AFSA Office of the Registrar of Companies fully goes to digital registration format
Astana Financial Services Authority announces Digital Resident portal has been updated for online applications for registration.
AFSA Office of the Registrar of Companies currently receives only online applications for registration.
To submit an application, please tap the link and follow the instructions below:
Step 1. Open the link
Step 2. Login or create your account
Step 3. Create a new application for registration
Step 4. Choose an organizational-legal form
Step 5. Fill out an application
Step 6. Make a payment.
Payment can be made through the link or you can download an invoice and make a payment through your bank’s internet banking system.
Step 7. Submit application
After an application is submitted, we will contact you within 5 working days.
Documents should be uploaded on the website in PDF format. As regards to current pandemic situation, AFSA temporary is not accepting any original documents until further follow up and instructions.
In case you need assistance in filling an application, please contact registration support team AIFC Business Connect through [email protected].
Astana International Financial Centre informs about death of Lady Barbara Judge CBE
The Astana International Financial Centre expresses its sincere condolences to Lady Barbara Judge’s family. We are thankful for all the work done by Lady Judge for the Centre.
Lady Judge was an American British lawyer, the commissioner of the US Securities and Exchange Commission, Chairman of CIFAS, the United Kingdom’s fraud prevention service, she was also a Deputy Chairman of the UK Financial Reporting Council and a non-executive director of a number of other public and private tech companies. She was the first Chairman of the Board of Directors of the Astana Financial Services Authority.
Regulated community attended a webinar related to Amendments to the AML/CFT Law of Kazakhstan and the AML Guidance
Astana Financial Services Authority (AFSA) has conducted a webinar for authorised persons concerning recent amendments to Kazakhstan’s anti-money laundering (AML) and counter terrorist financing (CTF) law. The webinar was attended by regulated firms who are subject to anti-money laundering supervision.
About 50 participants attended the session, including from Authorised Firms, Authorised Market Institutions and FinTech Lab Participants. The webinar was devoted to the amendments to AML/CFT Law of Kazakhstan and details of the AML Guidance adopted by the AFSA on 21 May 2020. AFSA identified around 50 new norms which will extend to AIFC Participants subject to AML supervision pursuant to AIFC AML Rules. Topical issues such as key and related amendments relating to the relevant AIFC Participants were discussed, as well as programmes of AML Guidance which include internal control, ML/FT risk management and AML training requirements.
The webinar also focused on requirements of AML Guidance, which should be implemented by Authorised Persons in its AML policies, controls, and procedures.
In case of further inquiries please feel free to contact AFSA Communications team at [email protected].
AFSA held a webinar for DNFBPs to inform on Amendments to the AML/CFT Law of Kazakhstan and the AML Guidance
On 1 July 2020 Astana Financial Services Authority (AFSA) held a webinar for Designated Non-Financial Business and Professions (DNFBPs) on different aspects of the amendments to Kazakhstan’s anti-money laundering (AML) and counter-terrorist financing (CTF) law signed by the President of Kazakhstan on 13 May 2020.
Over 16 participants from 13 DNBFPs attended the session. The webinar was devoted to the amendments to AML/CFT Law of Kazakhstan and details of the AML Guidance adopted by the AFSA on 21 May 2020. AFSA identified around 50 new norms which will extend to AIFC Participants subject to AML supervision pursuant to AIFC AML Rules. Topical issues such as key and related amendments relating to the relevant AIFC Participants were discussed, as well as programmes of AML Guidance which include internal control, ML/FT risk management and AML training requirements.
The webinar also focused on requirements of AML Guidance, which should be implemented by DNFBPs in its AML policies, controls, and procedures.
In case of further inquiries please feel free to contact AFSA Communications team at [email protected].
AFSA has enhanced AIFC capital markets framework
Astana Financial Services Authority (AFSA) has introduced a series of amendments to AIFC Acts (AIFC Market Rules, AIFC Prudential Rules for Investment Firms and AIFC Glossary) in order to enhance AIFC capital markets and market institutions framework. These amendments come as part of the AIFC strategy to develop the capital market segment of the Financial centre.
