Bishkek, Nov. 25, 2020 / Kabar /. From Nov. 24, 2020, a draft law “On Amendments to the Law of the Kyrgyz Republic On Citizenship of the Kyrgyz Republic” is being submitted for public discussion.
The bill was prepared with the aim of attracting funds to pay off the external debt of Kyrgyzstan through the mechanism of granting Kyrgyz citizenship to foreign citizens, in return for investments. At the same time, foreign citizens should not be citizens of states with which the Kyrgyz Republic has common borders. In addition, a foreign citizen is obliged to live in the Kyrgyz Republic for at least 3 years, must be fluent in Kyrgyz or Russian.
This bill proposes to enable foreign citizens to acquire citizenship of the Kyrgyz Republic in a simplified manner in case of payment of USD 100 thousand to a special account for the accumulation of funds to pay off the external debt of the Kyrgyz Republic.
About 30 countries in the world provide citizenship in return for investments, and this number of countries is only growing. Similar laws exist in a number of countries: in Saint Kitts, Cyprus, Grenada, Jordan, Moldova. etc.
If this Law is adopted, Kyrgyzstan will become one of the first countries in Central Asia to provide citizenship in return for investments.
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