Uzbekistan has approved a special legal procedure regulating the activities of investment platforms in the form of a “regulatory sandbox.”
This legal regime creates conditions for the launch and development of investment platforms that allow funds to be raised directly from investors, primarily for start-ups, as well as small and medium-sized businesses for which entering the stock market is difficult or premature.
The regulation establishes permissible formats for investing through electronic platforms, including investments in shares, participation in partnerships, venture and joint projects, as well as other project models. Unlike the traditional stock market, such investments do not involve the issuance and circulation of securities, listing, or the mandatory participation of investment intermediaries.
The document establishes the procedure for registering participants in the special legal regime, the conditions for their inclusion in the register of investment platform operators, and the grounds for exclusion from the list of participants.
Only legal entities that are residents of Uzbekistan and operate as investment platform operators can participate in the special legal regime.
An investment platform must be a comprehensive software, technical, and organizational mechanism that ensures:
The introduction and further expansion of investment platforms will help build a legal framework for boosting investment activity, which will give an extra boost to:
