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Cash withdrawals from bank account

 

1     Currency Regime and Cash Restrictions

 

1.1  General Limitations.  Uzbek currency legislation strictly regulates cash withdrawals from representative office US dollar and Soum bank accounts for the office needs.  All settlements within Uzbekistan must be made in Soum, except very limited cases established by Uzbek currency law.  Settlements between businesses (legal entities and individual entrepreneurs) may be performed only through bank transfers, regardless of the type of business.  Petty cash may be withdrawn from bank accounts only for specified purposes, including the payment of wages or employees’ benefits and allowances for business trips.

 


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