Uzbekistan may start issuing citizenship for investment

Foreigners may be allowed to obtain citizenship of Uzbekistan in a simplified manner for investments in the amount of at least $1 million. Not only investors, but also well-known scientists, athletes, cultural and artistic figures will be able to apply for such an order.

The Ministry of Investments and Foreign Trade has developed amendments to the law on citizenship of Uzbekistan, they are put up for public discussion.

According to the bill, it is proposed to introduce a simplified procedure for granting citizenship to Uzbekistan for foreign citizens or stateless persons who have invested at least $1 million equivalent in investment projects in the country. Not only investors, but also well-known scientists, athletes, cultural and artistic figures from other countries will be able to apply for such an order.

The Central Securities Depository or the Public Services Agency will issue a certificate of investment. This document will be attached to the application for citizenship of Uzbekistan.

Now the simplified procedure applies only to compatriots who are citizens of a foreign state or stateless persons, if they have at least one relative in the direct ascending line living in the territory of Uzbekistan and who is a citizen of this country, have a legal source of livelihood, undertake to abide by the Constitution of the country and own state language to the extent necessary for communication.

The bill was developed on the basis of the order of the Presidential Administration dated March 10 and the government’s “road map” “on the creation of additional conditions for using the possibilities of the tourist network in the context of the looming international crisis.”

It is expected that the adoption of the amendments will increase the investment attractiveness of the country, increase the flow of foreign investors, draw the attention of the international business community to the investment environment of Uzbekistan and increase the country’s authority in the international arena.

The discussion of the document will last until November 23.