Kazakhstan today is a country with a lot of potential for business growth in many ways. The state’s flexible policy, whose goal is to make a developed country with an open market economy, is one reason why foreign investors are interested in the country. Also, doing business in Kazakhstan is easy because the government helps in many ways.
Steps required for company registration
On the registration of a company, the following steps are necessary:
Choose the legal entity
In every country, the first step on this path is to study the laws. It says that foreigners who haven’t been given a permit to live in the republic can’t run their own businesses as independent entrepreneurs. So, if you are a citizen of another country or don’t have a nationality, you can only start a business by forming a legal entity. This part of the law went into effect on August 3, 2009. Before that date, the state encouraged foreigners to do business as individual entrepreneurs. Citizens of the Russian Federation, Belarus, and Kyrgyzstan do not have to follow the law’s requirements. So, you need to register a legal entity, and then you need to choose the legal form of the organization. It can be a joint-stock company or a limited liability company.
Getting the company ready
After familiarizing yourself with the law, you must: Decide on the types of activities, because some of them may have special requirements under the laws of the republic. For example, if your legal entity plans to do something that requires a license or provides financial/banking services, you must get the right license. Figure out if a business is small, medium, or large. Choose a name, find the legal address, and figure out what the constituent documents say. Put together a package of the following documents:
- The minutes of the company’s general meeting.
- The memorandum of association, and the organization’s charter.
Sign up and get a tax number
These papers need to be given to the Public Service Center at the legal address or the place where the person lives. After that, you will get a certificate of registration and the legal entity’s tax identification number (TRN).
Getting things set up
After getting the registration certificate, you need to order and get a seal, choose a taxation system, open an official bank account, and get a package of documents from the statistics authorities. After all the steps have been taken, you will be able to run a business in Kazakhstan.
Required documents
To become a legal entity, you must send in the following documents:
- Application in the correct format.
- Three copies of the constituent documents (charter and constituent agreement) written in Russian and Kazakh.
- You must provide a legalized extract or other document proving this.
- A copy of the founder’s passport.
- A document proving where a legal entity is located.
- A receipt showing that the state registration fee for a legal entity has been paid.
Foreign workers
Most of the time, when a foreigner starts a business, he brings the top managers with him. It is much easier to put people in charge of a business who are already familiar with it or who have the same mindset. But it’s important to remember that in order to get foreign workers, you need a certain set of documents:
- A list of your employees who are invited to travel.
- Copies of their employment contracts.
- Medical certificates of HIV testing.
- Copies of their passports (international standard).
When all the paperwork is turned in, your workers will get a work permit within two weeks.
Take away
As you can see, it’s not too hard for a foreigner to register a business in the republic, especially if they plan to stay there for a long time. And the only thing that makes a person a resident or not is whether or not they have a residence permit. As for the rest, there aren’t a lot of legal disputes.
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