Registration of Legal Entities in the Kyrgyz Republic: 8 Frequently Asked Questions

Pursuant to KR law, the authorized capital defines the amount of the property of a legal entity guaranteeing interests of its creditors. The amount of the authorized capital of the legal entity is defined by its participants in its constitutive documents. It should be noted that in JSCs the authorized capital must not be less than KGS 100,000 , whereas in LLCs the authorized capital may be minimal, which is up to KGS 1.

After receiving the certificate of state registration and the seal, a legal entity may open account in any bank of KR.

After opening a settlement account, the bank must within 5 business days notify the tax authority at the place of location of a legal entity to this effect.

After receiving from the justice body the certificate of state registration indicating a taxpayer’s identification number (TIN) a legal entity can order a seal to be made by a private company making seals. At present, to have a seal made, a legal entity is not required to receive any permission from state authorities of KR.

State registration of legal entities by the justice bodies is performed within 3 business days from the date of submission to the respective justice body of all necessary documents required by the legislation.

Financial and lending institutions are registered by the justice bodies within 10 calendar days.

The KR Ministry of Justice and its territorial units are responsible for state registration of legal entities in KR.

The participant’s decision to establish a legal entity must be signed by each participant and contain the following data:

- Name of the to-be-registered legal entity in Kyrgyz and Russian;
- Legal address of the newly established legal entity;
- Data about each participant including the last name, first name and patronymic, place of residence (for natural persons), or full name, place of location (for legal entities);
- Amount of the charter capital and amount of each participant’s share in the charter capital of a legal entity;

For registration of a legal entity, the following documents must be submitted to the registration authority:

- Application for registration;
- Participant’s decision to establish a legal entity;
- Copy of the participant’s passport (if the participant is an individual);
- Copy of the certificate of state registration (if the participant is a legal entity);
- Copy of the CEO’s passport;
- Other data provided by KR law.

LLCs/JSCs can be founded by one or more entities, which might be both individuals and legal entities. JSCs can be also founded by the KR Government and local self-government authorities.

LLCs/JSCs cannot have another business entity as its sole founder/shareholder (hereinafter – “participant”), if this legal entity consists of only one person. LLCs must not have more than 30 and closed JSCs more than 50 participants, while open JSCs may have an unlimited number of participants.