GSL / Offshore and International Law / Offshore zones / Kazakhstan / Legislation of Kazakhstan

Legislation of Kazakhstan

Service packages Legislation Tax System Audit Services

Tax treaties entered

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Tax Exchange Information Agreement (TIEA)

List of state regulatory authorities

Prime Minister, Government
State Revenue Committee
Government services and information online

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
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
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
Single tax rate on income of individuals - 10% (in some cases 20%)
Min. rate for corporate tax
20%
Corporate tax (in detail)
The income tax rate is 20% and is accrued for the calendar year
Capital gains tax
No
Capital gains tax. Details
Companies do not pay Capital gains 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%/15%/0%
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

Bank
The cost of opening an account, $
Global rating
Countrywide rating
GSL rating
4 500
N/A
N/A
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