Tightening requirements for jewelers in Kyrgyzstan
The government of Kyrgyzstan has initiated changes to the rules for participants in the jewelry industry. Resolution No. 59, published on February 4, introduces a number of new requirements for sector workers.
On one hand, the new rules promote increased transparency: jewelry companies are now required to provide lists of their employees and confirm the presence of assets for accounting purposes.
On the other hand, strict restrictions and enhanced control over the import and export of uncut diamonds have been introduced. Companies must submit their annual plans in advance.
The changes also affect retail: the sale of jewelry is no longer permitted in shopping centers and markets based on a patent.
Additionally, the threshold for mandatory identification for transactions involving precious metals has been raised from 10,000 to 50,000 soms for consumers.
If a jewelry company does not conduct business or uses funds for non-targeted purposes, it will be excluded from the register.
The government is confident that these measures will help identify unscrupulous market participants while maintaining convenience for ordinary buyers.
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