Kyrgyzstan prolongs voluntary legislation of assets

BISHKEK. June 20 (Interfax) - Voluntary legalization of individuals' assets in Kyrgyzstan has been prolonged until the end of 2024, the presidential press service said.

"Kyrgyz President Sadyr Japarov has signed amendments to the law On the Voluntary Legalization and Amnesty of Individuals' Assets. The deadline for voluntary declaration is the period from June 9, 2023 to December 31, 2024 inclusive," the press service said.

The purpose of this law is to involve individuals' property and assets in legal economic turnover by creating a legalization mechanism by voluntary declaration of assets available as of January 1, 2023, including nominally registered to other persons or persons who are out of the country.

The law also provides that private notaries have a right to notarize special declarations of individuals' assets.

Assets could previously be declared by June 9, 2024.