The President of Kyrgyzstan commented on legalization of property. Sadyr Japarov told about his experience on Facebook.
He recalled that last year a law on legalization of income was adopted. This was done so that wealthy citizens of the country did not keep their capital abroad, but brought it to the Kyrgyz Republic, did not hide their cash in foreign banks, but transferred the money to the republic and placed it in domestic banks, so that these funds could be used for the benefit of the economy.
The law will be in force until July 1, 2024. After that, it will lose its force.
«It is no secret that all of us (not ordinary citizens, but above-average businessmen) have registered our property in someone else’s name. In addition, the richest citizens of our country still keep their billions in foreign banks. We have many such rich people. The answer to the question why they hide their wealth abroad is simple. So far, the source of origin of big money and the amount of taxes paid on these funds have raised many questions,» the head of state said.
He also once again drew attention to the fact that now the law creates the possibility of legalization, so that such a problem does not arise.
Sadyr Japarov told what property he legalized and how much he paid to the budget.
In 2005, he came to the Parliament as a people’s elected representative from the business community. The President published a photo of the building at 96, Ibraimov Street, Bishkek. Sadyr Japarov said that it was started to be built in 2005 and finished in 2010. After the April revolution, it was used as the headquarters of Ata-Jurt party.
«Later we were persecuted for being in opposition, and until 2020 this building was not fully functioning. But despite this, we paid taxes on the land and the building faithfully. In 2020, I used it as a headquarters during the presidential election. Since then, it has been fully operational. Of course, as I said above, my buildings used to be registered to other people. I have now registered them under the legalization law. I wanted to set an example and was the first to legalize my property,» the head of state wrote.
In short, the value of my property is about $20 million. I paid the state one million soms for legalization. This is required by law. I have no savings abroad. And if I had, I would have transferred them to our banks.
Sadyr Japarov
«Now I would like to appeal to our wealthy citizens. Take advantage of this law, register, legalize your property and transfer all the money you keep in foreign banks to our banks. Based on this law, the state guarantees 100 percent safety of your capital. Let your funds work for the benefit of our republic. This is the benefit for the state. There is no other goal. There will be no questions to you. From now on, we will use all the resources of the state to create ideal conditions for the business environment and foreign investors,» he concluded.
