Arbitration as the Method of Settlement of Investment Disputes against the Kyrgyz Republic
AKIpress Analytics section, March 19, 2013

The Kyrgyz Republic has already participated in several arbitration proceedings. Therefore, it might be reasonable to analyze peculiarities of legal regulation of arbitration in the KR, the causes and consequences of arbitration disputes and make relevant conclusions…

What risks foreign investors should take into account while investing into the Kyrgyz mining sector,
The Times of Central Asia, March 1, 2012.

Overview of Anti-Corruption Laws in Kyrgyz Republic,
Comparative Summary of Anti-Corruption Laws in the CIS Economic Region, 2011,
The CIS Leading Council Network.

What a foreigner should know about tax regime in the Kyrgyz Republic?
The Times of Central Asia, publication expected.

Kyrgyzstan is not an offshore zone and does not provide tax exemptions, but the rates of many of them are not very high.

Anti-Corruption Laws in the Kyrgyz Republic: 8 Frequently Asked Questions

1. What qualifies as corruption?

Corruption refers to a white-collar crime covering such offences as receiving material and other benefits and advantages, as well as the provision of these benefits and advantages to individuals and legal entities, bribery, forgery, negligence of official duty, misappropriation of state property and abuse of official status and powers that threaten the interests of society and the state.

2. Which laws establish anti-corruption measures in the Kyrgyz Republic?

Anti-corruption measures are detailed in numerous areas of Kyrgyz law, the most notable being the laws on Anti-Corruption, Public Service, Municipal Service, Public Procurement, Combating Financing of Terrorism and Legalization of Illegally Generated Revenues (Money Laundering), Declaring and Publication of Data on Revenues, Obligations and Property of Persons Occupying Political and Other Special State Positions, and Close Relatives Thereof, and certain provisions of the Administrative and Criminal Codes of the Kyrgyz Republic.

3. Who is subject to anti-corruption regulation in the Kyrgyz Republic?

All i) governmental and ii) municipal officials, iii) officials of the National Bank, iv) heads of state enterprises, engaged in corruption, v) individuals (citizens of the Kyrgyz Republic and foreign individuals) and legal entities, including their officials and employees, unlawfully providing material benefits, gifts, advantages or services to governmental, municipal officials and heads of state enterprises as well as vi) members of procurement commission and vii) members of Judges Selection Council are subject to Anti-corruption laws of the Kyrgyz Republic. The governmental officials include political public officials, judicial officials and administrative public officials. Municipal officials comprise of political municipal officials and administrative municipal officials.

4. What kind of business amenities to governmental officials are prohibited by Anti-corruption laws?

As a general rule, governmental officials are prohibited to accept gifts. However, Anti-corruption laws allow accepting of gifts by governmental officials provided that:
- the value of the gift provided to the governmental official does not exceed 10 index rates (about USD 21);
- the gifts are presented during the official meeting to public officials pursuant to governmental meeting protocols.

5. Are there any restrictions with regard to business amenities to private sector provided by Anti-corruption laws?

Anti-corruption laws prohibit:
- the exchange of gifts between commercial companies, and state owned enterprises and organisations, unless the value of such gift is less than 10 index rates (about USD 21);
- the giving/accepting of a gift, money, securities, or other assets as well as the unlawful provision of services to a person with managerial functions working at a commercial company for the purposes of encouraging such person to take or not to take action in the interest of the giver of the bribe by using his/her managerial functions.

6. What kind of liability is prescribed for violation of Anti-corruption laws?

Violations of Anti-corruption laws lead to administrative and criminal liability. Administrative liability comprises of fines, termination of office and restriction on serving as governmental, municipal or corporate officer for a certain period of time. Criminal liability includes besides fines, termination of office and restriction on serving as governmental, municipal or corporate officer for a certain period of time, confiscation of property, imprisonment. The liability is imposed on both persons involved in corruption (for instance, bribe-giver and bribe-receiver). Legal entities are not subject to criminal liability.

7. What agencies are responsible for investigating and prosecuting corruption?

Corruption-related crimes are investigated and prosecuted by the following agencies: Anti-Corruption Service under the State Committee of National Security, Ministry of Internal Affairs, State Service on Fighting Economic Crimes under the Government of the Kyrgyz Republic (Financial Police) and the General Prosecutor’s Office.

8. Are there statutes of limitations during which an offence can be prosecuted?

The statute of limitations for prosecution of violations of Anti-corruption laws vary from 1 up to 10 years depending on the gravity of the criminal offence, determined according to the maximum punishment stipulated for each specific offence.

 

 

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