Key elements of the enhanced capital market framework will be effective as of 1 July 2020 and relate to following:
(1) Opening opportunities for more companies to join the capital market by decreasing base capital requirements for AIFC Authorised Firms Dealing in Investments as Principal and Dealing in Investments as Agent:
(2) Introducing a Regional Equity Market Segment (REMS) to allow small and medium business to list on AIX, simplifying the regulatory requirements for this segment proportionate to their risks and listing them in own market segment category;
(3) Subject to certain restrictions allowing an entity, whose Securities or the Securities of the same Class are admitted to trading on Equivalent Regulated Exchange, to be exempted from providing additional disclosure under AIFC market disclosure rules and regulations and/or an Authorised Investment Exchange;
(4) Incorporating certain clarifications and improvements in MAR such as expanding the list of Exempt Securities, amending the compliance framework for issuers of Exempt Securities, allowing an Authorized Investment Exchange to approve a Prospectus produced under a different jurisdiction (provided certain criteria are met), elongating the validity of Expert report on assets or rights owned by Issuers, and other reporting and compliance requirements.
(5) Amending prospectus requirements to ensure their alignment with the best international practice by decreasing the amount of required information;
(6) Introducing miscellaneous amendments such as order and timescale for approval of Prospectus and extension of deadlines for submission of annual and semi-annual reports.
In the course of development of these amendments the latest international standards have been analyzed against the local market conditions. Concerns expressed by potential local medium-sized security issuers have been also addressed to introduce changes that will expand opportunities for businesses and investors, while maintaining reasonable requirements and conditions for safe market operation.
Development of capital markets is one of six strategic pillars of AIFC. The proposed amendments are aimed at building on the development of inclusive regulatory environment for local and foreign businesses and investors.
In case of further inquiries please feel free to contact AFSA Communications team at [email protected].
Astana International Financial Centre registers its 500th Participant
Astana International Financial Centre (AIFC) informs this week that the Astana Financial Services Authority (AFSA) registers the 500th firm in the AIFC.
AIFC has rapidly grown over the last years and became home for firms from more than 42 countries. Including Kazakhstan, United Kingdom, USA, China, Russia, Estonia, Latvia, Italy, Finland, China, South Korea, Singapore, Malaysia, India, the United Arab Emirates, Turkey, and many other countries. Today, AIFC participants offer a range of financing vehicles and mechanisms for arranging deals in a transparent and efficient manner.
SWISSFE CENTRAL ASIA LTD became the 500th company in the jurisdiction of the AIFC. SWISSFE LTD is a privately-owned global real estate investment and asset management firm with a unique portfolio in Germany, Holland, Australia, United States, India, Malaysia, United Kingdom, Serbia, Czech Republic, China, South Korea, Spain, Denmark and by 2020 has 1,8 Billion Swiss francs in assets under management. SWISSFE LTD invests in high-quality, innovative assets, focusing on industrial properties and infrastructure assets.
Kairat Kelimbetov, Governor of AIFC, noted:
“Today we share a historical event which is made possible in 2 years after the official inauguration of the AIFC in July 2018, officiated by Nursultan Nazarbayev, First President of Kazakhstan and founder of AIFC. Celebrating this milestone, we are pleased to announce a new stage of development in which we gradually move from establishing infrastructure to focusing on facilitation of business activity and investment into the region.”
James Martin, CEO, AIFC Business Connect, added:
“The role of AIFC Business Connect is to support the commercial objectives of our participant organisations, promoting the benefits of registering at AIFC and ensuring the ease of doing business once a company is established within the Centre. I am delighted that a company with the global reach of SWISSFE CENTRAL ASIA LTD. has chosen to develop its business in Kazakhstan and the region as an AIFC participant – and has become the 500th firm to register at AIFC.”
Gokan Yessilgoz, CEO, SWISSFE CENTRAL ASIA LTD, added:
“AIFC offers a great platform for the international investment companies that we are already familiar with, including English Law and Tax Benefits as well as Foreign Investor Protection. As SWISSFE CENTRAL ASIA LTD, we see the opening of new opportunities for our investment portfolio in Kazakhstan.”
AIFC participants operate in such areas as banking, insurance, stock market, asset management, private banking, Islamic finance, credit rating, legal advisory, accounting, holding company activities and others. As of now, banking sector assets in the AIFC reached USD 680 million, capital markets also demonstrated growth, and equity capital raised comprised USD 291 million.
