ASTANA INTERNATIONAL FINANCIAL CENTER (AIFC)
Unique center on the economic map of the world, allowing enterprises and financial institutions to enter the Eurasian markets, providing a friendly ecosystem of quality infrastructure and ensuring independent regulation. By combining the best practices and opportunities offered by similar organizations around the world, from New York and London to Dubai, Hong Kong and Singapore, the AIFC offers the most successful solutions and technologies in addition to the existing advantages. The regulatory framework and preferential tax regime attract foreign organizations to take advantage of the economic development and long-term prosperity of Eurasia.
AIFC ACTS: 4 KEY FACTS
◼ A high-quality set of rules and regulations, understandable and attractive for foreign investors
◼ Meets the global trends of the leading jurisdictions
◼ The AIFC Acts are developed on the basis of common law (the laws of England and Wales) and comply with the standards of the world's leading financial centers
◼ Independent Court of the AIFC and IAC, flexible approach to dispute resolution
In order to become a member of the AIFC, an entrepreneur can:
◼ establish a new company within the framework of the AIFC;
◼ register a foreign company (partnership) established under any jurisdiction other than the AIFC as a recognized company;
◼ change the country of registration (change domicile) of a legal entity established in another jurisdiction.
THE ADVANTAGE OF AIFC
1. Flexibility in regulating corporate issues:
◼ no requirements for the minimum amount of the authorized capital for private companies;
◼ flexible accounting of rights to shares of companies (possibility to independently maintain the register of shareholders of a private company);
◼ the possibility of issuing shares of different classes by the companies;
◼ lack of the preemptive right to purchase shares of the companies (determined by shareholders independently), the possibility of concluding a shareholder agreement;
◼ lack of strict regulation of approval of transactions, which allows the company to consider these issues independently (reflection of conditions in the charter);
◼ flexibility of approach to the powers of the management bodies of private companies (open list, freedom to define them in the charter).
2. The multiplicity of foundations forms. Possibility of creating trusts and private equity funds.
3. Flexible conditions for re-domiciliation to the AIFC territory.
4. Advantages of creating a company in the legal form of a private company in the AIFC:
◼ successful business model in the world for a long period of time;
◼ a private company is one of the most preferred organizational form of company registration in the AIFC;
◼ limited liability of shareholders;
◼ minimum regulatory burden;
◼ asset protection;
◼ flexible corporate governance structure.
5. The possibility of creating a holding.
6. The possibility of creating a trust.
IIT and CIT benefits for AIFC participants on income received from the provision of:
◼ financial services - Islamic bank banking services; reinsurance services and insurance brokerage services; investment management services for investment funds assets; brokerage and (or) dealer services, underwriting services; other financial services determined by the AIFC acts *;
◼ ancillary services - legal, auditing, accounting, consulting services provided to the bodies and participants of the AIFC, providing financial services provided for by the Constitutional Law.
AIFC participants providing financial and ancillary services provided for by the Constitutional Law are exempted from property tax and land tax for facilities located on the territory of the AIFC.
Foreigners - employees of the AIFC participant are exempted from IIT payment on income from activities in the Center under an employment contract concluded with an AIFC participant providing financial and ancillary services provided for by the Constitutional Law.
IIT and CIT benefits on income from investments in the AIFC.
◼ Income from value growth from the sale of securities that are on the official lists of the stock exchange on the date of sale, shares or share interest in the authorized capital of participants – legal entities registered in accordance with the current acts of the AIFC.
◼ Dividends on securities that are in the official lists of the stock exchange on the date of accrual, shares or share interest in the authorized capital of participants - legal entities registered in accordance with the current acts of the AIFC.
◼ Interests on securities that are in the official lists of the stock exchange on the date of accrual.
Provision of financial services and financial activities (27 types)
◼ investment activities
◼ credit activity
◼ Islamic banking and finance
◼ fund management
◼ monetary services
◼ trust services
◼ custodian activity
◼ insurance activities including takaful
◼ accepting deposits
◼ opening and maintaining bank accounts
◼ payment system management
◼ other activities
Financial Institutions and Platforms Management (8 types)
◼ exchange management
◼ digital asset trading platform management
◼ private finance platform management
◼ clearinghouse management
◼ credit crowdfunding platform management
◼ investment crowdfunding platform management
◼ multilateral trading platform management
◼ organized trading platform management
Provision of additional non-financial services to support the activities of the AIFC participants (5 types)
◼ legal services
◼ accounting services
◼ consulting services
◼ auditing services
◼ credit rating services