The Senate of Uzbekistan has approved the law establishing the Tashkent International Financial Centre (TIFC), a major step toward positioning the country as a regional financial hub and attracting international capital.
Under the new law, the TIFC will operate under a separate legal framework based on the principles of English law, provided they do not conflict with the Constitution of Uzbekistan. The centre will also establish its own financial services regulator and an international commercial court.
The legislation introduces several incentives for investors and businesses operating within the TIFC. Companies will be allowed to hire foreign professionals without obtaining work permits, while contractual settlements may be conducted in foreign currencies and crypto-assets. In addition, participants of the centre and their family members will be eligible for special visas valid for up to five years.
The law also provides long-term tax incentives through January 1, 2076. These include exemptions from corporate income tax, social tax, VAT on selected transactions, as well as land and property taxes. Foreign employees working within the TIFC will benefit from a 0% personal income tax rate, while Uzbek citizens and residents employed by the centre will pay a reduced rate of 7%.
The government’s objective is to transform Tashkent into a leading financial hub in Central Asia by attracting global investment, strengthening the capital market, and accelerating the development of fintech, Islamic finance, and digital asset industries.
If implemented effectively, the Tashkent International Financial Centre could become one of the region’s most significant platforms for international finance, innovation, and cross-border investment.
