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REAL PROPERTY LAW Real Property Law According to the Kyrgyz Civil Code[1], real property refers to land, minerals, water, forests, perennial plantings, buildings, structures and everything firmly attached to land, i.e. objects that cannot be moved without destroying or altering them. The state registration of rights to immovable property is performed by the State Registration Service under the Government of the Kyrgyz Republic[2]. Real property rights and encumbrances, as well as real property […]

BANKING SYSTEM State Regulation The banking system of the Kyrgyz Republic consists of the National Bank of the Kyrgyz Republic and commercial banks. The Law of the Kyrgyz Republic “On the National Bank” and the Law of the Kyrgyz Republic “On Banks and Banking” regulate banking activities. The National Bank is a central bank of Kyrgyz Republic owned by Kyrgyz Republic. Functions of the National Bank include:   null Determination and implementation of the monetary policy in the K[…]

ACCOUNTING AND AUDIT Financial Reporting International Financial Reporting Standards developed by the International Accounting Standards Board (London) are applied in the Kyrgyz Republic as uniform basis rules for accounting and financial reporting. Small business enterprises may use simplified accounting and financial reporting rules established by the Kyrgyz Government. Financial institutions operating in accordance with the principles of Islamic banking and finance use Islamic financial accou[…]

LICENSES AND PERMITS Legislation Licensing is regulated by the Licensing and Permitting System Law in Kyrgyz Republic.[1] Banks, financial/lending institutions, and other institutions, which are regulated by the National Bank of Kyrgyz Republic, are licensed in accordance to particular laws[2] . The procedure of issuing licenses for the use of mineral resources, including the procedure for the extension, suspension, termination or transfer of such licenses as well as the license conditions, […]

INVESTMENT CLIMATE Investments are major prerequisite for economic development of Kyrgyz Republic; therefore, investment legislation of Kyrgyz Republic is quite liberal. The Constitution is the basic and paramount law and all other laws must conform with it. Some of these laws directly or indirectly regulate investments in Kyrgyz Republic such as Licensing law, Joint-Stock Companies law, Mining law, Free Economic Zones law of Kyrgyz Republic, Tax Code, Land Code, Customs Code, Civil Code, Public[…]

INVESTMENT VISA Investment visa (type I) According to the new instruction about an order of registration and issue of visas of the Kyrgyz Republic of March 15, 2017 the new, simplified order of obtaining the investment visa is in effect. The investment visa (type I) is issued to investors or heads of foreign investment company and members of his family (spouse, minor children and parents who are in dependence) who is performing investment activities in the Kyrgyz Republic and submitted the neces[…]

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Geography Kyrgyz Republic is a landlocked country located in the heart of Central Asia. The capital is Bishkek. It has borders with Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest, and the People’s Republic of China to the east. The country is divided into seven provinces (oblasts), which are Batken, Chuy, Djalal-Abad, Issyk-Kul, Naryn, Osh and Talas. Most of the territory lies on large mountains. About 94 percent of the country rises over 1 000 m, and 40 perce[…]

Agriculture As per Government’s Development Programs, Agriculture is considered to be key sector to focus on and under state support. Kyrgyz Republic has very advantageous position for development of agriculture industry for its favorable climate, naturally cultivated agro products, and territorial advantage. Тhe territory of Kyrgyz Republic is divided into oblasts that have distinct geographic and climate conditions that offers comparative advantages. For example, in Chuy oblast the dominant[…]