Business accounts: Uzbekistan

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A business account in Uzbekistan is opened for a company registered in the country, including one with foreign participation. The national currency is the som, about UZS 11,775 per dollar in early October 2026. The bank checks the owners, the director and the source of funds and asks what the company will do in Uzbekistan.

Company tax in Uzbekistan

In 2026 Uzbek corporate income tax is 15% and VAT is 12%. From 1 June 2026 the turnover threshold above which a small business must switch to VAT and corporate income tax was raised from UZS 1 billion to UZS 5 billion, about $424,700 at the early October 2026 rate. The bank will ask which regime the company is on and how taxes will be paid, so we settle the regime before applying.

Who can open an account

A current account at an Uzbek bank is opened by a resident company: a local subsidiary or a joint venture of the foreign owner. A foreign company without registration in Uzbekistan generally cannot open an account at a local bank. Most banks ask the director to attend in person, especially if the owners are non-residents, and run enhanced checks on beneficial owners and the source of funds.

What to prepare for the bank

• the company's registration decision and its taxpayer electronic digital signature;
• proof of the local address: a lease or a utility bill;
• passports and appointment documents of the directors, beneficial ownership details and, for a foreign founder, proof of its registration;
• expected incoming and outgoing payments and counterparties in Uzbekistan and abroad.

What the bank will check

• the company's registration and registry extract, the list of directors and owners;
• passports and proof of address of directors and beneficial owners;
• what the company does and how the business is linked to the country;
• expected volumes, currencies and payment countries;
• source of funds documents for the owners.

How opening works

1. Profile review and choosing a bank in Uzbekistan.
2. The document file and business description tailored to the bank.
3. The bank's review, often with a video call or a director's visit.
4. Account opening and online banking setup.

What we do

Murblz specialists assess the chances before applying, choose a bank in Uzbekistan, prepare the documents and handle the correspondence with the bank until it decides. The quote is fixed in writing; the decision to open the account is always the bank's.

Who gets refused

A bank will refuse if the source of funds cannot be documented, if the client or their money is linked to sanctions restrictions, or if the purpose of the account does not match the expected payments. We check whether a case involving Russian citizens can proceed before any documents are prepared.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · Country taxes · All country programs

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