Today the situation in the microfinance market is in favor of microfinance companies that have more opportunities due to their legal status. In view of the above, in recent years among the companies aimed at developing and expanding the range of financial services there has been a tendency towards transformation from a microcredit company (MCC) to a microfinance company (MFC).

Transformation from MCC to MFC will allow your company to get the opportunity:

It should be noted that the transformation process is quite complicated, requiring appropriate qualifications and experience. Our experts will help you manage all risks and prepare all necessary documents in accordance with the requirements of the National Bank of the Kyrgyz Republic (NB KR).

Our lawyers have significant and real experience in comprehensive support of transformation from the MCC to the MFC.

Legal services for transformation from the MCC to the MFC are included:

1. informational-advisory support of the transformation process
2. drafting of all constituent documents as required for MFC
3. preparation of all documents for receiving a consent from the National Bank of the Kyrgyz Republic
4. reregistration with the justice authorities, including reregistration of existing branches (if necessary);
5. registration of constituent/additional issue of shares (if necessary);
6. preparation of all documents for obtaining a license from the National Bank of the Kyrgyz Republic;
7. reregistration with tax authorities;
8. reregistration with social fund;
9. discard of old seals and making new seals and stamp.

From the link below you can also find a comparative legal analysis of the MCC and MFC is conducted by our lawyers.

Still have questions? Contact our lawyers and get a free consultation.