Kyrgyzstan bank account

[Outlander]

Upon a visit to Bishkek I decided it'd be more fun to open a bank account than buying souvenirs, so after 1h I ended up with a new personal account at BAKAI Bank.

Pros:
- Multicurrency (USD, EUR, RUB, etc.)
- Good Internet Banking (EN/RU)
- USD debit card
- USD cash withdrawals in ATMs in Kyrgyzstan and worldwide
- No residency proof required
- No maintenance fees

Cons:
- Kyrgyzstan isn't part of the IBAN system for EUR accounts (so it doesn't seem to work with Transferwise)
- Wires through correspondent banks

I went there for a personal account and didn't want to ask a lot of questions but I did ask specifically if they'd open an account for an offshore company and they said "Yes, but that's a lot more documents". I forgot to ask if they'd open it remotely but maybe someone in the forum knows?

In general I had a good impression of the capital and of the bank, but I know it's Kyrgyzstan, an ex-USSR republic with rampant corruption and strong ties to Russia. I opened it mostly for fun, like a solution in search of a problem.

Does anyone have any experience with Kyrgyz banks or would like to comment?

 

[LastHero]

Hi, I also thinking about Kirgiztan bank account for UK Llp. If somebody have experience to open it,please share.

 

[MrTony]

For remote opening there is only one possibility - only through POA for the local lawyer.
You need to translate all your corporate docs into Russian language and issue POA and signature card in Russian language and notarized it.

 

[LastHero]

MrTony said:
For remote opening there is only one possibility - only through POA for the local lawyer.
You need to translate all your corporate docs into Russian language and issue POA and signature card in Russian language and notarized it.
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If you have some body local for it, please share.

 

[MrTony]

I am trying to open an account for almost 6 months. But the docs still under review. If I finally open - I will share. But I am losing hope.

 

[Martin Everson]

Outlander said:
I went there for a personal account and didn't want to ask a lot of questions but I did ask specifically if they'd open an account for an offshore company and they said "Yes, but that's a lot more documents". I forgot to ask if they'd open it remotely but maybe someone in the forum knows?
Click to expand...

No idea on remote part but opening requirements for non-resident companies and persons are below also.

https://www.bakai.kg/media/no_rez_gzmID0z_ENG.pdf

P.S How on earth did you end up visiting Kyrgyzstan?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Outlander]

Martin Everson said:
P.S How on earth did you end up visiting Kyrgyzstan?
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I believe most people in this forum have a mindset of being open to exploring and discovering the world. Seeing/trying for yourself is more important than blindly accepting what other people say.

I've visited a lot of countries and Kyrgyzstan is easily one of my top 3 destinations for nature. And my knowledge before the trip was next to zero.

For folks who are into mountain climbing - Kyrgyzstan has one of the few remaining unclimbed peaks on Earth.

 

[Outlander]

MrTony said:
I am trying to open an account for almost 6 months. But the docs still under review. If I finally open - I will share. But I am losing hope.
Click to expand...

Did you use a local agent with a PoA?

 

[LastHero]

[QUOTE = "Outlander, post: 106519, member: 13638"]
Я верю, что большинство людей на этом форуме настроены быть открытыми для изучения и изучения мира. Видеть / пытаться для себя важнее, чем слепо принимать то, что говорят другие люди.

Я побывал во многих странах, и Кыргызстан легко входит в тройку лучших мест для отдыха на природе. И мои знания до поездки были близки к нулю.

Для людей, которые увлекаются альпинизмом - в Кыргызстане есть один из немногих оставшихся непогруженных пиков на Земле.
[/ QUOTE]
I mete and talk people from Kirghistan before, but never been in the country, and now I close to this trip, couse I have not a lot of options for opening account for my LLP (UK). Thinking about Belarus too, I talked with few banks from Minsk and they told me what its possible to open account for non resident company, but thay cant open account for o companies of Belarusian ofshores Black list

 

[LastHero]

MarioSmith said:
Yes, UK LP are possible to open.
We have opened about 8 for our clients and this went well.
The problem there is that there are very few really experienced lawyers for that - the process can be long because their service level is quite bad. Only after few cases we found a good one. Also - their services are overpriced, they charge a lot of remote opening.
[/ QUOTE]
Hi. You talking about Belorus or Kirghiz Banks?
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