On the Adoption of the Law of the Kyrgyz Republic «On Settlements in the National Currency of the Kyrgyz Republic»
The Law of the Kyrgyz Republic “On the Settlements in the National Currency of the Kyrgyz Republic” has been signed.
The purpose of this Law is to promote the broader use of the national currency of the Kyrgyz Republic — the som — in settlements for goods, works, and services within the territory of the Kyrgyz Republic.
The Law applies to individuals, sole proprietors, and legal entities of all forms of ownership conducting settlements in the national currency.
Under the provisions of the Law, all settlements and payments related to transactions involving the purchase and sale of immovable property and movable property (including motor vehicles) that are subject to mandatory state registration must be carried out exclusively in the national currency.
The Law also prohibits the advertisement of goods, works, and services with prices indicated in foreign currencies.
The Law shall enter into force twelve months after the date of its official publication.
On the Approval of the Regulation on Industrial Parks
The Regulation on Industrial Parks has been approved.
The Regulation sets forth the requirements applicable to industrial parks, their managing companies, and the residents of industrial parks.
The Resolution shall enter into force fifteen days after the date of its official publication.
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 9 percent per annum.
This resolution shall enter into force on May 27, 2025.
On the introduction of liability for violation of personal data protection requirements
Law of the Kyrgyz Republic “On Amendments to the Code of the Kyrgyz Republic on Offenses» introducing new provisions to the Code of Offenses related to personal data has been signed.
The Law implements key requirements of the Law of the Kyrgyz Republic “On Personal Data”.
The amendments establish liability for violations of data protection, unlawful cross-border data transfers, denial of access to one’s own data, and non-compliance with instructions from the authorized body. The powers of the regulatory authority have also been expanded to identify and penalize such violations.
The law shall enter into force six months after the date of its official publication.
On the approval of fire safety regulations
The fire safety regulations have been approved.
In order to improve fire safety, minimize material damage from fires, ensure timely notification of people, and create conditions for their safe evacuation, as well as to protect the lives, health, and property of citizens, the Fire Safety Regulations and the list of facilities subject to mandatory installation of automatic fire detection and extinguishing systems have been approved.
These Regulations establish fire safety requirements that define the conduct of legal entities and individuals, as well as the procedures for organizing and maintaining territories, buildings, structures, and other facilities to ensure fire safety.
The Resolution shall enter into force ten days after its official publication.
On establishing the cases in which payment of wages to employees is permitted in cash
The cases in which the payment of wages to employees in cash is permitted have been established.
In order to implement the provisions of the Labor Code of the Kyrgyz Republic governing employee remuneration and to define the conditions under which employers that are legal entities may pay wages in cash, specific cases have been established in which wage payments in cash are permitted.
On establishing the procedure for granting foreign citizens the status of «Digital Nomad»
The regulation establishing the procedure for granting foreign nationals the status of “Digital Nomad” has been approved.
The purpose of this Regulation is to create a favorable environment for the development of innovative initiatives and high-tech industries in the Kyrgyz Republic, as well as to attract foreign investment and specialists in the fields of information and communication technologies, software development, and other related areas.
The Regulation applies to foreign nationals (from the list specified in the Regulation) engaged in ICT, software development, and related sectors who are applying for the “Digital Nomad” status.
The Ministry of Labor, Social Protection, and Migration of the Kyrgyz Republic is instructed to organize the process of granting the “Digital Nomad” status to foreign specialists.
The Resolution enters into force fifteen days after its official publication.