Top 10 mistakes foreigners make when opening a business in Kyrgyzstan

Short answer: 90% of problems foreign businesses face in Kyrgyzstan come from ten typical mistakes — from choosing the wrong tax regime to a poorly drafted power of attorney. All of them are free to fix at the preparation stage and expensive to fix after registration.

The list of mistakes

1. Registering on the general regime without calculating alternatives — overpaying taxes several times over.
2. A bad power of attorney. Wrong wording of powers is the number-one reason for Ministry of Justice and bank rejections.
3. A mass legal address without mail handling — missed tax authority letters.
4. Saving on the compliance package for the bank — account rejection at the last moment.
5. Ignoring reporting for a “zero” company — fines accumulate from the first month.
6. Wrong activity codes (OKED) — part of the activity falls outside the preferential regime.
7. Charter capital “for show” — banks and partners look at its size.
8. Mixing personal and business accounts — problems during audits.
9. No contracts with counterparties — expenses are not recognized.
10. Trusting “friends of friends” instead of a contractor with a contract and a fixed estimate.

We open companies in a way that avoids these mistakes: a fixed estimate, tax calculation before registration, a compliance package for the bank. Start the right way.