26 March 2021
What is the AIFC?
The Astana International Financial Center is a project initiated by the President of the Republic of Kazakhstan to create a leading financial center in the region of Central Asia, the Caucasus, the EAEU, Mongolia and Eastern Europe. The main goal of the AIFC is to increase its strategic directions, such as asset management, financial technology, Islamic finance and private banking.
The mission of the AIFC is to contribute to the sustainable economic development of Kazakhstan and the region by supporting innovative financial solutions and services by creating an environment, where the creation of financial markets is transparently ensured. Thus, the center is working to provide a complete service to attract local and foreign investors.
The AIFC is an attractive center for many foreign investors, since the values of this center are:
- English common law and an independent judiciary;
- International Financial Regulation Standards;
- Own corporate governance standards;
- Agility and risk-oriented approach of the authorities;
- Simplified visa regime;
- Tax incentives.
Why is it worth starting a business within the AIFC?
- Simplified labor regime for foreign citizens who work in registered or recognized companies within the framework of the AIFC. Also, for foreign citizens of the AIFC bodies and participants, there is a "single window" system in the AIFC Expat Center, where public services are provided to employees and family members of the employee, including assistance in finding social, medical and educational institutions for their families.
- Free exchange control is provided to bodies and participants within the AIFC, where organizations can agree in what currency it is convenient for them to work. Trades on AIX must be denominated and executed in the currency specified by the Exchange rules.
- Attractive tax regime.
- English is the official language of the AIFC. AIFC acts, litigation, protocols, all transactions to be recorded and responses to inquiries must be provided in English.
- The AIFC provides a simplified visa-free regime for up to 30 days for citizens of the OECD countries, the United Arab Emirates, Malaysia, Singapore and Monaco. Employees of bodies and companies registered within the framework of the AIFC and their family members are granted a special visa regime with an extension of up to 5 years.
How to become a member of the AIFC?
- Submit a preliminary application;
- Apply for registration;
- Pass all committee criteria;
- Get approval for registration;
- Get a license;
- Pay the registration fee;
- Approve employees.