The Cabinet of Ministers has amended the regulations governing the register of bona fide entrepreneurs in Kyrgyzstan. The updated document aims to increase transparency and trust in business.
According to the resolution, the authorized body for entrepreneurship development will now be responsible for maintaining the register. The register will be fully electronic, and entrepreneurs will remain on it for three years from the date of inclusion.
From now on, legal entities of all types of ownership and individual entrepreneurs will be able to apply if they meet updated bona fide criteria. These include the absence of tax and customs arrears, no outstanding social security contributions debts, and payment of wages no less than the regional average.
The list of required documents has also been expanded. In addition to registration information, applicants must provide data on employees, taxes paid over the last three years, and a certificate regarding the company’s director.
One of the new provisions now allows bona fide entrepreneurs to use Ak Niet Ishker label on products, packaging, and advertising materials. In addition, they will be granted one free broadcast on state television channels as part of the agreed-upon media plan.
Businesses are also required to submit notification of any changes to their operations by January 30 each year.
The regulation will take effect in 15 days.
