On the minimum amount of authorized capital and own (regulatory) capital of commercial banks

The Resolution establishes the minimum authorized capital for newly established commercial banks.

For operating commercial banks, a phased increase in the minimum authorized capital is established. Until June 30, 2026, the minimum authorized capital must be at least KGS 800.0 million. Starting from July 1, 2026, the minimum threshold increases to KGS 1.0 billion; from July 1, 2027 – to KGS 1.5 billion; from July 1, 2028 – to KGS 2.0 billion; from July 1, 2029 – to KGS 2.5 billion; and from July 1, 2030 – to KGS 3.0 billion.

For operating systemically important commercial banks, a higher requirement is established: the minimum authorized capital must be no less than KGS 8.0 billion as of July 1, 2027.

Resolution enters into force on January 1, 2026.

On the establishment of the policy rate by the National Bank of the Kyrgyz Republic

By resolution of the Board of the National Bank of the Kyrgyz Republic, the policy rate of the National Bank of the Kyrgyz Republic is set at 11 percent per annum.

This resolution shall enter into force on January 27, 2026.

On Amendments to the Law «On Virtual Assets»

The Law of the Kyrgyz Republic «On Amendments to the Law of the Kyrgyz Republic «On Virtual Assets» has been signed.

The Law is aimed at improving the effectiveness of state regulation of activities carried out by virtual asset service providers, as well as ensuring the stability and transparency of the virtual asset market in the Kyrgyz Republic.

The Law clarifies the definition of the term «stablecoin» and introduces additional definitions, including «Real World Asset Token (RWA Token)», «state mining», and «state cryptocurrency reserve.»

In addition, the Law provides that, for the purpose of testing legal regulation of public relations in the field of virtual assets related to the introduction of innovative services and technologies, the President of the Kyrgyz Republic may establish, for a limited period and within a designated territory of the Kyrgyz Republic, a pilot regulatory framework under a special regulatory regime (regulatory sandbox).

 The authorized state body responsible for policy implementation and regulation in the field of virtual assets is empowered to carry out licensing and to issue permit documents within the special regulatory regime. Such licenses and permits are issued in accordance with the objectives and types of activities required for the implementation of the regime, are granted for a limited period, are personal and non-transferable, and may not be assigned to third parties. 

 To obtain a license to operate as a virtual asset service provider, legal entities must apply to the authorized body with a corresponding application.

 The Law also establishes that persons engaged in mining activities are required to undergo registration in accordance with the procedure set out by this Law and other regulatory legal acts of the Kyrgyz Republic. Individual entrepreneurs and legal entities that have completed registration are entitled to carry out mining activities from the date of issuance of the relevant certificate.

On the introduction of a temporary ban (moratorium) on tax audits of business entities

The Decree «On the introduction of a temporary ban (Moratorium) on tax audits of business entities» has been signed.

The purpose of the Decree is to support and stimulate entrepreneurial activity, ensure sustainable economic development, improve the investment climate, protect the rights and legitimate interests of businesses, and prevent unjustified and excessive interference by state authorities in the activities of business entities.

The Decree introduces a moratorium on tax control of business entities registered with the tax authorities in accordance with the tax legislation of the Kyrgyz Republic until December 31, 2026. The moratorium applies to tax audits conducted by tax authorities, subject to certain exceptions specified in the Decree.

In particular, the moratorium does not apply to on-site thematic, scheduled, and counter audits; audits conducted in connection with the liquidation of a legal entity and/or termination of activities of an individual entrepreneur at the request of the business entity; desk (cameral) audits; as well as raid-based tax control and control over compliance with the procedure for using cash register machines. These exceptions apply to business entities operating under the general tax regime or the simplified taxation system based on the single tax at rates of 2, 3, 4, 6, and 8 percent, as well as to entities engaged in the production and/or sale of jewelry and excisable goods.

On-site audits that were not completed or were suspended as of the date this Decree enters into force shall be completed in accordance with the procedure established by the tax legislation of the Kyrgyz Republic.

The State Tax Service under the Cabinet of Ministers of the Kyrgyz Republic is tasked with strengthening analytical efforts to identify risk-oriented business entities in order to reasonably include them in audit plans and to prevent a decrease in projected tax and non-tax revenues.

At the same time, law enforcement authorities of the Kyrgyz Republic are instructed, in the absence of sufficient data indicating elements of a crime, to refrain from initiating criminal cases aimed at triggering unscheduled tax audits of business entities.

This Decree shall enter into force on the date of its official publication.

On the Establishment of a Consortium of Institutions Supporting Small and Medium-Sized Enterprises in Kyrgyzstan

The Decree «On the Establishment of a Consortium of Institutions Supporting Small and Medium-Sized Enterprises» has been signed.

For the purpose of consolidating the efforts of state authorities, financial institutions, educational organizations, and international partners, as well as enhancing the effectiveness and transparency of state policy in the field of entrepreneurship support, and guided by Articles 66 and 71 of the Constitution of the Kyrgyz Republic, it is hereby decreed:

• To establish a consortium of institutions supporting small and medium-sized enterprises in the Kyrgyz Republic.
• To approve the Regulation on the Consortium of Institutions Supporting Small and Medium-Sized Enterprises in the Kyrgyz Republic.
• To designate the Ministry of Economy and Commerce of the Kyrgyz Republic as the secretariat of the said consortium.
• To determine that:

-the founders’ council of the consortium shall define the main directions and priorities for the development of small and medium-sized enterprises in the Kyrgyz Republic, and its decisions in the field of SME support shall be binding on consortium participants and state authorities;

-state authorities shall provide assistance to the Ministry of Economy and Commerce of the Kyrgyz Republic in implementing measures aimed at the development of small and medium-sized enterprises and ensure priority cooperation with the Ministry in relevant areas of activity.

• The Ministry of Economy and Commerce of the Kyrgyz Republic shall:

-coordinate the activities of consortium participants and monitor the implementation of its decisions;

-take the measures arising from this Decree.

• The Cabinet of Ministers of the Kyrgyz Republic shall, before the beginning of the second quarter of 2026, approve the Program for the Support and Development of Small and Medium-Sized Enterprises in the Kyrgyz Republic until 2030, providing for the comprehensive development of entrepreneurial activity, including:

-the development and support of youth entrepreneurship;

-the promotion of women’s entrepreneurship;

-the stimulation of social entrepreneurship;

-support for regional entrepreneurship development;

-the formation and support of cluster development;

-the development of the creative economy focused on innovation-driven and export-oriented growth.

Control over the implementation of this Decree shall be assigned to the Department for Monitoring the Execution of Decisions of the President and the Cabinet of Ministers of the Administration of the President of the Kyrgyz Republic.

This Decree shall enter into force ten days after the date of its official publication.