Kazakhstan: company registration in 2023
There are many reasons to open a company in Kazakhstan. The country is rich in natural resources. It is the sixth largest producer of minerals and is considered the largest producer of wolframium. Also, among the state's advantages is the access to the Central Asian market, support of investors, and developed infrastructure. You can enjoy low taxes if you register a company in Kazakhstan in 2023 in Special Economic Zones (SEZ) territory or the international industrial park (Astana Hub).
What are SEZ and Astana Hub
Kazakhstan has 13 SEZs, each of which has its focus, e.g., petrochemical, chemical, metallurgical, logistics, and others. Companies registered in SEZ enjoy tax and customs privileges for income, land tax, customs duties and rent of premises. It is also possible to hire foreign employees without quotas and immigration restrictions.
SEZs exist in almost all regions of the country, including Astana and Almaty:
- SEZ "Astana - New City". The purpose of its creation is to attract investment in construction. It produces locomotives, railcars, armored vehicles, furniture, construction materials and equipment.
- SEZ "Astana - Technopolis" is a zone for innovative companies. They work on scientific developments at Astana Business Campus, part of Nazarbayev University.
- SEZ "Park of Innovative Technologies" (Almaty) was created for the development of information and communication technologies, and renewable energy with a focus on manufacturing.
- Astana Hub International Technopark is the best option for the registration of IT companies. The hub is the largest of its kind in Central Asia. Exemption from profit tax and various other benefits are available for the businesses registered there.
Business registration forms
You must determine the most suitable form of a legal entity before registering a business in Kazakhstan. The most common options for foreigners are:
- Limited Liability Partnership - it can engage in various forms of business activities. The LLPs can be established either by both individuals or legal entities.
- Representative office - it only represents the interests of the parent company but cannot work with its own projects without the approval of the headquarters.
- Branch - it can carry out the same activities as the parent company, as well as have its income. However, a branch is not a separate legal entity, and the parent bears full financial and legal responsibility for its activities.
How to open an LLP in Kazakhstan
If you are planning to register a business from scratch, we recommend opening an LLP. Among its advantages are the absence of requirements for directors and shareholders and the low authorized capital starts starting at €550.
The application for business registration must be submitted to the Ministry of Justice. The following documents must be also provided:
- A certificate of organization's name;
- Documents of owners, shareholders, and general director;
- Papers confirming the address of the business owner;
- The Charter and the Memorandum of Association;
- A document confirming the office lease;
- Certificate of registration with the tax office;
- License (if necessary).
Business is registered within 20 working days, if all documents are prepared in the right manner. This period includes the opening of a bank account.
How to open a business quickly
Contact IT-OFFSHORE experts to open a company in Kazakhstan in 2023.