The Astana International Financial Centre (AIFC) means the area within the City of Nur-Sultan (Astana) determined by the President of the Republic of Kazakhstan as the area where the special legal regime in the financial sphere established by the Constitutional Statute of the Republic of Kazakhstan On the Astana International Financial Centre applies.
According to the President of the Republic of Kazakhstan Decree № 161 dated 31 December 2015, AIFC occupies the territory of 1632 hectares.
According to the AIFC Financial Services Framework Regulations, a Person will be deemed to be carrying on activities in the AIFC for the purposes of these Regulations if:
(a) that Person is a Centre Participant and the day-to-day management of those activities (even if those activities are undertaken in whole or in part from outside the AIFC) is the responsibility of the Centre Participant in its capacity as such; or
(b) that Person’s head office is outside the AIFC, but the activity is carried on from a branch maintained by it in the AIFC; or
(c) the activities are conducted in circumstances that are deemed to amount to activities carried on in the AIFC under Rules made by the AFSA.
Jurisdiction and Powers
Institutions registered and licensed by AFSA are referred to as 'Centre Participants'. Centre Participants must have a physical presence within the boundaries of the AIFC but can offer their services to clients throughout Kazakhstan provided they do so in accordance with AFSA's rules (so far as these rules are applicable to their activities). Likewise Centre Participants may offer their services in jurisdictions outside Kazakhstan provided they do so in accordance with the law of the host state.
AFSA has powers to authorise, supervise, and where necessary, carry out enforcement in regard to Centre Participants. These powers apply to all Centre Participants, their directors and certain key employees (referred to as "Approved Individuals") who are approved by the AFSA to carry out Controlled Functions.