Company Formation in Kazakhstan
Due to the establishment of Eurasian Customs Union many business people have expressed interest in establishing their companies in Kazakhstan
Company Formation in Kazakhstan
Recent statistical research has revealed that about 300 to 400 new foreign companies are registered every quarter in Kazakhstan. One of the reasons for this popularity is the healthy tax administration and attractive taxation system which is adopted in this country.
In case you’ve made a decision of launching your business in this country, then we’re here so that we can clarify some of the questions that may be disturbing you.
What are some of the famous types of business that you can do in Kazakhstan?
i) The limited liability partnership
The law about private enterprises in Kazakhstan outlines 3 types of Limited liability partnerships which are: small enterprises, medium enterprises, and large enterprises.
ii) Joint stock company
In this case, the closed and open joint stock companies in Kazakhstan are totally related.
iii) Branch/representative office
When it comes to accreditation terms, there’re no legal restrictions which are applied. The extent of the public due will depend on the subject of registration if he is a resident or non-resident of Kazakhstan. We also offer registration of branch/representative offices for foreign banks and licensing.
To chose an incorporation form that can suit you, you can contact us to compare the merits and demerits of business transactions and tax burdens for some incorporation forms.
The legal requirements stipulate out that any corporate entity will be assumed to be located in one place with its executive body which comprises the CEO and directors. The location data must be recorded in the unified state of the register of corporate entities. In case you wish to organize your registration through our company, then we can also offer you a legal address or to make a short-list of premises.
There’re 2 types of addresses that we offer to our clients which are:
i) Virtual office address
ii) The standard legal address which is usually used for registration only.
The virtual office address has been found to be more expensive compared to the standard legal address.
As experts in registration, we recommend all our clients to request for the virtual office service.
Kazakhstan resident or any qualified foreign can be given the position of CEO in your company. However, you should know that the Kazakhstan law outlines out provisions which are aimed at the protection of the domestic labor market. In protecting this law the Kazakhstan government has set out some annual quotas for the foreigners who wish to work in this country. Under this law, the company is required to obtain a work permit for the foreigner resident that it wishes to employ.
Therefore, if you wish to appoint a foreign as your CEO, then you must submit the work permit and other required documents to the state authorities. During the initial stage of company formation in Kazakhstan, any foreign citizen is required to have his/her work permit. If he/she does not have this permit then his/her appointment will be considered to be illegal and the company will be forced to appoint the Kazakhstan citizen into this position.
A CEO is needed in Kazakhstan during the registration of your company so that he/she can sign the required documents or interact with the customs and tax authorities so that he/she can be informed about the tax requirements. Due to these reasons our company can offer you a nominal CEO service in case you do not have one at that time.
We can also organize the registration of your company in of Astana even without a visit. However, when registering your company in Almaty the shareholders/ founders must be presented.
Company formation in Kazakhstan will takes some time. The medium and large enterprises need about 20 minutes while small business enterprises need about 5 business working days. You must also not forget the additional time that may be needed for the translation and execution of important documents.
The branch/ representative office might be done within 20 working days.
Please contact our specialists to find out more about company formation in Kazakhstan, exact time-frames and fees.