Resolution of the Board of the National Bank of the Kyrgyz Republic No. 13/2 on Establishing Requirements for Defining Subjects and the List of Offshore Zones

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Date of creation: 2025-08-20

Registered in the Ministry of Justice of the Kyrgyz Republic

April 22, 2003. Registration number 37-03

RESOLUTION OF THE BOARD OF THE NATIONAL BANK OF THE KYRGYZ REPUBLIC

Bishkek, April 16, 2003 No. 13/2

On establishing requirements for defining subjects and the list of offshore zones

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of November 18, 2005 No. 34/4, March 2, 2006 No. 5/7, November 16, 2012 No. 43/1, February 10, 2016 No. 7/2, June 15, 2017 No. 2017-P-12/25-12, August 14, 2019 No. 2019-P-12/42-1, November 30, 2022 No. 2022-P-17/74-6, December 4, 2024 No. 2024-P-17/64-5-(BS))

In order to ensure the safety, reliability, and stability of the banking system of the Kyrgyz Republic, protect the interests of depositors and other creditors of commercial banks, ensure transparency of the ownership structure of banks, based on Articles 16 and 26 of the Law of the Kyrgyz Republic "On Banks and Banking Activity", and to prevent the conduct of operations related to the financing of terrorist activities and the legalization (money laundering) of criminal proceeds, the Board of the National Bank of the Kyrgyz Republic resolves:

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 30, 2022 No. 2022-P-17/74-6)

1. Establish that subjects of offshore zones are banks, subsidiary banks, holding companies, financial and credit organizations, legal entities, and individuals registered or residing in states or territories that provide for a preferential tax regime and/or do not provide for full disclosure and/or provision of information to banking supervision authorities in accordance with the requirements and recommendations of the Basel Committee on Banking Supervision.

2. In order to carry out regulation and supervision of the activities of commercial banks and other financial and credit organizations (hereinafter referred to as commercial banks), approve the attached list of states and territories providing for a preferential tax regime and/or not providing for full disclosure and presentation of information to banking supervision authorities (offshore zones). Changes and additions to this list may be made by the decision of the Board of the National Bank of the Kyrgyz Republic.

3. (Lost force from the moment of entry into force of the Resolution of the Board of the National Bank of the Kyrgyz Republic of March 2, 2006 No. 5/7)

4. The Methodology and Licensing Supervision Department:

• jointly with the legal department to carry out state registration of this resolution in the Ministry of Justice of the Kyrgyz Republic;

• after state registration in the Ministry of Justice of the Kyrgyz Republic, jointly with the Department of External and Public Relations, publish this resolution in the official publication of the National Bank of the Kyrgyz Republic and bring it to the attention of commercial banks, JSC RSBC, and regional departments of the National Bank of the Kyrgyz Republic;

• prepare proposals for bringing the normative legal acts of the National Bank of the Kyrgyz Republic into compliance with this resolution and submit them for consideration by the Board of the National Bank of the Kyrgyz Republic.

5. This normative legal act applies to banks and other financial and credit organizations operating on the territory of the Kyrgyz Republic and enters into force after the expiration of 30 calendar days from the moment of publication in the official publication of the National Bank of the Kyrgyz Republic.

(In the edition of the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 16, 2012 No. 43/1)

6. From the moment of entry into force of this resolution, recognize as having lost force the Resolution of the Board of the National Bank of the Kyrgyz Republic of April 26, 2002 No. 20/12 "On requirements for defining subjects of offshore zones".

7. Commercial banks and other financial and credit organizations are required to bring their activities into compliance with this resolution by the time of its entry into force.

8. Control over the implementation of this resolution is entrusted to the Deputy Chairman of the National Bank of the Kyrgyz Republic K.Sh. Sharshekieva.

Chairman of the Board of the National Bank of the Kyrgyz Republic

U. Sarbanov

Approved

by the Resolution of the Board of the National Bank of the Kyrgyz Republic

of April 16, 2003 No. 13/2

LIST

of states and territories providing for a preferential tax regime and/or not providing for full disclosure and presentation of information to banking supervision authorities (offshore zones)

(In the edition of the Resolutions of the Board of the National Bank of the Kyrgyz Republic of November 18, 2005 No. 34/4, November 30, 2022 No. 2022-P-17/74-6, December 4, 2024 No. 2024-P-17/64-5-(BS))

1. Anguilla

2. Antigua and Barbuda

3. Aruba

4. Barbados

5. Belize

6. Bermuda Islands

7. British Virgin Islands

8. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 4, 2024 No. 2024-P-17/64-5-(BS))

9. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of December 4, 2024 No. 2024-P-17/64-5-(BS))

10. Grenada

11. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 30, 2022 No. 2022-P-17/74-6)

12. Principality of Andorra

13. Principality of Liechtenstein

14. Republic of Lebanon

15. Macao (People's Republic of China)

16. Republic of Maldives

17. Monaco

18. Montserrat

19. Independent State of Samoa

20. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 30, 2022 No. 2022-P-17/74-6)

21. Niue (New Zealand)

22. Labuan Island (Malaysia)

23. Cayman Islands (Cayman Islands)

24. Cook Islands (New Zealand)

25. Turks and Caicos Islands

26. Republic of Vanuatu

27. (Excluded in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 18, 2005 No. 34/4)

28. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 30, 2022 No. 2022-P-17/74-6)

29. Republic of Liberia

30. Republic of Mauritius

31. Republic of Malta

32. Republic of the Marshall Islands

33. Republic of Nauru

34. Republic of Palau (Belau)

35. Republic of Panama

36. Republic of Seychelles

37. San Marino

38. Saint Vincent and the Grenadines

39. Saint Lucia

40. Commonwealth of the Bahamas

41. Federation of Saint Kitts and Nevis

42. (Lost force in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic of November 30, 2022 No. 2022-P-17/74-6)

43. Curaçao

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