Legislation of Kazakhstan

List of laws and regulations

Law of the Republic of Kazakhstan On Limited and Additional Liability Partnerships

Partnerships

Law of the Republic of Kazakhstan On Joint Stock Companies

Joint Stock Companies

Civil Code of the Republic of Kazakhstan

Civil Code

Entrepreneurial Code of the Republic of Kazakhstan

Entrepreneurial Code

Code of the Republic of Kazakhstan On Taxes and Other Obligatory Payments to the Budget

Tax Code

Law of the Republic of Kazakhstan On Combating the Legalization (Laundering) of Proceeds of Crime and the Financing of Terrorism

Anti-money laundering

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Tax treaties entered

Armenia

Austria

Azerbaijan

Belarus

Belgium

Bulgaria

Canada

China

Croatia

Cyprus

Czech Republic

Egypt

Estonia

Finland

France

Georgia

Germany

Hungary

India

Iran

Ireland

Italy

Japan

Korea

Kyrgyzstan

Kuwait

Latvia

Lithuania

Luxembourg

Macedonia

Malaysia

Moldova

Mongolia

Netherlands

Norway

Pakistan

Poland

Qatar

Romania

Russia

Saudi Arabia

Serbia

Singapore

Slovakia

Slovenia

Spain

Sweden

Switzerland

Tajikistan

Turkey

Turkmenistan

Ukraine

United Arab Emirates

United Kingdom of Great Britain and Northern Ireland

United States

Uzbekistan

Vietnam

Tax Exchange Information Agreement (TIEA)

List of state regulatory authorities

Prime Minister, Government

https://primeminister.kz/en

President

https://www.akorda.kz/en

Ministry of Foreign Affairs

https://www.gov.kz/memleket/entities/mfa?lang=en

Ministry of Finance

https://www.gov.kz/memleket/entities/minfin?lang=en

Ministry of National Economy

https://www.gov.kz/memleket/entities/economy?lang=en

State Revenue Committee

https://kgd.gov.kz/en

National Bank

https://nationalbank.kz/en

Government services and information online

https://egov.kz/cms/en

Corporate info

Legal system

Romano-Germanic (continental) legal system

Types of entity

Joint Stock Company; Limited Liability Partnership (LLP); Representative Office; Branch.

Shelf companies permitted

No

Incorporation timescale for a new company

10 working days

Company suffix

Yes

Sensitive words

It is prohibited to use in the firm names of references to the official names of government agencies of the Republic of Kazakhstan

Cyrillic alphabet permitted in company name

Yes

Local registered office

Yes

Local registered agent

Yes

Information to be kept at the registered office

Corporate documents, accounts

Seal required, type of seal

Not necessarily

Redomiciliation (to, from) permitted

Not provided

Director and secretary

Minimum number of directors

1

Residency requirements for directors

No

Corporate directors permitted

Yes

Directors’ meetings/frequency/location

No restrictions

Disclosure to local agent

Yes

Disclosure to public

No

Company secretary required

No

Residency requirements for a secretary

No

Qualified secretary required

No

Corporate secretary permitted

No

Shareholder and beneficiary

Minimum number of shareholders

1

Residency requirements for shareholders

No

Corporate shareholder permitted

Yes

Meetings/frequency/location

No restrictions

Disclosure to local agent

Yes

Disclosure to public

No

Beneficiary info disclosure to

No

Shares and share capital

Minimum authorized share capital

100 MCI (Monthly Calculation Index)

Minimum issued share capital

100 MCI

Minimum paid share capital

100 MCI

Authorized capital payment deadlines

By the time of registration 25% of the authorized capital must be paid

Issued capital payment deadlines

By the time of registration 25% of the authorized capital must be paid

Standard currency

KZT

Standard authorized share capital

100 MCI

Standard par value of shares

—

Shares with no par value permitted

No

Bearer shares permitted

No

Taxes

Personal tax

10%

Сorporate tax

20%

Corporate tax (in detail)

The income tax rate is 20% and is accrued for the calendar year

Capital gains tax

20%

Capital gains tax. Details

Individuals pay capital gains tax; companies are not subject to this tax

VAT

12%

VAT. Details

VAT rate is 12% on the amount of goods and services sold. 0% - turnover on sale of goods for export (except for scrap of non-ferrous and ferrous metals) and performance of works and services related to international transportation

Withholding tax

15% (dividend), 15% (interest), 0% (royalty)

Other taxes

Social security contributions; Property tax

Exchange control

Yes

Government fee

Yes

Stamp duty

Yes

Accounts

Requirement to prepare accounts

Yes

Requirement to file accounts

Yes

Publicly accessible accounts

No

Requirement to file Annual Return

Yes

Publicly accessible Annual Return

No

Audit required

Yes

General information shortly

Location

Center of Eurasia

Total area

2 724 902 sq. km

Population

19 274 175 (2022)

Capital

Nur-Sultan

National currency

Kazakhstan Tenge

Conditional reduction of currency

KZT

Against USD

0,0022 (2022)

Climate, average max and min t°

Extreme continental climate with warm summers and fairly cold winters

Time difference from Moscow

- 3 hours

Dialing code

+ 7

State language

Kazakh, Russian

Ethnic groups

Kazakhs - 69,01%; Russians - 18,42%; Uzbeks - 3,29%; Uighurs - 1,48%; Ukrainians - 1,36%; Tatars - 1,06%, etc.

Literacy rate

99,8 (2019)

History

—

Credit rating

BBB-

Government type

Unitary centralized republic

Executive branch

The Government of the Republic of Kazakhstan headed by the Prime Minister

Legislative branch

Bicameral parliament consisting of the Majilis (lower house) and the Senate (upper house)

Judicial branch

Supreme Court, regional, military, city, district and specialized courts

Unemployment

4,9 (2021)

GDP per capita rank

61 (2021)

Corruption perceptions index rank

37 (2021)

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Banks of Kazakhstan

Bereke Bank

4 950

N/A