Тhe Chamber of Commerce and Industry organized an expert council to discuss the draft law "On realtor activity."

Today, on December 5, 2017, the Chamber of Commerce and Industry organized an expert council to discuss the draft law "On realtor activity." Representatives of the State Committee on Competition, the Ministry of Justice, the Ministry of Economy, the Ministry for the Development of Information Technologies and Communications, the State Tax Committee, the Department for Combating Tax Foreign Exchange Crimes and Legalization of Criminal Incomes under the Prosecutor General's Office, LLC “REAL-INFO", LLC " MALOXAT-GULZORI "

On expert council the representatives of the public and private sectors discussed the content of the Law "On Realtor Activity". The main issues discussed were the following:

- a radical review of the activities of real estate companies,

- transfer of licensing from authorized bodies to local authorities,

- prolongation of benefits for real estate companies,

- elimination of the black market of brokers,

- creating conditions for equal competition for all real estate companies,

- removal of barriers at the initial stage of entering the realtors' market.

In particular, Alisher Niyazov, secretary of the Supervisory Board of the Realtors’ Association, expressed his opinion about real situation in the realtors' market: "Nowadays, only registered real estate organizations account for 10% of real estate transactions, while the remaining 90% of income goes to the black market. Considering that the annual turnover in the real estate market only in Tashkent amounts about $ 3.5 billion, it can be concluded that the state budget is losing huge tax payments from real estate purchase and sale transactions. In these circumstances, it is necessary to stimulate the activities of existing real estate organizations and develop effective mechanisms for inspections and raids of realtors who deal with the purchase and sale of real estate illegally”

Representatives of ministries also noted that stimulating and supporting the activities of real estate organizations are necessary. For this aim we should reduce the cost of the charter capital from 500 minimum wages by 250.

Executive Director of the Association of Realtors' Organizations, Aliyev Abdumalik Alievich paid the attention of the expert council members to a small number of real estate companies in the regions. For example, in Samarkand - 10, in Bukhara - 4, and in Khorezm there is no registered real estate company.

At the end of the expert council, members on the ground examined the opinions, recommendations, and proposals for resolving existing problems in this area.