Financial companies carrying out regulated activities are the cornerstone of the Astana International Financial Centre. By setting up in this jurisdiction, they can benefit from its world-class regulation, tax arrangements and access to a wide range of structuring options.
Advantages of AIFC for financial businesses
Conducting regulated activities in the AIFC necessitates obtaining a relevant license, which is granted by the Regulator — the Astana Financial Services Authority (AFSA).
The licensing process of companies wishing to provide financial services in the AIFC, which is also termed as authorisation, is a requisite to minimize the risk of causing harm to future consumers of such services.
Financial Businesses interested in setting up operations in AIFC are required to submit an application to AIFC’s regulatory body, the AFSA, which will consider the merits and suitability of the applicant and the category of license for which the application is made.
The authorisation process in the AIFC can be broken down into the following five consecutive stages:
Stage 1: Preparation of application pack
Stage 2: Payment and submission of documents to the Regulator
Stage 3: Review of the application by the Regulator
Stage 4: “In-Principal” approval and compliance with the requirements of the Regulator
Stage 5: Obtaining a license