The Legislative Chamber of the Oliy Majlis of Uzbekistan has approved draft constitutional laws on the creation of the Tashkent International Financial Center (TIFC) and the Enterprise Uzbekistan IT zone. The documents have been sent to the Senate for consideration.
What happened
On June 2, 2026, the lower house of parliament approved the legal framework for two new international zones in Tashkent. According to Spot, the drafts define the hubs' status, management system, and special legal regime.
The documents enshrine the rights of the centers' participants and investment protection mechanisms. Launching the special status zones will require amendments to the Constitution of Uzbekistan.
Country and market
The main infrastructural innovation is the introduction of foreign legal norms, though they differ for each zone. The TIFC territory will apply the legal principles, legislation, and judicial precedents of England and Wales, provided they do not contradict the country's Constitution. The legal regime of Enterprise Uzbekistan will rely on elements of the common law of England and Wales and the standards of leading international financial centers.
An independent Tashkent International Commercial Court will be created to resolve disputes between TIFC participants. Financial supervision, licensing, and the application of enforcement measures will be handled by a separate entity—the Financial Services Authority.
TIFC residents will be granted the right to settle in foreign currency, receive tax and customs benefits, and issue special visas for foreign employees for up to five years. Participants in the Enterprise Uzbekistan IT zone will be exempt from taxes until 2100 and will benefit from simplified equipment imports.
Why it matters
The changes will affect Articles 15, 131, and 134 of the Constitution: they legalize the creation of specialized courts and the application of a special jurisdiction in specific territories while maintaining the country's unified legal space. The emergence of a legal framework that is understandable to foreign investors complements the general trend of improving country assessments. Previously, Finteqstan reported that Fitch raised its outlooks on local banks following Uzbekistan's sovereign rating upgrade.
The integration of an independent commercial court into the national judicial system will be the main challenge in the practical launch of the financial center.
What's next
The bills must be approved by the Senate. After approval by the upper house of parliament, the documents will be sent to the president for signature and will enter into force.