The President of Uzbekistan has signed a decree establishing the TIFC, which will be located in the Tashkent City business district. The Centre will operate under English common law and offer a range of privileges and benefits for resident companies.

Permitted Activities at TIFC

• Financial, investment and banking services
• Insurance
• Islamic and green finance
• Digital assets and cryptocurrencies
• Payment systems and services
• Fintech, audit, consulting and legal services

Key Objectives of TIFC

• Attracting investment: establishing a transparent and competitive legal environment, simplifying access to modern financial services
• Capital market development: integration with global exchanges, advancing securities trading and other market segments
• Financial services sector development: banking and insurance, Islamic finance, fintech, e-commerce, digital assets and cryptocurrencies
• Building an innovation ecosystem: developing financial, audit, consulting and legal services, and implementing international best practices in regulation

Tax Benefits at TIFC (until 2076)

1. Exemption from corporate income tax and social tax (except cryptocurrency exchanges)
2. Personal income tax for foreigners — 0%, for Uzbekistan residents — 7%
3. Exemption from VAT, land tax and property tax
4. Exemption from customs duties on goods imported for TIFC needs
5. Income from the sale of shares in TIFC resident companies will not be subject to taxation
6. Income from the sale of securities, dividends and coupons of companies listed on the Tashkent Stock Exchange will not be subject to taxation

Benefits for TIFC Participants

1. Hiring of foreign nationals without a work permit
2. Settlements in foreign currency and crypto assets
3. Visas for employees and their families through a special procedure for up to 5 years
4. Free repatriation of capital or income earned within the Centre without restrictions

Expected Impact of TIFC by 2030

1. Attracting $20–25 billion into the economy
2. Up to 1% additional GDP growth annually
3. Up to 15,000 new highly qualified jobs
4. Professional development for 10,000 specialists