Transparent and share-based investment in real estate

Envast is a real estate share-based investment platform in Uzbekistan. Each project is established as a separate Limited Partnership (LP) and is officially registered in accordance with the laws of the Republic of Uzbekistan.

Even if you cannot afford to purchase a large real estate asset on your own, you can invest alongside other investors by purchasing project shares and receive dividends proportional to your ownership stake when the project generates profit.

Benefits of Envast:

• Low entry threshold — starting from 12 million UZS ;
• Transparent reporting — all income and expenses are clearly displayed in the mobile application;
• Experienced team — responsible for project selection, management, and execution;
• Diversification — opportunity to participate in multiple projects;
• Official legal structure — each project is registered in accordance with Uzbek legislation.
  

⚠️ Important: All investments involve risk. If a project does not perform as expected, you may lose part or all of your invested capital. For more information, please refer to “What are the risks of investing?”

Investing through Envast consists of 4 simple steps:

1. Sign Up  — download the Envast mobile app and verify your identity via MyID;
2. Choose a Project — select a suitable investment project from the "Projects" section;
3. Join an Active Funding Round  — a funding round is the stage where the project raises capital from investors. Enter your investment amount, and the system will automatically calculate your ownership percentage based on the share of the charter capital;
4. Make the Payment — complete the payment using the provided bank details.

👉 After completing these 4 steps, you will receive an Investor Certificate — once the funding round is completed, the official certificate is issued on behalf of the Limited Partnership and stored in the documents section of the mobile app.

Afterwards, whenever the project generates income, dividends are distributed in proportion to your ownership share, and all investment reports are available through the mobile application.

The minimum investment amount is set individually for each project and depends on the project’s charter capital and round conditions.

Typically, the minimum investment starts from 12 million UZS, however in some projects this amount may be higher.

📱 To see the exact amount: open the project page in the mobile app — the minimum investment for the current funding round is displayed there.

When a project generates profit, it is distributed periodically among investors according to their share. If the project does not generate profit, no distribution is made during that period.

Profit distribution process:

1. The project receives income from sales or rental revenue;
2. All expenses, taxes, and charitable allocations are deducted;
3. The remaining net profit is distributed according to the procedure defined in the charter;
4. Dividends are calculated based on your ownership percentage;
5. Dividends are transferred to your registered bank card or bank account;
   

The distribution period is set individually for each project and may vary depending on project conditions. You will receive a notification in the mobile app after each distribution.

There are options for exiting your investment, but the process is not as immediate as withdrawing money from a bank account. Real estate investment is a long-term commitment, so the exit process depends on market conditions and the availability of a buyer.

Options for recovering your investment:

• Sell your share to another investor — you may sell your ownership share to another investor through a formal agreement. You determine the price, but finding a buyer may take time and is not guaranteed.
• Project completion — when the project is fully completed (the property is sold or the agreement term expires), the invested funds and accumulated profits are distributed among investors.
• Exit request — in certain exceptional circumstances (for example, a serious illness), you may submit an Exit Request through the mobile application. Each request is reviewed individually and is subject to the terms set out in the project charter.
  

⚠️ Note: Exit terms and timelines depend on the charter and contractual conditions of each project. Please review all project documents carefully before investing. Liquidity (the ability to quickly recover your funds) is not guaranteed.

At Envast, investment payments are made through official banking channels:

• 💳 Bank transfer — to the official account of the Limited Partnership (primary method)
• 📲 Online payment systems — processed via the mobile application

If the payment is made via bank transfer, please keep the receipt and upload it in the mobile app under “My Shares” → “Pending”, open your project and click “Upload Receipt”. For payments made through online payment systems, receipt upload is not required — the Envast system automatically confirms the payment.

📋 Important: Only payments made from your personal bank card or bank account are accepted. Payments made from third-party accounts will be returned to the sender in accordance with banking regulations.

Yes, but you are not required to calculate or pay them yourself — corporate-level profit tax is automatically withheld by the Limited Partnership.

Before profit distribution, corporate income tax is paid from the partnership’s funds (the rate is determined by the Tax Code of the Republic of Uzbekistan). After tax deduction, the remaining net profit is distributed between investors and the general partner according to the charter.

You receive the amount after tax has been deducted. A statement of dividends received and taxes withheld during the year can be downloaded from the mobile app at the end of the year.

📋 Note: Corporate profit tax is handled by Envast. Any personal tax obligations of the investor (if applicable) must be fulfilled independently in accordance with applicable laws — consultation with a tax advisor is recommended if needed.

A Limited Partnership (KSh) is a business structure defined under the legislation of Uzbekistan, consisting of two types of members: general partners and limited partners (investors).

🟢 General Partners:

• Manage the partnership and make all decisions;
• Bear full liability for the partnership’s obligations with their personal assets;
• In the Envast platform — represented by the Envast team as the managing general partner side (defined in each project charter).

🔵 Limited Partners (You):

• Contribute capital to the partnership but do not participate in management;
• Are liable only up to the amount of their invested share;
• Here — you are the investor!

