How to apply AIFC Business Connect Authorisation Support:
In order to become an AIFC participant, applicants should go through:
The Authorisation is the process of obtaining a license for the companies engaged in the provision of Regulated activities, Ancillary services, Market activities or companies engaged in Financial Technology.
Once the applicant receives the In-Principal Letter of Approval from AFSA the applicant can immediately proceed to the registration process. The process of creating a legal entity that will be registered under the Acting Law of the AIFC and other legal entities recognised by the AIFC (such as a branch).
Our team is here to help you understand the value proposition of the AIFC to assist your evaluation of whether your presence here will make business sense for your firm. While we are not legal or business consultants, we are here to support your journey in becoming an AIFC participant, including:
- Guidance on regulatory requirements for licensed activities
- Clarification of types of licenses
- Providing assistance in clarifying the procedure for filling out forms and clarifying sections
- Guidance on requirements for the development of policies and documents of internal control
- Guidance on requirements for candidates for key positions
- Consideration of a package of documents for the readiness of the case to be submitted to the AFSA regulator
- Support in communication with the AFSA regulator, organizing meetings with the regulator, clarifying the comments of the AFSA authorisation team
- And more
Need help?
Check our handbook on a wide network of authorised ancillary service providers who will help you run your business in the AIFC
Step 1: Submit the application form and required documents
Fill out the following application forms:
- Application form for Regulated or Market Activities;
- Supplement form (based on the activity);
- Applications for individuals who will carry out Controlled and Designated Functions (Firms seeking authorization will be required to appoint individuals to perform certain key functions on its behalf. Please see Chapter 2 of the AIFC General Rules):
- Application forms for Approved Individual Status (for Senior Executive Officer, Finance Officer, and Compliance Officer); and
- Application forms for Designated Individual Status (Money Laundering Reporting Officer)
Step 2: Provide supporting documents
Provide supporting documents listed in the Documentation Checklist section of the Application form for Regulated Activities and Supplement forms;
Step 3: Submit drafts of applications and documents to our team
Submit drafts of applications and supplement documents to our team so we can undertake an initial review to ensure that the case appears to be materially complete, and all the necessary attachments are included and ready for submission to AFSA
Step 4: Submit applications and documents to AFSA team for Authorization
AFSA will assess the forms and the documents and provide you with preliminary comments;
Submit the finalized application package via post or by hand to the AFSA office.
Step 5: Obtain a License
If the application is successful, AFSA will notify the applicant of the application status and issue an In-Principle Approval letter. Upon the applicant’s satisfaction of the conditions set out in the In-Principle Approval letter, such as, for example, injecting the prudential capital, and resolving other outstanding matters, the AFSA will issue the License.
6. Apply for the registration of a company
- Open the Digital Resident Portal (https://digitalresident.kz)
- Login or create your account
- Create a new application
- Select Application type – Registration application
- Choose the appropriate legal form
- Fill out an application
- Make a Payment
- Submit application
- Receive a certificate of incorporation
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