Uzbekistan's New Golden Visa

Starting June 1, 2025, Uzbekistan will introduce a significantly simplified procedure for granting five-year residence permits to foreign nationals and stateless persons. This initiative marks a substantial shift in the country’s approach to attracting international residents and investors, aiming to create a more welcoming environment for those looking to establish their lives and businesses in Uzbekistan.

The new residence permit option for foreigners has been added through Presidential Decree PF-67, which was signed by the President of Uzbekistan, Shavkat Mirziyoyev, on April 18, 2025. This decree is part of a broader strategy to boost business, improve trade and industry policies, and support exports, thereby enhancing the overall economic landscape of the nation. The government recognizes the importance of foreign investment and the role of expatriates in driving economic growth, which is why this new policy is being implemented, as reported by VisaGuide.World.

According to the decree signed last month, starting June 1, 2025, foreign nationals and stateless persons will be able to obtain a residence permit in Uzbekistan for five years through a streamlined process. The financial requirement for this permit includes a payment of $250,000, which serves as a significant investment in the country’s economy. Additionally, there is a fee of $150,000 for each family member, which includes spouses, children, and parents, making it a family-oriented initiative that encourages the relocation of entire households.

Former Foreign Minister of Uzbekistan, Vladimir Norov, highlighted this development in a post on his LinkedIn account, mentioning that since 2019, Uzbekistan has been providing citizens of 109 countries with a residence permit upon the purchase of real estate. This policy has attracted considerable interest from foreign investors, as reported by Astana Times.

At the time of the initial launch of the real estate-based residence permits, housing prices in Uzbekistan ranged from $100,000 to $400,000, with the highest prices being recorded in Tashkent and the surrounding Tashkent region. This pricing structure reflected the growing demand for property in urban areas as more foreigners sought to invest in the local real estate market.

In a move to further encourage foreign investment, in 2022, the President of Uzbekistan took decisive action to reduce the price of real estate in the capital city required for obtaining a residence permit, lowering it to $300,000. Moreover, international buyers were permitted to purchase real estate valued at $70,000 in regional areas and $150,000 in the capital without needing a residence permit. This approach not only made it easier for foreigners to invest but also stimulated the local economy by increasing property transactions.

Before the program officially opens on June 1, 2025, the Cabinet of Ministers and the Ministry of Internal Affairs are tasked with issuing an implementing resolution that will specify several critical details necessary for the successful rollout of the new residence permit system. These details are essential to ensure clarity and efficiency in the application process.

• Treasury and bank account number, which will facilitate the payment process and ensure transparency in financial transactions related to the residence permit fees.

• Final request form requirements and processing timeline, providing applicants with a clear understanding of what documentation is necessary and how long they can expect the processing to take.

• Renewal rules after the initial five-year period, ensuring that residents know how to maintain their status and what criteria they must meet for renewal.

• Anti-money laundering document requirements, which will help prevent illicit activities and ensure that the investment funds are legitimate.

• Clarification on whether time spent under this permit counts towards the five-year residence requirement for naturalization, which is a crucial consideration for those looking to eventually gain citizenship.

Golden Visa Programs, which offer residency to wealthy nationals in exchange for financial investments, are available in various countries around the world, each with its own specific requirements and benefits. These programs have gained popularity as they provide a pathway for affluent individuals to secure residency in countries that offer favorable living conditions, business opportunities, and quality of life.

The primary goal of countries offering these types of residency programs is to stimulate economic growth and attract foreign capital. However, it is important to note that these schemes are often scrutinized and criticized for their potential involvement in irregular affairs, including tax evasion, corruption, and money laundering. The balance between encouraging investment and ensuring ethical practices is a challenge that many nations face.

Despite the fact that the new program, which will officially start on June 1, does not explicitly use the term Golden Visa, it bears a striking resemblance to the Residency-by-Investment schemes offered in numerous countries worldwide. This similarity highlights Uzbekistan's commitment to aligning its policies with global trends in attracting foreign investors while also addressing the unique needs of its economy and society.