Uzbekistan IT Park residents billing foreign clients: incentives and receiving payment

Tashkent's IT Park has grown quickly by offering residents reduced taxes and simpler rules for exporting IT services. Residents sell to clients in the US, Europe and the Gulf. Their dollars still arrive through Uzbek banks, under export contract and repatriation rules.

Rashidatou K.Payments editor

Published: 23 October 2026
Reading time: 1 min read

A Tashkent software company, an IT Park resident, builds systems for a logistics firm in Chicago and a retailer in Berlin. Its income from that work is taxed under the park's reduced regime. Its contracts are recorded in Uzbekistan's foreign trade system, and each payment arrives at its Uzbek bank in dollars or euros.

IT Park

IT Park Uzbekistan is the government's technology park and incentive regime. Residents carrying out qualifying IT activities receive reduced taxes, including exemptions from several taxes on qualifying income and a reduced personal income tax rate for employees. Residency can be held without a physical office in the park in many cases.

Exports

Many residents sell mostly abroad. They invoice foreign clients in dollars or euros, with export treatment for VAT where it applies. Foreign trade contracts are recorded in the electronic information system for foreign trade operations, which tracks payments against the contract.

Currency

Uzbekistan liberalised its currency market in 2017. Companies can hold foreign currency accounts and convert at market rates through banks. Export proceeds must still be received within the repatriation period set by law and the contract.

Faster payments

US and European clients sending wires to Uzbek banks go through correspondent banks, which can add days. Agree who pays charges, and send invoice numbers with each payment request.

Where Rivet fits

Rivet opens business accounts for registered companies after verification. Uzbekistan-registered companies must receive export proceeds in Uzbekistan within the repatriation period, so check with your bank before receiving funds abroad. Rivet is not a bank; regulated partner institutions hold the funds.

Questions people ask

What incentives do IT Park residents get?

Reduced taxes on income from qualifying IT activities, including exemptions from several taxes and a reduced personal income tax rate for employees, under the park's rules. Check the current regime with IT Park.

Can Uzbek companies hold dollars?

Yes. Since the 2017 currency liberalisation, companies can hold foreign currency accounts at Uzbek banks and convert at market rates.

Do export contracts need registration?

Foreign trade contracts are recorded in Uzbekistan's electronic information system for foreign trade operations, which tracks payments and deliveries.

Is there a repatriation deadline?

Yes. Export proceeds must be received within the period set by law and the contract. Ask your bank for the current rule.

Sources

Written by

Rashidatou K.

Payments editor

Rashidatou writes Rivet's guides to how money moves between countries: the payment rails, what each one costs, and the account details a company needs to get paid in another currency. Every figure in Rashidatou's articles is traced to the scheme rulebook, the regulator or the provider's published price list, and those sources are listed at the end.