Open an account in Kyrgyzstan in 2023
Commencing a ledger in Kyrgyzstan is feasible not only to local entrepreneurs and legal entities, but also to foreign investors and companies. Recently, there has been a growing interest in the Kyrgyz Republic, which is explained by a rather flexible regulatory system and favourable territorial location, which provides an opportunity to access large-scale Asian markets. The country's economy demonstrates a rather active pace of development due to industry and services, which is also one of the reasons why some businessmen decide to register a company and open a corporate account in Kyrgyzstan.

Financial repository in Kyrgyzstan: What must I apprehend?

The country's banking system consists of two levels. The first level is represented in the form of the National Bank and the second level includes commercial banking institutions. Currently, there are 23 banks and 312 branches operating in the country. The activities of these financial organisations are regulated by the Law on the National Bank and the Law on Banks and Banking Activities. The local official currency is the som (KGS). Disclosure of information constituting banking secrecy is regulated by the Law on Banking Secrecy.

  1. Bank secrecy includes the following information:
    • information on customer accounts and deposits;
    • information on transactions/operations performed at the client's request or in the client's interests;
    • information about the customer that the bank may have received.
  2. Financial institutions can provide data:
    • The National Bank;
    • state bodies (investigative);
    • courts; and
    • to a representative, subject to certified powers of attorney.

In general, it is possible to open an account in Kyrgyzstan for a non-resident in a fairly short period of time, provided that all requirements are met. In addition, this country is an interesting option for businessmen who own offshore companies and wish to open a bank account in Kyrgyzstan. The most popular among entrepreneurs are such financial institutions:

  • Demir Bank;
  • RSK Bank;
  • Optima Bank;
  • Bank of Asia;
  • Kyrgyzstan Bank;
  • Bakai Bank;
  • Rosin Bank.

As practice shows, most banks allow non-residents to open a corporate account in Kyrgyzstan. Large financial institutions have their offices in major cities of the country, such as Osh, Bishkek, Tokmok, Jalal-Abad, Kara-Balta, etc. In addition, entrepreneurs can open an account in Kyrgyzstan remotely, without the need for a personal visit.

The embankments of the Kyrgyzstan Commonwealth are vigorously evolving and broadening the spectrum of their amenities while enhancing the echelon of assistance. It is meritorious to highlight that entities are ardently endeavoring to inaugurate contemporary technologies into their frameworks, nurturing cyberspace finance, and furnishing virtual backing with far-flung entry to records.

Should you contemplate inaugurating a corporation ledger in Kyrgyzstan, you must consider that indigenous banking firms are all-encompassing pecuniary establishments. This signifies that they furnish an entire spectrum of monetary amenities to both natural persons and juridical entities. Another gain of launching a financial ledger in Kyrgyzstan is that from 2017 onwards, particular bodies possess the entitlement to execute fiscal maneuvers and dealings in harmony with Shariah principles. Consequently, if you harbor a penchant for Islamic finance in Kyrgyzstan, certain pecuniary organizations can proffer an array of Shariah-conforming accommodations via the Islamic Casement.

Banks proffer such amenities to corporate patrons:

  • Currency and finalization and remuneration amenities;
  • Opening of deposit accounts;
  • Loans;
  • Carrying out currency transactions;
  • Services related to documentary operations;
  • Depository services;
  • Transactions related to securities;
  • Issue of corporate cards.

Advantages of setting up a bank account in Kyrgyzstan

Financial institutions in this realm draw the notice of patrons with their catalog of amenities and prerogatives. If you opt to inaugurate a monetary repository in "Mercantile Bank Kyrgyzstan," you shall have the capability to savor a full gamut of prerogatives. For instance:

  • opening and maintaining an account with this bank is free of charge;
  • there may be no minimum account balance;
  • favourable tariffs;
  • possibility to inaugurate a corporate chronicle in monetary funds;
  • Russian-speaking personnel;
  • scanty tariffs and levies;
  • possibility to make transfers in different currencies (EUR, USD, RUB, KZT, CNY.

Financial institutions in Kyrgyzstan provide both foreign inhabitants and citizens of the nation with the facility of distant administration of their prevailing and alternative accounts. Possessing online or mobile fiscal management at their disposal, account possessors do not necessitate to journey to the bank for financial disbursements. They can execute fiscal disbursements, scrutinize their account equilibrium, perform card dealings, and so forth from any locale on the planet, granted they possess an online connection. This permits the account possessor to consistently discern the account equilibrium and scrutinize all executed transactions.

How to inaugurate an account in the Kyrghizstan Commonwealth?

Should you contemplate the possibility of commencing a corporate ledger in Kyrgyzstan, it is advisable to retain cognizance that the nation's lawful and regulative structure stipulates a constraint on ledger enrollment for aliens whose undertakings are connected to consultancy amenities, wagering, and alternative precarious pursuits.

As an illustration, for the purpose of inaugurating a financial repository with Optimal Banking, a foreign inhabitant shall necessitate:

  • petition and interrogatory for the legatee;
  • excerpt from the mercantile ledger;
  • an intrinsic manuscript declaring the sanction of the individuals who tendered the exemplar autographs;
  • a mandate for the individual who shall endorse the banking records;
  • fiscal registry;
  • exemplar autographs;
  • protocols of consortium.
Upon electing to commence a corporate ledger with Optima Bank, be forewarned that, if deemed requisite, the bank might necessitate supplementary manuscripts or enlightenment from the patron.

What do I need to inaugurate a commercial establishment within Kyrgyzstan?

For the purpose of initiating an account with a regional bank, a foreign entity not residing locally shall be obliged to furnish the monetary establishment with attested duplicates of authenticated records. The papers must be presented in the Kyrgyzstani dialect. Conversion into the Russian language is likewise permissible. Kindly be advised that the translation necessitates notarization.

It is pivotal to observe that the roster of manuscripts might diverge contingent on the stipulations of a distinct bank. Nevertheless, as precedent demonstrates, the typical inventory typically encompasses such entities as:

  1. The plea document of the elected bank;
  2. Excerpt from the mercantile ledger, denoting the enrollment of the corporation;
  3. Verdict of the governing body concerning the purpose to inaugurate an account for the corporation with the requisite autographs;
  4. Particulars about the recipients;
  5. Exemplar autographs with impression (attested);
  6. Statutes of Association (duplicate to be validated by a notary);
  7. Particulars regarding the principals of the corporation and the account administrator;
  8. Verification of the pertinent license (if demanded for your genre of pursuit);
  9. A document affirming the authorization of the account possessor;
  10. Mandate of authority for the account administrator.


So, most of the banks of the Kyrgyz Republic work with non-resident companies upon submission of the required documentation. If you wish to expand your opportunities and find new markets for international co-operation in order to attract partners and potential clients, you can contact us for advice on issues of interest to you. If you intend to open an account in Kyrgyzstan, please fill in the form below to book a personal consultation on this topic.

We can provide support services in opening an account with Demir Bank, RSK Bank or other financial institution of the country.

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