The draft law "On Free Economic Zones in Kyrgyzstan" is under discussion

18th of July, 2023

Since 6 July 2023, the draft law "On Amendments to the Law "On Free Economic Zones in the Kyrgyz Republic" has been submitted for public discussion. This draft law is an initiative of MP Amankan Kenzhebaev.

The draft law provides for clarification of functional types of free economic zones (FEZs) that may be created in accordance with their objectives and planned activities. Such types of FEZs include port and logistics zones, complex FEZs, special scientific and technological zones, tourist and recreational zones, free trade zones, logistics zones, special production zones and other FEZs that do not contradict the legislation of the Kyrgyz Republic.

The purpose of including such types of FEZs is to create favourable conditions for attracting foreign capital, technology and management experience, developing the economic potential of the territory, integrating foreign capital with domestic enterprises, creating modern infrastructure, and saturating the domestic market with products and goods.

The new draft law also proposes a change of the organisational and legal form from "Institution" to "State Enterprise". Currently, an "Institution" is a non-profit organisation, defined by law as an organisation that does not have profit making as its main purpose. However, it is difficult for non-profit organisations to achieve significant financial results due to the wide range of tasks and objectives they perform. The change will make it possible to achieve the following objectives: meeting the needs of the state, legal entities and individuals in the production of goods, works and services, increasing exports of goods, implementing economic projects and achieving economic independence.

Kyrgyzstan has a favourable attitude towards non-resident business and gives advantages in taxation, banking system, economic stability, compared even with some European countries. 

Experts of Intelligent Solution Group will come to your assistance in the process of business registration in Kyrgyzstan:

  • study of the desired direction of the company's activity, business geography;
  • collection and execution of documents;
  • filing an application for company registration;
  • collection and submission of documents for opening a corporate bank account;
  • assistance in compliance control;
  • confirmation of the source of funds;
  • support after account opening: setting up internet banking, conducting transactions;
  • further assistance in case of questions from the bank - in the process of account operation. 

Attention! Until the end of summer there is a special offer: when registering a company and opening a corporate account, we will open a private bank account for our clients free of charge! 

Are you interested? Contact us, we will arrange a time for a free consultation, where we will tell you all the details of the offer.

 

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