Kyrgyzstan

Kalikova & Associates

"The leader in the market and the first choice for international companies and law firms that do not have a local presence"

Chambers Global

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Moldova Moldova Moldova Moldova

71, Erkindik blv.

Bishkek

Tel.: +996 (312) 666-060

Fax: +996 (312) 662-788

www.k-a.kg

6. Recommendations on Companies’ Compliance Policies

As a former USSR country and being similar to its neighboring countries, the Kyrgyz Republic is at the initial stages of developing and implementing corporate anticorruption regulations and compliance procedures.Only a small number of companies, which are mainly large international or global corporations doing business in the Kyrgyz Republic have introduced corporate anticorruption policies. 
Taking into account the latest trends in the Kyrgyz Republic aimed at strengthening the anticorruption regulations it is highly recommended that all companies operating in the Kyrgyz Republic develop corporate anticorruption policies and ensure that these are implementated by executives, employees and representatives, and especially by companies that often deal with licensing and permitting, state procurement and government contracts.
Such policies shall among other things:

  • provide detailed description of types of anticorruption violations, legal restrictions imposed on government officials to accept any gifts and other benefits and potential;
  • provide list of persons subject to anticorruption regulations;
  • provide detailed description of acts which might be common business practice, however are considered anticorruption offences such as gifts, invitations to cultural and sport events, souvenirs and company’s promotional materials and similar;
  • define potential gravity of liability for the Company, government official and the employee who is in violation of anticorruption regulations. 

Each employee should be provided and acquainted with the company’s anticorruption policies at all times. It is also important that companies regularly update their anticorruption compliance policies in accordance with developments in the anticorruption regulations in the Kyrgyz Republic.