Tamchy SFIT gets a managing company and prepares for launch

At its first meeting, the Management Council of the Tamchy Special Financial Investment Territory (SFIT) appointed its leadership. Ayaz Baetov (Minister of Justice) was elected Chair of the Council, with Ali Ijaz Ahmad and Bakyt Sydykov (Minister of Economy and Commerce) serving as Deputy Chairs.

These decisions marked the transition from regulatory preparation to operational readiness for the Tamchy SFIT. The new leadership faces the task of establishing a fully-fledged managing company before approaching prospective residents.

The meeting also approved the financial center’s development plan, internal operating regulations, and the first set of regulatory documents. The managing company has been tasked with finalizing the development of a comprehensive regulatory framework, preparing a service ecosystem for residents, and establishing an International Dispute Resolution Center, which will consider disputes based on common law principles.

The managing company is now operational, after the Council appointed Talantbek Imanov as its head. The managing company will serve as the key body of the SFIT: it will handle resident registration, licensing, and infrastructure development across an area of approximately 6,000 hectares.

As regulatory mechanisms are launched, the center is working on expanding its team. Qualification requirements for key positions have been defined, and applications are now being accepted for core roles. Recruitment is underway across the entire center, including the selection of the chairperson and judges for the International Dispute Resolution Center with internationally recognized qualifications. The search is ongoing for candidates with international backgrounds, who will strengthen the Council and make its original composition more diverse.

In the summer of 2026, the first SFIT business center will open on Lake Issyk-Kul, which will house the managing company’s offices. This will mark the official beginning of engagement with the business community and the acceptance of the first bids from would-be tenants.

“‘Tamchy’ SFIT is being established as a favorable jurisdiction for international capital directed toward Central Asia based on English common law, supported by an independent judiciary, and meeting the standards that investors expect from leading financial centers,” said Ayaz Baetov, Chairman of the Council.

“Issyk-Kul is located at the crossroads of the region’s largest markets — Central Asia, China, and the Middle East. At the same time, the nearest international-level financial center is thousands of kilometers away. Companies choose jurisdictions with transparent rules, professional teams, and independent arbitration. This is precisely the infrastructure we are building here from scratch — as a critical link to support the region’s growing economic integration,” said Ali Ijaz Ahmad, Deputy Chairman of the Management Council of the Tamchy SFIT.