The Ministry of Natural Resources emphasizes the importance of complying with Kyrgyz legislation in regulating relationships in the field of subsoil use. According to the Ministry's press service, under the Law on Subsoil, the transfer of a license is not possible until two years have passed from the date of concluding the license agreement for work.
It is noted that the transfer of a license to another person as a result of the transfer of rights is equated to obtaining a license and entails the payment of a bonus as provided for by tax legislation. However, the transfer of a license is only possible if the subsoil user does not have any outstanding debts for the payment of bonuses, royalties, and fees for subsoil use.
In accordance with Article 351 of the Tax Code, the transfer of the right to use subsoil to another person, except in cases of inheritance or reorganization of a legal entity that does not result in changes to the composition of participants (shareholders) and/or shares (stocks) of the charter capital, is subject to taxation, as highlighted by the Ministry of Natural Resources.
Failure to pay the bonus and/or license fees within the specified period leads to the suspension and subsequent termination of the right to use subsoil. According to the regulations on the licensing procedure for subsoil use, the commission for subsoil use licensing is responsible for considering amendments and/or additions to license agreements.
The Ministry of Natural Resources, Ecology, and Technical Supervision recommend strictly adhering to the requirements of Kyrgyz Republic legislation.