Advantages of KSh for Investors:

• Protection of personal assets — even if the project suffers losses, no claims are made against your home, car, or other assets. Investment risk is limited only to the invested amount;
• No management obligation — daily operations are fully handled by the general partner;
• Right to profit share — investors receive dividends proportional to their share (profits are not guaranteed and depend on market conditions);
• Official legal structure — each project partnership is officially registered in accordance with the legislation of Uzbekistan.

Authorized capital is the officially declared base capital of the partnership. It is the total amount contributed by all partners when the company is established.

Example: the project’s authorized capital is 4 billion UZS. This amount is used by the partnership to purchase assets.

Nominal share is the official amount you contribute to the authorized capital. This figure is recorded in documents and does not change.

📊 Calculation example:

• Authorized capital: 4 billion UZS;
• Your contribution: 100 million UZS;
• Your share percentage: 100 million / 4 billion = 2.5%.

This 2.5% is your base share. Final dividend distribution is calculated after passing distribution stages — for details see “How is distribution calculated in Envast?”.

📊 In what form can authorized capital exist?

🟡 In cash form:

• Status: funds not yet spent;
• Description: kept in the company’s bank account.

🏗 In assets:

• Status: investment converted into an asset;
• Description: invested in real estate or other assets.

🟢 Sold asset:

• Status: asset has been realized;
• Description: the asset is sold and the money returns to the company account (for reinvestment or distribution).

Distribution is the process of calculating your dividend. The steps are carried out sequentially as follows:

Step 1: Net profit is calculated
All expenses are deducted from the project’s sales revenue or rental income, and net profit is determined.

Step 2: Profit tax is deducted
From the net profit, the company pays the profit tax as defined by the legislation of the Republic of Uzbekistan.

Step 3: Allocation to charity
From the remaining amount after tax, a portion is allocated to charitable and social purposes defined in the company’s charter. The remaining amount is considered distributable profit.

Step 4: Dividend calculation based on charter capital share
The distributable profit is divided according to each participant’s share in the charter capital. Both full partners and investors (commissary partners) receive dividends according to their ownership share.

Step 5: Part of investors’ dividends is transferred to full partners
A certain portion of investors’ dividends is transferred to full partners as an additional share. This ratio is defined separately for each project and may vary.

Step 6: Your final dividend
After all steps, the remaining amount is transferred to your account. In other words, you receive dividends according to your share in the charter capital and the distribution ratio defined in the charter.

📊 Where exact percentages are shown: For each project, the charity ratio and the distribution coefficient between full partners and investors are clearly defined in the company’s charter (profit tax is determined by the legislation of the Republic of Uzbekistan). Exact figures for your project can be viewed on the project page in the mobile application.

The nominal value is a historical figure recorded in documents: how much each participant invested and when. It does not change, as it is a fixed “fact”.

The sale price is an agreement between the current seller and buyer. The seller sets a price they consider appropriate, and if the buyer agrees, the transaction is completed.

How does the seller decide?

🏢 Project development: have the assets increased in value, is the project generating profit?
📅 Time: how “mature” the project is, how much time has passed
📈 Future outlook: whether profit remains attractive for a new investor
💼 Market conditions: what are share prices in other projects

💡 Market mechanism: the price is formed by the market itself through agreement between buyer and seller. If the price is too high, there are no buyers; if too low, the seller loses value — therefore, market-level pricing is usually established.

📱 Where sales take place: current sale offers and their prices are publicly displayed in the relevant section of the mobile application. Finding a buyer takes time and is not guaranteed — liquidity (speed of exit) depends on market conditions.

Any investment — including real estate — involves risks. The Envast platform aims to be transparent, so every investor should understand the main risks and make investment decisions accordingly.

📉 Capital loss risk
If the project does not develop as planned (construction stoppage, decrease in property value, failure to sell, etc.) — there is a risk of partial or total loss of invested funds. Profit is never guaranteed.

🏗 Project execution risk
Construction delays, contractor breaches, or issues in obtaining government permits may extend project timelines and delay expected returns.

📊 Market risk
The real estate market depends on inflation, exchange rates, economic conditions, and government policy. Property value may decrease compared to the purchase price, or rental demand may decline.

⏳ Liquidity risk
The ability to exit an investment quickly is limited. Selling a share takes time and depends on market conditions. It is not as immediate as withdrawing money from a bank account.

🏘 Rental risk
If the project is focused on rental income — the property may temporarily remain vacant (no tenant or tenant exit). During such periods, rental income stops.

⚖ Legal and tax change risk
Uzbekistan’s legislation (tax rates, real estate rules, investment regulations) may change, affecting project profitability.

🛡 Protection provided by Envast:

• Limited partnership structure — personal assets are protected, risk is limited to invested capital;
• Projects undergo thorough legal and financial analysis;
• All income and expenses are transparently shown in the app;
• Official documents (charter, agreement, share certificate) are provided to each investor.

⚠️ Recommendation: All investments involve risk. Before making a decision, carefully review all documents and terms. It is not recommended to invest using borrowed funds, sole income sources, or money needed for daily expenses. Consult a qualified financial advisor if necessary.