Foreigners can get 10-year residence permit in Uzbekistan for investment of 3 mln USD

Source: Xinhua| 2019-10-16 02:29:43|Editor: Mu Xuequan
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TASHKENT, Oct. 15 (Xinhua) -- Uzbekistan has amended some government regulations to allow a foreign citizen who invests 3 million U.S. dollars in Uzbek economy to get a 10-year residence permit, the country's Justice Ministry said Tuesday.

Previously, the residence permit for foreign investors was issued for 5 years, the ministry said.

Foreign investors and their families will also be provided with a number of benefits. Studying at university, they have the right to receive scholarships and postgraduate education on the same conditions as citizens of Uzbekistan, according to the new regulations.

Last month Uzbekistan introduced a three-year investor visa for foreigners and stateless people if they invest a minimum of 183,000 U.S. dollars in the country's economy.

The new measure is part of the Uzbek government's efforts to attract foreign investment and make the country attractive for tourists.

Uzbekistan has been carrying out economic reforms in the last two years to attract foreign investment. President Shavkat Mirziyoyev has tasked the government with increasing the volume of foreign direct investment up to 4.2 billion dollars in 2019.