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.

Senior Associate - Shuhrat Akhmatakhunov

Shuhrat Akhmatakhunov is a senior lawyer at Kalikova & Associates and a member of Exploration & Mining Practice Group. Shuhrat has experience in providing legal advice to mining, exploration, and energy companies on corporate, licensing, contracts issues. He has been involved in legal due diligence, structuring and restructuring of assets, establishing and registration of legal entities, branches and representative offices thereof.


- advised a United Kindom-based investment company having mining assets in the Kyrgyz Republic, in connection with its IPO on AIM London Stock Exchange;
- advised a European company in connection with privatization of production assets in the Kyrgyz Republic;
- advised a major American construction company on establishing a subsidiary in the Kyrgyz Republic to handle the construction of the new building of the US Embassy;
- advised a United Kindom-based investment company in connection with potential acquisition of exploration and mining assets in the Kyrgyz Republic, including legal due diligence and deal structuring and securing;
- advised one of the biggest Russian energy companies on the legal issues in establishment of a subsidiary in connection with the construction of hydro power plants in the Kyrgyz Republic;
- advised a major Kyrgyz bank in connection with its corporate loans;
- counseled a major Turkish airline company on structuring and securing the acquisition of the local air companies.

Professional Background

Kalikova & Associates Law Firm (since 2009). 


B.A. in Law, American University of Central Asia (2009).

Speeches and Presentations, Publications

Contribution to Mining/GettingtheDealThrough (Chapter on the Kyrgyz Republic), London, 2010, in co-authorship with Murat Madykov.



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