juris.hq
Starting a companyUpdated 30.08.2026

How does a foreign-owned company open a bank account in Uzbekistan?

Short answer

After registration, on the bank’s KYC — and the director attends in person.

The company exists first — the account follows state registration and the company’s identifiers
The bank runs KYC on the founders — ownership up to the individuals, the activity described precisely; a vague description is what slows this step
The director identifies in person — the one in-person step of the whole setup; the account then opens with the credentials to operate it
What the law provides

Uzbek banks onboard a foreign-owned company the way banks everywhere now do: they establish who ultimately owns it, what it will actually do, and who signs. The founders answer the KYC questionnaire, the activity description is checked against reality, and the director — whoever holds that role — passes identification at the branch in person. Shareholders who are not the director do not attend.

Two things buy speed. A precise activity description, because vagueness is what banks query; and clean source-of-funds answers for the capital contribution. The account, once open, is operated remotely through the bank-client credentials like anywhere else.

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Part of the answer bank 89 questions, each cited to the article it rests on.