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Kyrgyzstan

Legal form:

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Delivery:

3 months

Price: $

$500

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Kyrgyzstan

Email

Phone

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About

Kyrgyzstan

Capital
Official languages
Population 
Currency

ISO 4217

Bishkek

Kyrgyz and Russian

6.2 million (as of 2019)

Som

KGS

FAQ

FAQ for Company Formation in Kyrgyzstan:


Q: What are the different types of companies that can be formed in Kyrgyzstan?

A: The different types of companies that can be formed in Kyrgyzstan are Limited Liability Companies (LLCs), Joint-Stock Companies (JSCs), and Branches.


Q: What is the minimum number of shareholders required to form an LLC in Kyrgyzstan?

A: At least one shareholder is required to form an LLC in Kyrgyzstan.


Q: What is the minimum share capital required to form an LLC in Kyrgyzstan?

A: The minimum share capital required to form an LLC in Kyrgyzstan is 1 Kyrgyzstani Som.


Q: What is the minimum number of shareholders required to form a JSC in Kyrgyzstan?

A: At least two shareholders are required to form a JSC in Kyrgyzstan.


Q: What is the minimum share capital required to form a JSC in Kyrgyzstan?

A: The minimum share capital required to form a JSC in Kyrgyzstan is 100,000 Kyrgyzstani Som.


Q: What is the process for registering a company in Kyrgyzstan?

A: The process for registering a company in Kyrgyzstan involves the following steps: 

1) Reserve a company name with the Ministry of Justice 

2) Register the company with the Ministry of Justice 

3) Register with the tax authorities 

4) Register with the Social Fund 

5) Obtain any necessary licenses or permits 


Q: What are the tax implications for companies in Kyrgyzstan?

A: Companies in Kyrgyzstan are subject to a corporate income tax rate of 10%.


Q: What are the accounting and auditing requirements for companies in Kyrgyzstan?

A: Companies in Kyrgyzstan are required to maintain accounting records in accordance with Kyrgyz accounting standards. Additionally, companies may be required to have their financial statements audited annually.


Q: What are the employment regulations in Kyrgyzstan?

A: The minimum wage in Kyrgyzstan is currently 2,200 Kyrgyzstani Som per month. Employers must also provide employees with a minimum of 18 days of paid annual leave.


Q: Can foreign nationals register a company in Kyrgyzstan?

A: Yes, foreign nationals can register a company in Kyrgyzstan. However, they may be subject to additional requirements and restrictions depending on their country of origin and the type of business they wish to conduct in Kyrgyzstan.

Economy

"Kyrgyzstan has seen a steady improvement in its economy over the past few years. According to the World Bank, the country's GDP grew by 4.2% in 2019, and is projected to grow by 4.3% in 2020. The country's inflation rate has also been relatively low, averaging around 4.5% in 2019.

Kyrgyzstan has also seen an increase in foreign direct investment (FDI) in recent years. In 2019, FDI inflows to the country totaled $1.2 billion, a significant increase from the $0.8 billion in 2018. This increase in FDI has been driven by the country's improved business environment and its strategic location in Central Asia.

The country's unemployment rate has also been steadily decreasing, from 8.2% in 2018 to 7.7% in 2019. This decrease is largely due to the government's efforts to create more jobs and attract foreign investment.

Overall, Kyrgyzstan's economy has been steadily improving in recent years, and the country is well-positioned to continue this trend in the future."

Taxation

In Kyrgyzstan, both individuals and corporations are subject to various taxes, including income tax, value-added tax (VAT), and social security contributions. Here is an overview of the tax system in Kyrgyzstan:


Corporate taxation:

- Corporate income tax is levied on the profits of companies at a standard rate of 10%, with certain exceptions for specific industries.

- Dividend payments made by Kyrgyzstani companies to shareholders are generally subject to a withholding tax at a rate of 10%.

- Other taxes and duties that companies may be subject to include property tax, customs duty, and social security contributions.


Personal taxation:

- Individuals in Kyrgyzstan are subject to personal income tax on their worldwide income at progressive rates ranging from 10% to 14%, depending on their income level.

- Social security contributions are also deducted from employees' gross salaries under the social welfare system.

- Other taxes that individuals may be subject to include property tax, vehicle tax, and inheritance tax.


Tax payment process and calendar:

- Kyrgyzstani taxpayers are required to file their tax returns annually by March 31st of the year following the tax year.

- The tax year in Kyrgyzstan is from January 1st to December 31st of the same year.

- Companies are required to pay corporate income tax in quarterly instalments throughout the year, with the first instalment due by the end of the third month of the tax year, the second instalment due by the end of the sixth month, the third instalment due by the end of the ninth month, and the final instalment due by the end of the twelfth month.

- Individuals may be required to make advance payments of personal income tax if their tax liability for the year exceeds a certain amount. Advance payments are made in four instalments throughout the year, with the first instalment due by April 25th, the second instalment due by July 25th, the third instalment due by October 25th, and the fourth instalment due by January 25th of the following year.

- Late tax payments are subject to penalties and interest charges.


It should be noted that Kyrgyzstan has been making efforts to improve its tax system in recent years, including simplifying tax procedures and reducing tax rates to promote business development and attract foreign investment. However, compliance with the tax laws and regulations in Kyrgyzstan remains important for both individuals and corporations.

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