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Understand the Jurisdictions Setup Requirement Before Proceed Your Company Incorporate in Kazakhstan
The World Bank statistics have been showing Kazakhstan as a country with a lot of potential for investors, and there are valid reasons for it. For starters, natural resources are abundant in Kazakhstan, and the country is sixth when it comes to the availability of mineral resources. Also, the government has been introducing various incentives to foreign investors and has been working and enhancing its investment assessments. Thus, as an investor, you can expect a lot of support in the upcoming times if you are looking forward to a company incorporate in Kazakhstan.
However, there are challenges in opening a company in Kazakhstan. One of them is the hefty and confusing company registration process. Or let us say, one of them ‘used to be’ the long company registration process because from now on, 3E Accounting will be taking investors through the entire company formation process with them only having to tell us their requirements. Which means that if you wish to register a Kazakhstan company, all you need to do is call us and tell us you want to do so, then we will do your work for you as you sit back and work more on your business plan.
Types of Companies in Kazakhstan
Foreigners wanting to get a company incorporated in Kazakhstan should have a clear clue about the types of companies in the country.
Kazakhstan Limited Liability Partnership Company
This is the most common form of company in Kazakhstan. Remember that there is no limited liability company in Kazakhstan. Therefore, this business entity could be taken as a ‘substitute.’ Thus, the Kazakhstan Limited liability Partnership company is a little different from a similar entity in other countries. It doesn’t subject its partners to unlimited liability for losses. The company can be set up by a single partner, and there are no nationality limitations. The minimum share capital is USD 1, and you will also need a company director.
Joint Stock Company (JSC)
Another one is the Kazakhstan Joint Stock Company. It is a bigger form of business entity in Kazakhstan and requires a minimum paid-up capital of USD 483,000. The company should have at least one director and a single shareholder can open it who can be of any nationality.
Foreigners can also opt to open a branch office in Kazakhstan. It is for foreign companies who want to extend their business in Kazakhstan. A branch company is not a separate legal entity from its parent company.
A representative office is only for administrative purposes. Companies who first want to study and analyze the market conditions in Kazakhstan before commencing a business mainly open it. A representative office cannot make any sales.
How Long Does it Take for a Company Incorporate in Kazakhstan?
It depends on the type of company and paper works. The company incorporation process in Kazakhstan is a lot of hassle. It might even take several months for a foreign to complete a company registration. Work with us; we will complete your company registration process in as less as four weeks.