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of March 27, 2003 No. 66

About investments in the Kyrgyz Republic

(The last edition from 06-08-2018)

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on February 7, 2003

This Law establishes the basic principles of the state investment policy directed to improvement of the investment climate in the republic and stimulation of attraction of domestic and foreign investments by means of provision of fair, equal legal regime to investors and guarantee of protection of the investments into economy of the Kyrgyz Republic involved with them.

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

1. Investments are material and non-material attachments of all asset types which are in property or controlled directly or indirectly by the investor in objects of economic activity for the purpose of profit earning and (or) achievement of other useful effect in type:

- money;

- personal and real estate;

- property rights (mortgage, property right to retain, pledge and others);

- shares and other forms of participation in the legal entity;

- bonds and other debt obligations;

- the non-property rights (including the intellectual property right, including goodwill, copyright, patents, trademarks, industrial designs, engineering procedures, trade names and know-how);

- any right to implementation of the activities based on the license or in other form provided by state bodies of the Kyrgyz Republic;

- the concessions based on the legislation of the Kyrgyz Republic including concessions on search, development, production or operation of natural resources of the Kyrgyz Republic;

- profits or income gained from investments and reinvested in the territory of the Kyrgyz Republic;

- other forms of investment which are not prohibited by the legislation of the Kyrgyz Republic.

The form in which the property is invested or change of this form does not influence its nature as investments.

2. Direct investments - ownership, acquisition by the investor at least one third percent of shares or voices of shareholders in the joint-stock companies created or newly created in the territory of the Kyrgyz Republic, or equivalent of such participation in other forms of business entities and all subsequent transactions between the investor and the invested company, capital investments in fixed assets of branch, representation of the legal entity created in the territory of the Kyrgyz Republic.

3. The investor - the subject of investing activities performing attachment of own, loan or raised funds in the form of direct investments.

The domestic investor - legal entities and physical persons of the Kyrgyz Republic, and also the foreign citizens and stateless persons having resident status of the Kyrgyz Republic, and performing investing activities in the territory of the Kyrgyz Republic.

The foreign investor - any physical persons and legal entities, not being domestic investors and performing attachment of investments into economy of the Kyrgyz Republic, including:

1) the physical person who is the foreign citizen or the person without citizenship who is constantly living outside the Kyrgyz Republic;

2) legal entity:

created and registered according to the legislation of foreign state; or

created with foreign participation, that is founded according to the legislation of the Kyrgyz Republic:

a) completely belonging to one or more foreign physical, legal entities; or

b) controlled and managed by one or more foreign physical, legal entities by means of the written contract, the right to exercise the share majority, the rights to appoint most of members of executive or supervisory body; or

c) at least than one third percent of shares or voices of shareholders of which are in property of foreign citizens, the persons without citizenship who are constantly living abroad or the legal entities mentioned in this Article;

3) the legal entity created on the basis of the international treaty of the Kyrgyz Republic;

4) the foreign organization, not being the legal entity;

5) international organization.

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