LAW OF THE KYRGYZ REPUBLIC

of June 18, 2024 No. 101

About introduction of amendments to the Law of the Kyrgyz Republic "About voluntary legalization and amnesty of assets of physical persons"

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 6, 2024

Article 1.

Bring in the Law of the Kyrgyz Republic "About voluntary legalization and amnesty of assets of physical persons" (the newspaper of "Erkin-limited liability partnership" of June 9, 2023 No. 46) the following changes:

Part 2 of Article 1 to state 1) in the following edition:

"2. The purpose of this Law is attraction of property and the income of physical persons in legal economic circulation by creation of legal mechanism of legalization by means of voluntary declaring by physical persons of the assets belonging to them which are available as of January 1, 2023 including nominally drawn up on other persons and/or being outside the Kyrgyz Republic, owner or the actual owner of which for date of submission of the special declaration is the customs applicant; increase in internal and external investments into economy of the Kyrgyz Republic; reduction of share of shadow economy; providing guarantees of safety of assets and protection of their owners against prosecution from state bodies of the Kyrgyz Republic for violations of requirements of the legislation which could take place before introduction of the voluntary declaring of assets provided by this Law.";

2) regarding 1 Article 2:

a) state Item 1 in the following edition:

"1) assets - the property and property rights which are available as of January 1, 2023 (including personal and real estate, money on bank accounts, cash in the Kyrgyz Republic and/or beyond its limits, securities, virtual assets, shares (shares) of participation in the authorized capital and property of the commercial organizations in the Kyrgyz Republic and/or the foreign organizations), the owner or the actual owner of which for date of submission of the special declaration is the customs applicant;";

b) state Item 7 in the following edition:

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