Regulatory Alerts2022-12-28 | 111958Regulation on the Registration of Accounts and Deposits of Residents of the Kyrgyz Republic Opened in Foreign Banks
The National Bank of the Kyrgyz Republic issued this Regulation to establish a unified procedure for residents, including legal entities and foreign branches, to register foreign currency and metal accounts and deposits held in foreign banks. It requires residents to submit a registration notification within five calendar days of account opening, maintain quarterly balance reports due by the 15th day of the following month, and provide additional data upon request to ensure accurate Balance of Payments compilation. The Regulation further guarantees the confidentiality of submitted information and establishes administrative liability for residents who fail to provide, submit late, or report inaccurate data.
Share