Why Should You Know All About Company Registration In Kazakhstan
Kazakhstan is located in Central Asia. It is one of the countries in the world that has a small population. This country is now becoming a desirable place for foreign investors to start new companies or expand their business. World Bank reports show that Kazakhstan has a lot of potential for economic growth. Investors who are interested in steady growth and stability can go for Company Registration in Kazakhstan.
Just like every other country, Kazakhstan also has a set of steps you have to follow so that you can incorporate and register your company and run it without any legal hassles.
Why Should You Choose to Do a Company Registration in Kazakhstan
Kazakhstan is one of the world’s most stable economies. This is a good reason why business owners should consider Company Registration in Kazakhstan. When the foundation is strong, the development will automatically be profitable.
Kazakhstan simplified the procedure of business start-up by minimizing the base capital requirement to KZT 100 or USD 0.70. You do not need to present a Memorandum of Association and a notarized company charter either. The country doesn’t require you to acquit the base capital in three months after incorporation. Later, they also reduced the time required for a public Company Registration in Kazakhstan. They also eliminated the fees required earlier from small and mid-sized businesses. This reduced the registration time frames tremendously and also did away with the need to use a company seal.
If you have the right documentation, you can register your company within one business day.
Requirements for Company Registration In Kazakhstan
There are some prerequisites for Company Registration In Kazakhstan. They are as follows:
- There should be a minimum of 1 shareholder of any nationality.
- Minimum capital for small companies is KZT 100 and for large companies is KZT 226900.
- There should be at least 1 director. They can be of any nationality but must possess a work permit.
- You must have a registered office address.
For your registration process to go smoothly, you must submit these documents:
The company name must be unique in order to avoid confusion with existing companies. In case you left the company’s name is in your native language, you must provide a translation of that name. This is required for legal purposes. You cannot use names which are similar to names of companies in the public sector. The company name should follow the culture of Kazakhstan and should not insult their values.
Location of the Company
You must provide the full address of the company as well as the address and contact details of the founding members. This data is necessary for tax purposes and legal proceedings. The address provided on paper should match with the address of the site of operation. It may have numerous branches, but there must be one address to which legal correspondence can take place.
If you wish to appoint a foreigner as the CEO of your company, you need to make sure they possess a work permit or residence permit.
Language of Registration
If you have drawn up documents in any language other than the local language of Kazakhstan (Kazakh or Russian), you will have to get your documents notarized by a legal body in Kazakhstan. You will also have to submit a translated version for the benefit of the authorities.
How We Can Help
You can opt for either a Limited Liability Partnership (LLP) or a Joint Stock Company (JSC). Each comes with its own set of advantages.
For more information and guidance on Company Registration in Kazakhstan, get in touch with 3E Accounting. We will help you with all aspects of registration, whether LLP or JSC.
You can contact us by sending an email to request a quotation or get more information about Company Registration in Kazakhstan.