LAW OF THE KYRGYZ REPUBLIC

of June 6, 2023 No. 117

About voluntary legalization and amnesty of assets of physical persons

Accepted by Jogorku Kenesh of the Kyrgyz Republic on May 4, 2023

Article 1. Subject and purpose of this Law

1. This Law governs the relations connected with legalization of assets of physical persons including without payment of tax and customs payments, fees on social insurance and other obligatory payments, release from criminal liability in the form of provision of the state guarantee according to the legislation of the Kyrgyz Republic.

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.

3. This Law does not regulate the legal relationship connected with legalization of assets which are received and taken as a result of making of crimes or offenses in the territory of foreign state and are recognized as those based on judgments.

Article 2. The basic concepts used in this Law

1. In this Law the following basic concepts are used:

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;

2) subjects to declaring - the assets belonging to the subject of declaring, being in the territory of the Kyrgyz Republic and/or beyond its limits, which are earlier not declared and/or are not drawn up on the customs applicant according to the procedure, determined by the legislation of the Kyrgyz Republic, and/or drawn up on other person, and also drawn up by the subject of declaring at the cost other than actually paid (real) acquisition value specified in the agreement on acquisition of rights this property;

3) subjects of declaring are the citizens of the Kyrgyz Republic including who are living outside the Kyrgyz Republic and having nationality of other state, but did not refuse nationality of the Kyrgyz Republic, persons having the residence permit in the Kyrgyz Republic, kayrylmana;

4) the customs applicant - the subject of declaring who addressed the authorized officer for assurance of the special declaration according to the procedure, determined by this Law;

5) the special declaration - the document of the strict reporting having individual sequence number and the confirmatory fact of declaring by the customs applicant of the assets belonging to it and legality of sources of origin of money;

6) declaring of assets - the actions of the customs applicant connected with voluntary declaring of assets by filling and assurance of the special declaration at the authorized officer;

7) authorized officers - the notaries public of judicial authorities of the Kyrgyz Republic and private notaries of the Kyrgyz Republic, officials of consular establishments of the Kyrgyz Republic and other public institutions having the right to make the notarial actions certifying the special declaration on assets of physical person according to the procedure, provided by this Law;

8) declaring term - the period of time provided by this Law during which physical persons can address for declaring of the assets the authorized officer;

9) the Register of special declarations on assets - the register which is created and kept by the authorized officer and comprises the following data: individual sequence number of the declaration on the income and property, date of declaring, personal data of the customs applicant, and also information on spoil or loss of the declaration on the income and property;

10) declaration threshold - the cumulative amount of the income and property value exceeding 100000000 som;

11) declaration payment - 1000000 som which are one-timely paid by subjects of declaring according to this Law irrespective of the amount which exceeded declaration threshold;

12) the nominal owner of assets - person performing the rights of the owner (owner) of assets in interests and/or at the request of the actual owner of assets;

13) the actual owner of assets - the customs applicant, in interests and/or at the request of which the nominal owner of assets performs the rights of the owner (owner) of assets.

2. The concepts of the civil, tax legislation of the Kyrgyz Republic and other industries of the legislation of the Kyrgyz Republic used in this Law are applied in that value in what are used in these industries of the legislation if other is not provided by this Law.

Article 3. Coverage of this Law

1. Operation of this Law extends to the subjects to declaring (assets) which are available as of January 1, 2023.

2. Operation of this Law does not extend to persons included the searched persons and sanctions lists in national and international lists.

3. This Law is not applied to assets:

1) limited in turnover or withdrawn from circulation according to the legislation of the Kyrgyz Republic;

On 2) in which Kyrgyz Republic or beyond its limits at the time of enforcement of this Law is effective the become effective judgment on their arrest and confiscation or transfer to other person, and also assets which are subject of criminal and civil trial.

4. Operation of this Law does not interfere with accomplishment of the international and national requirements in the sphere of counteraction to financing of terrorist activities and to legalization (washing) of the criminal income, including implementation of the international and interdepartmental cooperation in this sphere.

Article 4. Organization and procedure for carrying out declaring of assets

1. The subject of declaring has the right to address the authorized officer which is in the Kyrgyz Republic and beyond its limits for declaring of the assets which are available as of January 1, 2023, owner or the actual owner of which for date of assurance of the special declaration is the customs applicant.

2. When declaring assets which amount does not exceed the declaration threshold established by this Law the declaration payment is not levied. In this case the customs applicant pays only the state fee in the amount of, established by the Cabinet of Ministers of the Kyrgyz Republic for making of this type of notarial action.

3. When declaring assets on the amount exceeding declaration threshold, subject of declaring makes payment:

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