Kazakhstan: visa-free foreigners willing to register business must seek appropriate residence permit

Kazakhstan: visa-free foreigners willing to register business must seek appropriate residence permit

We would like to inform you that on May 28, 2024, amendments to the law “On Migration of the Population” of the Republic of Kazakhstan came into force, complicating the set-up of a legal entity In Kazakhstan for foreign citizens who are exempt from obtaining Kazakhstani visas.

What documents introduce the changes?

Law of the Republic of Kazakhstan dated May 16, 2024 No. 82-VIII ZRK.

What are the changes?

Foreign citizens are prohibited from establishing a legal entity or participating in statutory capital of a commercial organization without obtaining an entry visa for business immigrants or a temporary residence permit (TRP) as business immigrants.

Previously, this restriction mentioned only a business immigrant visa, so it did not apply to citizens of the EAEU countries, Azerbaijan, Tajikistan, and Uzbekistan, who are exempt from obtaining any visas of the Republic of Kazakhstan. Now, citizens of the listed countries who wish to register a company or become its participant must obtain the appropriate TRP in lieu of the appropriate visa.

The TRP is issued to business immigrants, as well as their family members, by the internal affairs offices in the territory of Kazakhstan, for a period of one year with the possibility of a yearly renewal. Accordingly, remote registration of a company without visiting Kazakhstan is currently not feasible.

The requirements for obtaining a business immigrant TRP are similar to the requirements set for the corresponding visa applications. In particular, the applicant must present a medical certificate of health, medical insurance, as well as confirmation of the absence of a criminal record or a court injunction against entrepreneurial activity.

We would like to remind you that business immigrants are required to take actions to register or join a commercial organization, as well as deposit the necessary amount of authorized capital into the bank within 2 months from the moment of entry into the country.

The obligation to obtain a business immigrant visa or TRP does not apply to persons who are holding permanent residence permits in Kazakhstan or certificates of a stateless person.

Who may be affected?

Foreign citizens planning to set up a legal entity in Kazakhstan.

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