Estate agents in Kyrgyzstan may be required to register and obtain a certificate

Estate agents in Kyrgyzstan may be required to undergo registration and certification. The relevant bill was approved at first reading by the Parliament’s Committee on Finance, Budget, Entrepreneurship and Competition on 15 September.

According to the committee, the initiative aims to increase transparency in the property market, protect consumer rights and reduce underground economic activity.

Deputy Minister of Economy and Commerce Benazir Nurlanova stated that the bill provides for the compulsory registration and certification of individuals engaged in estate agency activities.

During the debate, MPs raised issues concerning cases of fraud against citizens in property transactions and the letting of flats. They also discussed the need to avoid excessive bureaucracy and to designate a state body responsible for enforcing the new requirements.

The bill has so far only passed its first reading.