On May 28, 2024, amendments to the law took effect, requiring foreign nationals from EAEU member states, as well as from Azerbaijan, Tajikistan, and Uzbekistan, to first obtain a Temporary Residence Permit as a business immigrant in order to become founders of a limited liability partnership (LLP) in Kazakhstan.
From the date of entry into the Republic of Kazakhstan, a business immigrant must:
— Obtain an IIN (Individual Identification Number) and prepare the required documents to apply for an initial 3-month business immigrant temporary residence permit.
— Submit the package of documents to the NAO “State Corporation Government for Citizens” (Public Service Center) at the business immigrant’s place of registration.
— After receiving a temporary residence permit, a business immigrant must, within two months, establish a legal entity or become a member of one.
— Deposit an amount of money (not less than the minimum amount) into a second-tier bank in Kazakhstan to form the authorized capital of the legal entity.
Once all the steps have been completed, the business immigrant is eligible to obtain a temporary residence permit (TRP) valid for one year, with the option to renew it annually for up to three years.
In the event of a failure to fulfill obligations, law enforcement agencies will shorten the business immigrant’s period of stay by the time necessary for his or her voluntary departure.
It is important to note that these requirements apply exclusively to non-resident individuals; accordingly, they do not apply if the founder is a foreign legal entity.
Liability for Failure to Comply with Immigration Requirements:
In accordance with subparagraph 2 of paragraph 2 of Article 49 of the Civil Code of the Republic of Kazakhstan, a legal entity may be liquidated by court order in cases where the registration of the legal entity is declared invalid due to irremediable violations of the law committed during its establishment.
The specialists at EGSAT Consulting assist foreign entrepreneurs in obtaining a business immigrant temporary residence permit. For a preliminary consultation, please provide your contact information in the feedback form; our specialists will contact you and answer any questions you may have.
