Real estate in Issyk-Kul region of Kyrgyzstan will be sold to foreigners. The bill was approved by deputies of the Parliament.
Foreigners will be allowed to purchase guest houses, resorts, holiday hotels, cottage villages, guest houses and other facilities located within the biosphere territory of Issyk-Kul lake, regardless of the form of ownership and legal form of business activity, providing recreational, guest, health services, accommodation, recreation and tourism.
The bill, which caused a lot of controversy in Parliament, was adopted by the Parliament in the third reading.
The author of the document, deputy Balbak Tulobaev, wrote that in the current version of the legislation, recreational facilities, which in their essence are predominantly investment attractive, cannot be owned by foreign persons.
At the same time, there is a need to build innovative resort and recreational facilities and create a fundamentally new infrastructure that keeps up with the times. This is possible through the formation of a highly profitable and competitive tourism industry that can satisfy people’s needs for tourism services, generate income and create new jobs. This is directly related to attracting investments in the development of the resort and recreational area of Issyk-Kul lake, including foreign ones.
A number of deputies believed that, along with the objects, sale of land plots to foreigners will be possible, which is prohibited in Kyrgyzstan. And they demanded a linguistic examination that would give a clear definition of «recreational facilities.»
Amendments were adopted to the Law «On the sustainable development of Issyk-Kul ecological and economic system».
