A high-altitude
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www.kyrgyzbusiness.com

Bullion Transactions With No Restrictions

  • Kyrgyzstan is a unique ex-USSR country where ownership of, and trading in, physical gold is liberalized to the highest possible mark.
  • Anyone (residents and non-residents) can buy and hold physical gold. The National Bank of the Kyrgyz Republic encourages individuals to buy gold bars by holding daily sales (the price being 2-3% higher than the last night’s London fix) and by offering to buy back any gold bars originally purchased from the National Bank, at the current market price.
  • Standard gold bars are also available from several commercial banks holding a precious metal trading license.
  • There is no VAT on physical gold (unlike Russia).
  • Export of locally purchased gold bars is possible, provided they are declared at the customs.
  • Purchases of physical gold are also possible via forward contracts on the local commodities exchange, with the price to be settled by bank transfer (i.e. if a foreign national or entity wants to transfer the price from abroad and collect the gold in the country).
  • Local financial houses may offer gold-linked investment instruments.

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