Can the account be opened remotely?

For companies with Uzbek founders and for sole traders, banks may open accounts remotely. With foreign founders, the signatory usually signs at the bank in person or through a notarised power of attorney; IT Park residents are an exception.

How long does it take?

Banks open accounts quickly once the file is complete; with foreign founders their checks can take up to about two weeks. A complete file and a clear business description shorten it most.

Do I need a separate foreign-currency account?

If the company will pay or be paid in foreign currency, yes. Since 2017 the som is freely convertible for current payments: the bank converts at the market rate and checks each cross-border payment against the contract.

Which bank should I choose?

There is no single best bank. It depends on where the founders are from, what the business does and which services you need. We suggest two or three banks after the first conversation.

Can a sole trader open a business account?

Yes. A sole trader can open a business account in their own name; we help with the file in the same way.

Opening a business bank account in Uzbekistan

We prepare the file the bank asks for, go through its checks with you and set up the som and foreign-currency accounts — for new companies, companies with foreign founders and sole traders.

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4steps to a working account
3languages: English, Uzbek, Russian

What we set up

A som account
The bank's document file
A foreign-currency account
Online banking

A company cannot pay taxes, salaries or suppliers without a bank account. The account usually stalls not on the bank but on the file: a weak legal address, a vague business description, a missing document.

Who we help

New companies opening their first account
Companies with foreign founders or a foreign director
Sole traders who need a business account

How it works

From choosing the bank to the first payment — four steps.

1
Choosing the bank
Banks treat founders from different countries and different businesses differently. We tell you which banks to ask and what each will want.
2
The bank's file
We assemble the documents and write a short, clear description of the business: who pays you, what for, and whom you pay.
3
The bank's checks
The bank checks the founders, the beneficial owners and the director. Companies with Uzbek founders can often do this remotely; with foreign founders, the signatory usually signs at the bank in person.
4
Accounts and online banking
The som account, a foreign-currency account if you need one, and online banking linked to the company's EDS key.

Before you go to the bank

What the bank will ask for

Every bank keeps its own list, but the core is the same. The most common reasons an opening stalls are a mass-registration address or an unregistered lease, and a description of the business that does not say who the money comes from.

Founders' documents issued abroad need an apostille or legalisation and a notarised translation. Expect more questions about where the money comes from and who the beneficial owners are.

The usual file

Registration certificate and taxpayer number
The company's charter
Founders' and director's passports and PINFLs
Confirmation of the legal address
A short description of the business

Questions about business bank accounts

In practice, yes: taxes, salaries and payments between businesses go through the bank. A company that opens no account within three months of registration can also be treated as inactive.