How to Invest in Uzbekistan

Uzbekistan — the largest economy in Central Asia with a population of over 35 million people. Here we explore how a resident of Uzbekistan can start investing in real shares of global companies.

Investment Situation in Uzbekistan

Until recently, Uzbeks had few investment options:

• Bank deposits in soms or dollars.
• Local stock market (RSE) — limited liquidity and choice of stocks.
• Foreign brokers — difficult to open an account, transfer money, proceed with verification.

Today, it is possible to invest through a licensed broker in neighboring Tajikistan with access to global exchanges.

How Access to NYSE and NASDAQ Works

A licensed Tajik broker provides direct access to the NYSE and NASDAQ exchanges. You can buy real shares of Apple, Microsoft, Tesla, and other companies. The shares are stored in a depository in your name.

Opening an Account for a Citizen of Uzbekistan

Step 1. Register through the broker's application or website. An Uzbek passport is required.

Step 2. KYC (identity verification). Usually takes from a few minutes to 1 business day.

Step 3. Fund the account. Available methods depend on the jurisdiction: international cards, transfers.

Step 4. Purchase your first stock or ETF.

What to Invest In

• US Stocks. NYSE and NASDAQ: Apple, Tesla, Google, Microsoft.
• ETFs. Exchange-traded funds on the S&P 500, Nasdaq 100 indices.
• Bonds. Fixed income securities.
• IPO and Pre-IPO. Shares of companies during and before going public.
• Bitcoin ETFs. A regulated security linked to Bitcoin.
• Halal Securities. For Muslim investors.

Minimum Investment Threshold

You can start with small amounts. Through fractional shares, you can buy even 0.01 of an expensive stock (for example, an Apple stock costs over $200, but you can purchase a fraction for $10).

Fees

• Stock purchase — 0.3% of the transaction amount.
• Stock sale — 0%.
• Account opening — free.
• Storage of securities in the depository — free.

Taxation

Investment income may be taxed in Uzbekistan. It is recommended to consult with a tax specialist. Usually, this is a tax on profit from the sale (the difference between the purchase and sale price).

Risks

• Market Risk. Stock prices may fall.
• Currency Risk. Stocks are in dollars, funding in a different currency.
• Geopolitical Risk. International relations may affect access.

Alternative — Local Market

The Republican Stock Exchange "Toshkent" (RSE) offers a limited choice of securities. For diversification, it makes sense to combine local and international investments.

What to Do Next

If you are ready to start investing from Uzbekistan:

1. Determine the amount and investment horizon.
2. Register with a licensed broker.
3. Complete verification.
4. Fund your account.
5. Buy your first security — an ETF or a large company's stock.

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💡 Try it: opening an account with a licensed broker in Tajikistan can be done in a few minutes. Funding starts from 100 somoni, no office visit required.

Advertisement. LLC "Exchange Broker", Ministry of Finance RT licenses №007/25, №008/25, №009/25, №010/25 as of 25.06.2025. Financial instruments carry risks. Profitability depends on the market value of assets. Not an individual investment recommendation. The material is for informational purposes only.