Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

It is registered

Ministry of Justice

Kyrgyz Republic

On April 22, 2003 No. 37-03

RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of April 16, 2003 No. 13/2

About establishment of requirements for determination of subjects and the list of offshore zones

(as amended on 14-08-2019)

For the purpose of safety, reliability and banking system stability of the Kyrgyz Republic, depositor protection and other creditors of commercial bank, ensuring transparency of structure of property of banks based on articles 79 and 89 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity", prevention of carrying out the transactions connected with financing of terrorist activities and legalization (washing) of the criminal income, the Board of National Bank of the Kyrgyz Republic decides:

1. Determine that subjects of offshore zones are banks, subsidiary banks, holding companies, financial credit institutions, legal entities and physical persons registered or living in the states or in the territories which are providing preferential tax regime and (or) not providing complete disclosure and (or) information to banking supervisor authorities according to requirements and recommendations of Basel Committee on Banking Supervision.

2. For the purpose of implementation of regulation and supervision of activities of commercial banks and other financial credit institutions (further - commercial banks) to approve the enclosed list of the states and the territories which are providing preferential tax regime and (or) not providing complete disclosure and submission of information to banking supervisor authorities (offshore zones). Changes and additions can be made by board decision of National Bank of the Kyrgyz Republic to this list.

3. Ceased to be valid the Resolution of Board of NBKR of March 2, 2006 No. 5/7

4. To management of methodology of supervision and licensing:

- together with legal department to carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic;

- after state registration in the Ministry of Justice of the Kyrgyz Republic together with department of external and public relations to publish this resolution in the official publication of National Bank of the Kyrgyz Republic and to inform commercial banks, OJSC RSK and regional managements of National Bank of the Kyrgyz Republic;

- prepare offers for the purpose of reduction of regulatory legal acts of National Bank of the Kyrgyz Republic in compliance with this resolution and submit for consideration of Board of National Bank of the Kyrgyz Republic.

5. This regulatory legal act extends to the banks and other financial credit institutions operating in the territory of the Kyrgyz Republic and becomes effective after 30 calendar days from the moment of publication in the official publication of National Bank of the Kyrgyz Republic.

6. From the moment of enforcement of this resolution to declare invalid the resolution of Board of National Bank of the Kyrgyz Republic of April 26, 2002 No. 20/12 "About requirements for determination of subjects of offshore zones".

7. To commercial banks and other financial credit institutions by the time of enforcement of this resolution to bring the activities into accord with this resolution.

8. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Sharshekeeva K. Sh.

Chairman of the board

Sarbanov U. K.

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of April 16, 2003, No. 13/2

The list of the states and the territories which are providing preferential tax regime and (or) not providing complete disclosure and submission of information to banking supervisor authorities (offshore zones)

1. Anguilla

2. Antigua and Barbuda

3. Aruba

4. Barbados

5. Belize

6. Bermuda

7. British Virgin Islands

8. Gibraltar

9. State of Bahrain

10. Grenada

11. Dominican Republic

12. Principality of Andorra

13. Principality of Liechtenstein

14. Lebanese Republic

15. Macau (People's Republic of China)

16. Republic of Maldives

17. Monaco

18. Montserrat

19. Independent State of Samoa

20. Netherlands Antilles

21. Niue (New Zealand)

22. Island Labuan (Malaysia)

23. Cayman Islands (Cayman Islands)

24. Cook Islands (New Zealand)

25. Turks and Caicos Islands

26. Republic of Vanuatu

27. Republic of Costa Rica

28. Republic of Liberia

29. Republic of Mauritius

30. Republic of Malta

31. Republic of the Marshall Islands

32. Republic of Nauru

33. Republic of Palau (Belau)

34. Republic of Panama

35. Republic of Seychelles

36. San Marino

37. Saint Vincent and Grenadines

38. Saint Lucia

39. Commonwealth of the Bahamas

40. Federation Saint Kitts and Nevis

41. Yugoslavian Republic of Montenegro

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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