Registration of companies in Kazakhstan or Why is professionalism in details so important?
Registration of companies in Kazakhstan is considered to be a fairly simple and easy process, if all the necessary documents are pre-assembled and properly executed. That is why it’s better to entrust the procedure of registration of a new legal entity to proven professionals. Foreign businessmen especially need assistance in registering a company because they may not always be present in the supervising state institutions and do not have a clear idea of all references and documents that may be needed.
Thanks to the trained specialists of our company, the registration procedure will take a minimum of time and effort on the part of the client, and, as a result, all the necessary documents and permits for running the business will be received. It remains only to determine the appropriate form of opening a company, for example, an IE (individual entrepreneur), a JSA (joint-stock company), or a LLP (limited liability partnership). Each of the options has its own requirements and execution features, which should be known before the application is submitted. It is an experienced attentive specialist who will be able to adequately assess the situation and offer the most beneficial advantageous option for registering a company in Kazakhstan. This necessarily takes into account the appropriate method of calculating taxes, the required number of personnel and many other nuances.
Important details when registering companies with different forms of ownership
According to the applicable legislation of Kazakhstan, registration of firms or enterprises with any form of complexity on the part of local businessmen and foreigners is significantly different and this should be known in advance. Since such requirements are relevant throughout the state, assistance in registering a company is necessary not only in Almaty, but also in any other city. Detailed information on the requirements and peculiarities of the certificates in each individual case can only be guided by a professional who is expert in jurisprudence and tax requirements.
One of the important issues for foreigners is the need to register the IE in the establishment of the Tax Committee at the place of residence. In addition, the package of prepared documents shall include:
- a statement of intent to open a company in order to further register a new enterprise or a branch of a foreign company (depending on the client’s requirements);
- a passport (with a copy) and photographs made according to the same requirements as the identity document;
- the original and copies of the identification code (SIC, TRN);
- receipt of payment of state duty to the Tax Committee (mandatory, if you need to register an individual entrepreneur), which is equal to two monthly estimated minimums.
If the documents were collected in full and correctly filled, then a few days after the application, the Tax Committee registers a new legal entity and issues a special certificate with the right to conduct financial and economic activities.
After obtaining such a permit, a new individual entrepreneur or company must open a bank account and order the production of a seal. The issue of payment of taxes is important when opening any form of activity, but may differ in a more simplified system of their accrual (in the case of registration of IE). A mandatory condition is also considered to be the acquisition of a cash register with its obligatory registration with the Tax Committee (during the first six months of operation). Only a real experienced specialist will help to understand how a company is registered, if its activities require a special license, since such preparation of documents requires thoroughness and attention to every detail. Another important issue concerns start-up capital and the availability of well-formed financial planning. The help of a specialist will also be required if you need to apply for a loan.
Mandatory requirements for the work of professionals
The work is considered fully and correctly performed if the client has:
- Certificate of state registration of the company.
- Statistical card.
- Certificate BIN (business identification number).
- Taxpayer Certificate.
The collected package of certificates serves as confirmation of the status of a legal entity, and is also a full-fledged right of the founder to directly develop business in the territory of the Republic of Kazakhstan.
Some more recommendations from professionals
If you entrust the entire procedure to experienced professionals, you can not only save time and energy, but also receive a number of important recommendations. First of all, it concerns:
- the absence of necessity to issue a residence permit if the new business is registered in the form of a LLP;
- in Kazakhstan, special justice agencies register new legal entities, but only on the territory of Astana one shall apply for such purposes to the special authorized body operating under the president of the republic;
- opening a LLP for foreigners is also more profitable from the point of view of the form of taxation, since in such cases only 20% of the corporate income tax and 15% of the net income for the first three years is provided for, after which the profit and dividends distribution process is not taxed;
- in addition to the legal address of the company, start-up capital and the name of the company, it is important to correctly determine the code of the main type of activity (economic);
- the package of constituent documents is prepared in a set of three (triplicate) and in two languages (state language and foreigner’s native language).
The ability to understand the nuances of one’s work and the ability to offer the most advantageous option for registering or re-registering a company is one of the most important advantages of working with professionals, and is highly appreciated by serious businessmen who highly value the quality and reliability of the service.