PRESIDENTIAL DECREE OF THE REPUBLIC OF UZBEKISTAN

of July 24, 2006 No. UP-3780

About privatization of the parcels of land occupied with buildings and constructions of legal entities and citizens

For the purpose of further expansion and increase in role of private property in economy, creating favorable conditions for business development and strengthening of legal guarantees of private entrepreneurship, ensuring target and effective use of the parcels of land occupied with the privatized companies and also creation of powerful incentives for market development of housing and mortgage:

1. Establish procedure according to which since January 1, 2007 legal resident persons of the Republic of Uzbekistan have the right to privatize the parcels of land on which the buildings and constructions, objects of production infrastructure belonging to them on the property rights or privatized by them, and also the parcels of land adjoining to them in the sizes necessary for implementation of productive activity, taking into account the applied engineering procedures, town-planning regulations and rules are located.

Privatization of the parcels of land provided in this Item is performed on voluntary basis proceeding from market value with registration of the property right according to the procedure, established by the legislation.

2. Determine that the parcels of land which are not privatized according to Item 1 of this Decree being in permanent use of legal resident persons of the Republic of Uzbekistan are subject till January 1, 2008 to renewal in long-term lease for a period of up to fifty years, but for thirty years at least.

The right of long-term lease to the parcel of land can be stopped or the area of the leasable parcel of land can be reduced before the expiration specified in the agreement, in the cases provided by the land legislation.

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