Great news: The limit for taking cash currency out of the country without a declaration is being increased to 10 thousand dollars
The procedure for crossing customs borders for citizens, entrepreneurs, and foreign tourists leaving the territory of the Republic of Uzbekistan is being significantly simplified. According to the President's new decree, the norm for taking out cash foreign currency without filling out a customs declaration is being increased from the current equivalent of 100 million soums to a full equivalent of 10,000 US dollars. When will this change come into effect, when will a declaration be required, and how has this indicator changed in previous years?
Below we will get acquainted with the details of this historic decision, the changes introduced into legislation, and its practical significance, which will further facilitate citizens' trips abroad.
1. Major relief at the border: A jump from 100 million soums to 10 thousand dollars
Another important step has been taken in our country to ensure financial freedom, liberalize currency policy, and eliminate excessive bureaucratic barriers in customs control processes.
According to the new procedure, when leaving Uzbekistan, individuals will be able to freely take out cash in the amount of up to 10,000 US dollars (or its equivalent in other currencies) through the "green channel" without filling out any customs declaration.
Main rule: A passenger will be required to fill out a customs declaration only if the cash amount exceeds the established limit of 10 thousand dollars.
This will put an end to the worries of thousands of our compatriots heading out for travel, medical treatment, or business trips regarding excessive paperwork and loss of time at border customs posts.
2. When will the law come into effect? The task assigned to the government
In accordance with the relevant decree signed by the President on August 27, a specific deadline was set for the full legal consolidation of this new mechanism.
Implementation deadline: By the end of the current year;
Task: A draft law providing for the establishment of the limit for taking out cash currency at 10 thousand dollars must be developed and submitted to the Cabinet of Ministers of the Republic of Uzbekistan.
After that, the draft law will be considered by the chambers of the Oliy Majlis and, upon official approval, will be fully put into practice.
3. Historical dynamics: The path from 2 thousand dollars to 10 thousand dollars
In Uzbekistan, the rules for taking out cash currency have been gradually relaxed in recent years based on the principles of openness and a free market. Looking at the evolutionary change of this indicator:
Period until September 1, 2020: Citizens and guests of Uzbekistan could only take out cash equivalent to 2,000 US dollars without a declaration. Any amount exceeding this was mandatory to declare.
From 2020 to the present: Starting from September 1, 2020, the limit was set at 100 million soums. Against the background of exchange rate fluctuations, this amount averaged around 7,500 – 8,000 dollars.
New stage: Now, the border is being clearly and firmly established at 10,000 US dollars, matching international standards.
4. Why is this reform important? Significance for tourists and business
In international customs and financial practice (including in the European Union and a number of developed countries), the amount of 10,000 dollars/euros is considered the standard limit without a declaration.
The introduction of this procedure in Uzbekistan:
Increases tourism attractiveness: Foreign guests will encounter uniform and understandable international-level norms regarding currency rules upon entering and leaving Uzbekistan.
Improves the business environment: It provides specialists and entrepreneurs going on short-term business trips abroad with great flexibility in taking out expenses in cash.
Cuts the risk of bureaucracy and corruption: The likelihood of checking citizens and creating artificial barriers at border crossing points is drastically reduced.
Conclusion and public reaction
Raising the limit for taking cash out of the territory of Uzbekistan without a declaration to 10 thousand dollars is being warmly welcomed by the public as another step towards liberalization in the country's financial and customs system. This measure not only ensures citizens' freedom, but also significantly strengthens our country's international financial image.
In your opinion, is the $10,000 limit without a declaration when going abroad sufficient, or should it be increased further? Do you think this change will save you from unnecessary hassles at the border? Leave your thoughts in the comments!
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