Reference:
AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet Region, Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, to develop local capital markets, to ensure their integration with the international capital market, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan. www.aifc.kz
AFSA is the independent regulator of the Astana International Financial Centre (“AIFC”), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC. As such the AFSA administers the AIFC Regulations and Rules, which provides, among other things, for the authorization, registration, recognition and supervision of financial firms and market institutions. www.afsa.kz
AIFC Business Connect was established as a private not-for-profit company focused on driving sustainable growth in the Astana International Financial Centre (AIFC); understanding international business practices and drivers, and defining suitable projects for potential investment in the Republic of Kazakhstan. www.aifc.kz
AFSA has eased requirements relating to Representative offices in AIFC
Astana Financial Services Authority (AFSA) has simplified supervisory requirements for Authorised Firms carrying on Regulated Activity of Operating a Representative Office.
The liberalisation of the supervisory measures for the Representative Office relate to the waiver of the following requirements:
(1) residency requirement for a Principal Representative;
(2) mandatory appointments of Approved and Designated Individuals;
(3) applicability of the AIFC AML Rules.
These measures are intended to ease supervisory requirements and allow Representations to focus on marketing of services and products in the AIFC. This will improve the overall conditions and environment for operating of the Representative Offices in the AIFC, facilitate establishment in the Centre and development of business. Accordingly, Representations will face rather simplified authorisation and risk-based supervision processes.
Full texts of the notices are published here (link to notice).
In case of further inquiries please feel free to contact AFSA Communications team at [email protected].
AFSA approved Guide on the Authorisation process and Fund Management Guide
Astana Financial Services Authority (AFSA) has adopted a Guide on Authorisation process and a Guide on setting up an investment fund in the AIFC. Both documents were developed to enhance understanding of applicants on the matters AFSA takes into consideration when assessing applications for authorisation of firms and establishing Fund Manager and Funds in the AIFC.
The Guide on the Authorisation process contains: (1) description of AFSA’s authorisation function and types of activities that are licensed or recognised; (2) description of the authorisation process that AFSA follows to be satisfied that an applicant is fit and proper; (3) information that may assist applicant firms in completing the application forms for authorisation; (4) information as to AFSA’s risk-based approach to authorisation; (5) information on matters which AFSA may assess when considering applications for authorisation.
The Guide is therefore relevant to a Person who is seeking to be authorised or recognised by the AFSA or to a Person who is already subject to applicable laws, Rules and policies administered by the AFSA such as Authorised Persons (i.e. Authorised Firms or Authorised Market Institutions), Designated Non-Financial Business and Professions, Registered Auditors, Audit Principals, Approved and Designated Individuals, Principal Representatives and any other Persons subject to the AFSA’s regulatory oversight.
Fund Management Guide includes information on authorisation of Fund Managers in the AIFC, including: (1) investment fund regime and types of funds available in the AIFC; (2) establishment of a fund and fund management company; (3) Preparation to application process; (4) tax regime in the AIFC and FAQs.
The Guides are published under Guides section on the AFSA website (link to guides).
In case of further inquiries please feel free to contact AFSA Communications team at [email protected].
AFSA approved the requirements to the AML training courses for the relevant persons and recognised AML training centres
Astana Financial Services Authority (AFSA) has established minimum threshold requirements concerning anti-money laundering (AML) trainings undertaken by relevant AIFC participants. AFSA considers the trainings as important tools for building necessary capacity of AIFC Participant to comply with AIFC AML Rules. New requirements relate to the AML training certification and recommends the List of recognised organisations which meet with the requirements to AML training. These measures include:
- a) Requirements to the AML training courses for the Relevant Persons:
- b) List of recognised organisations which meet with the requirements of the AML training courses imposed by AFSA (list of recognised organisations will be updated as the Financial Intelligence Unit list changes).
AFSA as a supervisory authority is committed to maintaining the quality of training and awareness of the relevant AIFC Participants in the field of AML/CFT. Therefore, AFSA considers that the new requirements will assist relevant AIFC Participants in increasing understanding of AML/CFT legislation of Kazakhstan and obtain knowledge they need to comply with the requirements of AML/CFT legislation of Kazakhstan and AIFC AML Rules.
Full texts of the notices are published here (link to notice).
