How to register a business in Astana International Financial Centre
The Astana International Financial Centre (AIFC) was launched on the 5 July 2018. It is a financial hub located in Astana, Kazakhstan. The aims of AIFC are to attract investment and bring in clients from Asia, Europe and the Middle East.
There are several bodies within the AIFC. The AIFC Management Council defines the hub’s strategic direction; the AIFC Authority is responsible for the development and promotion of the AIFC; the Astana Financial Services Authority (AFSA) regulates the financial services; the AIFC Court has its own legal system based on the principles of English law; the AIFC International Arbitration Centre reviews disputes; and the AIFC Bureau for Continuing Professionals Development is responsible for human capital development.
AIFC offers a favourable environment to appeal to Western markets. Preferential tax regime, common law framework, simplified visa and labour regime are all the benefits of AIFC. Businesses that want to have their presence within the AIFC should submit an application form to AFSA.
To become an AIFC Participant an applicant shall:
- Incorporate a new entity in the AIFC; or
- Register a Foreign Company/Partnership incorporated in any jurisdiction other than in the AIFC as a Recognised Company.
GRATA International Law Firm successfully registered its client, an international company with worldwide recognition, at the AIFC. Here we are sharing a step by step guide on how to register a business in AIFC.
- Submit an application form and required documents to the Licensing and Registration Team. The documents will be assessed, and preliminary comments will be provided to the applicant.
- Pay the fees. Once the application package is finalised, the applicant should pay the incorporation/registration and commercial licence fees. The amount of fees depends on the company’s activity. Please note that the Сommercial Licenсe fee shall be paid annually.
- If the application is successful, AFSA will issue a Certificate of Registration and Commercial Licence. Please note that depending on types of activities the applicant may also file for other types of licences for additional fees.
GRATA International offers registration services to clients. We will prepare and submit the application package to AIFC on behalf of our client. They will receive constant support during the registration process and will be notified of the process of their application at each stage. Please contact Ms Ainura Takeyeva, Senior Lawyer, at email@example.com for further information or if you are interested in registering your business in AIFC.