The President of the Kyrgyz Republic, Sadyr Japarov, has inaugurated the Tamchy Special Financial Investment Territory (SFIT), a new international jurisdiction on the shores of alpine Lake Issyk-Kul. The launch establishes a financial center designed to offer international standards supported by regulatory freedom and long-term investment stability, aiming to attract global capital through a neutral platform grounded in English common law. The territory is expected to contribute $20 bn to the country's economy between 2026 and 2035.

The first residents of Tamchy, who joined during the launch ceremony, were companies from South Korea, the UAE, Hong Kong, Switzerland, and Kazakhstan. Twenty companies from across the globe are currently in the process of establishing residency at the SFIT. The ceremony culminated with President Japarov symbolically activating a geotag-shaped switch to mark the territory's entry onto the global financial map.

Tamchy SFIT operates on the principles of English common law and features its own financial regulator, an International Dispute Resolution Centre, and a single-window digital registrar. A special tax regime guarantees a 0% rate of tax on profits, dividends, capital gains, and VAT for 49 years. The jurisdiction also allows 100% foreign ownership and unrestricted profit repatriation.

Key Features of Tamchy SFIT

Covering an area of about 6,000 ha, Tamchy SFIT includes a fully operational business center, with hotels and residential buildings currently under construction. The Issyk-Kul International Airport is located within walking distance of the territory. By 2035, Tamchy aims to attract around 4,000 resident companies and create over 10,000 jobs.

"Changes in the global economy are driving demand for new centers of business activity where international standards are supported by true freedom of innovation and long-term investment. Tamchy SFIT is our national project and our response to the needs of international businesses. We are building a financial center from scratch — with an independent court, a modern regulator, and rules that won’t change with shifting trends," said President Japarov.

Ali Ijaz Ahmad, First Deputy Chairman of the Tamchy SFIT Management Council, highlighted the territory's strategic positioning. "Benchmarked to international gold standards, grounded in English common law, and positioned at the intersection of five EAEU economies and the Eurasian corridor, it offers a jurisdiction that is neutral, independent, and built to last," he said.

Seo Dong Hyun, CEO of Serim, was among the first executives to establish a presence in Tamchy SFIT. "Over the past thirty years of investing in the semiconductor industry, high technology, and energy, I have come to appreciate that legal certainty and trust in the regulatory system are the foundation of long-term investment. These are the very principles on which the Tamchy SFIT was established. What is particularly remarkable is that a project of this scale was delivered in just one year—faster than in any other jurisdiction I know. Today, I registered my family holding company here. For me, this is not an investment for years, but for generations," Hyun stated.