Kazakhstan Financial Licenses
✓A Financial Company providing financial services to its clients worldwide either as a Payment Service Provider (PSP), Electronic Money Institution (EMI), Foreign Exchange/Brokerage (FX), Cryptocurrency Exchange, all with the official permit and accreditation from the Republic of Kazakhstan's Ministry of Finance and the Central Bank of Kazakhstan (the corporation and its permit could be verified by all interested parties on http://stat.gov.kz, which is the official site of the Republic of Kazakhstan's Government).
✓ Clients could be serviced on a worldwide basis; no need for a local office, all company's activities may be conducted overseas. Also, local Registered Office, Resident Agent, and a local Kazakh Director are included in the package.
✓ Applicable tax rate of 20% on the net profits (it could be "mitigated" down to almost nothing, by outsourcing the licensed company's internal activities to third parties, we could consult you on that). Also, accounting/auditing of the company's fiscal affairs should be conducted in Kazakhstan by an accredited locally-certified accountant (we can introduce you to the right party for that).
✓ 100% foreign ownership permitted
✓ The official permit and financial company setups in Kazakhstan from the country's official regulator to explicitly conduct those activities (either as a PSP, EMI, FX/Brokerage, crypto, etc) should be allowing you to work with overseas clients, third parties, other providers, and another prospective client base for your business. Regarding cryptocurrencies activities, the following could be hosted: exchange; mining; ICO launch; token distribution; crypto trading, etc.
✓ No paid-in capital is required
PERMITTED ACTIVITIES OF A KAZAKHSTAN FINANCIAL COMPANY:
- Payment processing
- E-wallet services
- Cryptocurrency Exchange
- Forex/Brokerage & securities
- Financial consulting to third parties
- Depository Agent's activities for third parties (other Banks, PSPs, etc)
- Cryptocurrency ICO launches (if done through a third party issuer)
- Merchant Account services
- Issuing of debit cards via Mastercard / VISA Card through Principal Members
- Hosting of trading platforms (FX, cryptocurrency, etc)
- Offshore FX
- Offshore Crypto Trading
- Software Development
REQUIRED PERSONAL DOCUMENTS OF THE APPLICANT:
(1) Notarized passport copy with Apostille (passport must still be valid for at least 6 months)
(2) Power of Attorney (POA) undersigned in witness of a Notary Public with Apostille - you will receive from us via email draft copy
(3) Due Diligence Questionnaire and brief business description - you will receive from via email
If you are residing in a country that is not a member of the Hague Apostille Convention, an over-legalization of the Supreme Court or Ministry of Foreign Affairs or other similar court is usually required.
The time-frame for setting up the company, obtain the licenses, open the bank accounts is usually seven to eight weeks, after duly receiving all applicable documentation from the client.
PROCEDURE TO BE FOLLOWED:
✓ STEP #1: Documents set-up:
Submit a simple high-resolution passport scan and the Due Diligence Questionnaire. Our lawyer will prepare the Power of Attorney (POA). With this document and your passport, you visit your local Notary Public and let them certify as True Copies of the Originals and then also obtain an Apostille. Courier then all originals to the address of our legal partner in the Republic of Kazakhstan that we will provide you.
✓ STEP #2: Company incorporation & documents set-up:
The company formation takes usually one week until all filed documents are available and the company is entered into the Commercial Register. The legal partner in the Republic of Kazakhstan that works via this Power of Attorney is responsible for the bank account opening and corporate set-up.
Also, the preparations of business description in the Russian language, the set-up of application forms and all relevant information in order to become a licensed entity with Permit from the National Bank of the Republic of Kazakhstan is being done simultaneously.
Once the company is being entered into the Commercial Register you will receive a link in order to be able to verify its existence and registration. By entering into the Commercial Register, the company should be allocated a unique BIN number (Business Identification Number).
✓ STEP #3: Obtaining the license
After registering the company, opening the bank accounts, the licensing application process with the National Bank of Kazakhstan should be initiated. This process should be taking approximately four weeks, and once the license is being received you'll then be able to start trading and conducting your business as a service provider. after company formation the entity is becoming as a financial services provider with the Ministry of Economy. After this the lawyers will prepare an update for the National Bank and 10-14 days later the regulator will issue the Accreditation / Acknowledgement letter stating the detailed business activities such as PSP, FX.
✓ STEP #4: Sending all the documents to you (corporate, licensing, banking)
All corporate documents (including certified translations in English), banking documents, Digipass, debit card, also licensing documentation from the Central Bank should be shipped to you via international courier service.
ADDITIONAL OPTIONAL SERVICES:
We can also provide the following (additional fees should be applying here)
✓ Obtaining a Legal Entity Identifier Number (LEI
✓ Virtual Office Service (Tel Aviv, Moscow, Bangkok, Singapore, Kuala Lumpur, New York, Sao Paulo)
✓ Additional Bank Accounts (Costa Rica, Republic of Kazakhstan)
✓Payment Service Provider (PSP) in Hong Kong for SWIFT transactions
✓ Introduction to a European Cryptocurrency Exchange (crypto/fiat and vice versa)
BANKING PARTNERS IN THE REPUBLIC OF KAZAKHSTAN: