News
All AIFC Participant Companies have a new legal address at AIFC
Notice to all current AIFC Participant Companies
Notice is hereby given to remind AIFC Participant Companies of the requirement to update your company information with the AIFC Regulator (AFSA), including you registered address details
– as confirmed on your sub-lease agreement with AIFC.
As of 6 February 2021 – All AIFC Participant Companies have a new legal address at AIFC.
Regulation:
According to Article 24, AIFC Companies Regulations, an AIFC Participant Company must at all times have a registered office in the AIFC to which all communications and notices may be addressed.
If any of the registered details of company change, the company must notify the Registrar in writing within 14 days after the day the change happens and must comply with all other requirements applying to the company under the Rules in relation to the change. Considering all the information, failure to notify the Registrar in writing of the registered office on time results in fine of up to 2,000 USD (schedule 3, AIFC Companies Rules) and we are obliged to report the company for contravention of the relevant statutory provision.
Conditions:
The legal address is deemed to be effective upon signing sublease agreement, otherwise given address becomes invalid and it must be changed. Having invalid sublease agreement can have several consequences including blocked account. It is company’s responsibility to monitor its registered office location and notify Office of the Registrar on the change accordingly. The following list of legal addresses are no longer valid:
- Mangilik El 55/16 Block C3.1,office 339;
- Mangilik Yel 55/20, Block C4.1, office 251-252;
- Mangilik Yel 55/21, Block C4.2, office 163;
- Mangilik Yel, 55/17, office 145;
- Mangilik Yel 55/18;
- 48, Sauran Street, office L 1.2, Congress Center;
- 8, Block B, Kunayev Street, Emerald Tower Business Center.
Please check registered address details and expiration date of lease/sublease agreement. If the company is registered at one of the above addresses and does not have valid lease/sublease agreement with AIFC, the company needs to apply for post-registration procedure: change of registered address.
For further information, please contact as per the details given further below.
How to notify AFSA about address change?
Relevant forms should be completed and filed with Office of the Registrar to proceed with the change of registered detail. For more information get familiar with post-registration procedures, guide on filling obligations and all forms are posted. This must be read together with other relevant regulations and enabling rules.
Where participant can find a new address?
Company may apply for AIFC legal address or rent space located in AIFC territory. Information on territory of the Centre is available online via boundaries of AIFC. (click the link “№614”).
How to apply for AIFC legal address?
The Legal address at AIFC is no longer free of charge. Registering at our legal address the company agrees to terms and has been acknowledged of (1) monthly rental fee for using legal address and (2) relevant fine for breach of legislation.
For Participant Companies of AIFC registered for VAT:
If a participant has registered for VAT at incorporation stage, then it becomes a subject to Article 558, Tax Code RoK and may be inspected by Tax Authorities at addresses indicated in their registered details. If a representative of the Tax Authorities finds that a company is not physically present at its registered address, it may block corporate accounts.
Note that VAT taxpayers must be present at registered address. Otherwise, according to Tax Code RoK, Article 558: Tax Inspection, subparagraph 4, in the event of a tax inspection resulting in actual absence of taxpayers (tax agent) in places of their location specified in the registration details, the Tax Service Authority shall forward to such taxpayer a notice for the confirmation of location of the taxpayer (tax agent). Therefore, the option of a nominal legal address will not work for VAT taxpayers in RoK.
Additional information
Note that correct address details are crucial for communication, ensuring that all correspondence (e.g. invitations to events, warnings, updates, consultation papers issued by AFSA, governmental bodies and others) reaches representative of company for its further actions. Valid lease/sublease agreement is kept together with company records as it might be requested by tax authorities during standard inspection.
Effective period:
This notice has come into effect from 06.02.2021.
AIFC Business Connect has informed all AIFC Participant Companies in advance and by email – and publishes this notice in case this information has not reached any Participant by electronic means.
For further details please contact:
AIFC Participant Support Department
Tel: +7 776 143 1857
Email: [email protected]
