Obtain Financial Licenses in Kazakhstan

Businessmen who want to enter the financial market in Kazakhstan need to apply for financial licenses, which vary in accordance to the specific activity of interest. If you want to obtain financial licenses in Kazakhstan, you can address our consultants for assistance and legal representation.

What are the main licensing options in Kazakhstan?

Businessmen who want to open a company in Kazakhstan in the financial sector can apply for regional or national licenses (the first refers to licenses valid only in the country’s free zones while the latter implies that a legal entity is licensed to carry out its operations at a national level).

What are the main institutions involved in the licensing process?

In the list below, our consultants present the main authorities investors can address if they want to obtain financial licenses in Kazakhstan:

1. The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (ARDFM);
2. The Astana Financial Services Authority (AFSA), which regulates businesses registered in the Astana International Financial Center (AIFC), one of the free zones available in this country that is centered around financial services.

What are some of the financial activities I can carry out in the AIFC?

Foreign businessmen can develop a variety of financial activities in AIFC, some of which are listed below:

1. banking;
2. asset management;
3. insurance;
4. trading platforms;
5. Islamic finance;
6. brokerage, etc.

What types of registrations are available in AIFC?

There are 2 main types of registrations – registration and authorization, the latter referring to the process of licensing. According to the local law, only 3 categories of financial activities need to be licensed (therefore, to obtain authorization from the AFSA), as follows:

1. regulated activities;
2. market activities;
3. ancillary activities.

Do I need to pay registration fees for the issuance of a financial license?

Yes. The fee varies based on the institution you address to and the type of activity you want to engage in. For instance, if you want to obtain a banking license at a national level, you must pay a feel of 800 MCI (MCI stands for Monthly Calculation Index, where 1 MCI equals KZT 4,325 in 2026).

Is it required to employ workforce in my licensed financial company in Kazakhstan?

Yes. Companies need to adhere to various employment requirements.

How long does it take to obtain the license?

It depends on the type of license and the type of registration. For instance, if you want to obtain a banking license issued at a national level, the procedure can take around 30 days once the documentation has been submitted for review.

Do I need to apply for a license as a foreign company?

Yes. The obligation to obtain financial licenses in Kazakhstan does not apply solely to legal entities registered in this country. Foreign companies expanding their activities on the local market need to adhere to the same obligations. For instance, if you want to register a branch of a foreign company operating in the financial industry, you will need to start the licensing procedure.

How can your team represent me in the process of obtaining a license?

You can easily rely on our team of consultants. They can assist you in obtaining any type of financial license and can help you open a company in Kazakhstan. For this, you just have to grant us the power of attorney and provide us with the documentation necessary for the registration.

Please contact our team of specialists in company formation in Kazakhstan for in-depth information on the documentation that you must prepare for the application, as well as for details on any other matter related to the licensing process.