Establishing a local company with foreign participation in the Kyrgyz Republic: specific features for the foreign founder
One of the first steps for a foreign investor after deciding to start a business in the Kyrgyz Republic is the creation of a local company. It should be noted that the legal entities registration system in the Kyrgyz Republic is not that complicated. Taking the overall 70th place from 190 countries in Doing Business 2019 ranking, the country takes a rather high 35th place in the «starting a business» category.
Generally, to register a local legal entity a foreign founder must submit to the Ministry of Justice of the Kyrgyz Republic (registration authority) the following documents:
- Application for registration;
- Resolution on incorporation of the local entity;
- Extract from the state register of legal entities in relation to the founder (foreign company) / passport of the founder (foreign citizen);
- Passport of the head (CEO / General Director) of the local company.
It should be noted that in some individual cases the above list may include additional documents. At the same time, despite the apparent simplicity, there are a number of features the future founder should know about before starting the registration procedure. The purpose of this article is to familiarize readers with such features.
Author:
Meder Akeneev
Associate, GRATA International, Kyrgyzstan
