The 60-second version
Uzbek brokerage exit needs sell TSE holdings, Soliq tax summary, depot termination letter, and USD SWIFT to NRE before India tax residency.
Sell TSE holdings before UZS wire — Soliq tax summary first
Uzbekistan taxes capital gains on securities disposals — obtain broker annual summary from Soliq portal before closing depot.
Kapitalbank, Uzpromstroybank, and Freedom Finance serve retail custody — TSE liquidity has improved since market reforms.
Kazakh neighbour: Kazakh brokerage guide if parallel Almaty depot.
Uzbek brokerage wind-down
| Broker | Tax doc | Step |
|---|---|---|
| Kapitalbank | CG stmt | Sell + close |
| Freedom Finance | Annual cert | Zero holdings |
| TSE | Local stocks | Plan liquidity |
| Linked bank | UZS/USD | Close after depot |
Closure
Sell
Liquidate TSE holdings.
Soliq tax
CG if required.
Convert UZS
USD before SWIFT.
Close depot
Termination letter.
Schedule FA
Last FY foreign asset.
Flow
Uzbek brokerage kit
- Trade confirms.
- Tax summary.
- Closure letter.
- SWIFT.
- Passport copy.
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USD accounts
Many brokers now settle in USD — wire USD to NRE without UZS conversion if available.
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Schedule FA?
Declare account in last FY you held foreign brokerage.
DTAA?
India-Uzbekistan DTAA may reduce double tax — Form 67.
Kazakh parallel?
Kazakh brokerage guide for Almaty depot.
US person?
FBAR + Form 8938 if thresholds met.
Linked bank?
Close UZS account only after depot zero and SWIFT confirmed.
Reform market?
TSE liquidity improved — still plan exit 60+ days early.
Your NRE account redesignation has a deadline.
Banks don't remind you. You need the right account stack before salary, rent, and EMIs start moving. Get the exact sequence.