mail it is deemed received after five days, through the taxpayer's personal account on the next working day); the fine is stated in sums at the Central Bank rate on the date of dispatch. Within 10 days of receipt the company must report that the debt has been cleared or that the fine has been paid voluntarily (para. 28). Otherwise the tax authority goes to court, the court imposes the fine, and it is collected as a tax debt.

What exempts from the fine and what does not

Art. 11¹ and the Regulation name these cases:

• Force majeure extends the deadline for as long as it lasts; it is confirmed by the competent authority of the country where it occurred, not by a certificate or a letter from the foreign buyer (Art. 11¹; para. 25).
• An insurance payout under an export contract insurance policy reduces the debt.
• Supply of equipment under imports with a delivery term of over 180 days, for that period; destruction or confiscation of spoiled goods, on a document of the competent authority; projects under decisions of the President and the Government and production sharing agreements, if the contract deadlines are met.
• Minor export arrears: total overdue amounts of up to 10% of foreign-currency proceeds over the previous 36 months.
• Money that came back before the court decides the fine case: no fine is imposed on that amount.

These are not grounds: a dispute or arbitration with the buyer (a claim helps to recover the money but does not stop the clock); restructuring of the debt, including "with the bank's consent"; a request to the bank to extend the deadline, because the bank cannot change a deadline set by the law and the Regulation; a supplementary agreement deferring payment, especially one backdated: the period runs from the payment, the export or the act.

If the buyer does not pay

• Keep a calendar from the correct date (payment, export clearance, act): 180 days plus 45 (small businesses: plus 90). Keep the declarations, acts, payment orders, bank statements and documents supporting any ground for exemption.
• Work with the debtor on paper: a claim letter, negotiations, a lawsuit if needed. Notifying the bank neither extends the deadline nor cancels the fine: it accrues when the periods expire in any case.
• Close the debt in lawful ways: set-off, replacement of the obligation, an insurance payout, or assignment of the claim to another resident, to whom the repatriation duty then passes (Art. 11).
• A fine paid voluntarily within the 10-day period is refunded in proportion to the assets repatriated within 90 days; if the assets are repatriated in full within 90 days after the court decision takes effect, the fine is returned and the case is closed (Art. 11¹). For this case para. 28 of the Regulation says something different, 120 days and 75% of the fine, so clarify the refund procedure before paying. A fine above 20% of the company's current assets can be paid in instalments over six months.

Overdue receivables and the export restriction (PP-3351)

Under para. 1(b) of PP-3351, exports without prepayment, a letter of credit, a bank guarantee or an insurance policy are possible only if the company has no overdue receivables on its earlier exports (companies with a sustainability rating of "BB" or higher are exempt). With arrears, the company can export only against prepayment, a letter of credit, the buyer's bank guarantee or an export contract insurance policy.

Liability of officials

The company pays the Art. 11¹ fine; officials are liable separately:

• Under part 1 of Art. 171 of the Administrative Code, late or incomplete transfer (without intent to conceal) of foreign currency to accounts at Uzbek banks is fined at 8–12 BRV on officials (UZS 3,520,000–5,280,000), and at 12–15 BRV for a repeat within a year (UZS 5,280,000–6,600,000). The BRV is UZS 440,000 from 1 September 2026 (Decree UP-115).
• Art. 178 of the Criminal Code covers intentional concealment of foreign currency that must be credited to accounts at Uzbek banks by persons who carry out currency operations at an organisation; there is no amount threshold. Part 1 carries a fine of 75–100 BRV (UZS 33–44 million), deprivation of a right for 3–5 years, restriction of liberty for 2–5 years or imprisonment of up to 5 years. A first offender is released from liability if, within 30 days of discovery, he or she voluntarily has the currency credited (part 4). The article speaks of concealment, not of late settlements as such.

Typical mistakes

• Counting 180 days from a date in the contract rather than from the payment, export clearance or act.
• Forgetting a prepayment on imports: if the goods are not cleared within 180 days, the fine is the same.
• Not filing supplementary agreements and acts for services: the bank and customs compare them with payments and declarations.

How Pactum helps

Pactum is a law firm in Tashkent (PACTUM-AI CA LLC). We review contracts and supplementary agreements, prepare the data for E-Kontrakt, keep the deadline calendar, and prepare the claim to the buyer and the reply to the tax authority's demand; in court, the client is represented by an advocate of our partner bureau under a separate agreement. Indicative prices: foreign trade contract from UZS 4,000,000, contract review from UZS 2,000,000, consultation UZS 300,000 for 60 minutes; the final price is set in a written proposal, and state fees and third-party costs are extra.

More on the page foreign trade, customs and currency control. Book online, call +998 99 050 50 70, write on Telegram or email info@pactum.uz. Office: 21 Afrosiyob Street, Tashkent.

FAQ

What is the repatriation deadline for export proceeds in Uzbekistan?

Usually 180 days: for exports of goods from clearance into the "export" regime, for works and services from the signing of the act, for prepaid imports from the day of payment. For a non-resident's advance and for import payments made after the goods arrive, the deadline is 365 days (paras. 23, 24 and 29 of the Regulation).

What is the fine for not repatriating export proceeds?

If the assets are still not back 45 days after the deadline (90 for small businesses), the fine is 5% of the unreturned amount, a further 10% after day 360 and a further 35% after day 545 (Art. 11¹). Officials are liable separately: 8–12 BRV under Art. 171 of the Administrative Code.

Does a contract have to be registered at a bank?

No. The resident files the contract and invoice in E-Kontrakt itself, with an electronic signature, before operations begin; there is no value threshold and no deal passport. The bank does not register the contract: it compares the system data with it and enters the movement of funds.

Do I have to sell the proceeds or open a transit account?

No: mandatory sale was abolished on 5 September 2017, and the Currency Operations Rules do not require a transit account. The proceeds are credited to the company's foreign-currency account at an Uzbek bank; as a general rule they cannot be left abroad.

Can the repatriation deadline be extended?

No: the bank cannot change the deadline, and arbitration, restructuring and the bank's consent are not grounds. The deadline is extended for the duration of force majeure confirmed by the authority of the country where it occurred; the other cases are listed in Art. 11¹.

Is there criminal liability?

Art. 178 of the Criminal Code covers intentional concealment of currency that must be credited to Uzbek banks; there is no amount threshold. A first offender is released if, within 30 days of discovery, he or she has the currency credited.

Sources

• Law on Currency Regulation (ZRU-573), Arts. 11, 11¹, 12
• Cabinet of Ministers Resolution No. 283 of 14.05.2020 and the Regulation
• Currency Operations Rules (registered No. 3281), para. 6
• Decree UP-5177 of 02.09.2017: Central Bank explanation of the end of mandatory sale
• Decree UP-174 of 27.08.2026
• PP-3351 of 03.11.2017, para. 1(b)
• Code of Administrative Liability, Art. 171
• Criminal Code, Art. 178
• Decree UP-115 of 23.06.2026 (BRV)

The information is current as of October 2026 and is not individual legal advice.