On May 28, 2024, amendments to the law came into force, according to which foreign citizens from the EAEU countries, as well as Azerbaijan, Tajikistan and Uzbekistan, in order to become founders of an LLC in Kazakhstan, must first obtain a Temporary Residence Permit as a business immigrant.
From the day of entry into the territory of the Republic of Kazakhstan, a business immigrant must:
— Obtain an IIN (Individual Identification Number) and prepare a package of documents to obtain an initial temporary residence permit for a business immigrant for a period of 3 months.
— Submit a package of documents to the State Corporation Government for Citizens (TsON) at the place of registration of the business immigrant.
— After receiving a temporary residence permit (RVP), a business immigrantmust create or join a legal entity within 2 months.
— Deposit a sum of money (not less than the minimum amount) into a second-tier bank of the Republic of Kazakhstan to form the authorized capital of a legal entity.
Upon completion of all stages, a business immigrant has the opportunity to obtain a temporary residence permit for 1 year with the possibility of annual renewal for up to 3 years.
In case of failure to fulfill obligations, the internal affairs agencies reduce the period of stay of the business immigrant by the period necessary for his voluntary departure.
It is important to note that these requirements apply exclusively to non-resident individuals; accordingly, the requirements do not apply if the founder is a foreign legal entity.
Liability for failure to comply with migration requirements:
In accordance with paragraph 2 of clause 2 of Article 49 of the Civil Code of the Republic of Kazakhstan, a legal entity may be liquidated by a court decision in cases where the registration of a legal entity is declared invalid due to violations of the law committed during its creation that are of an irreparable nature.
EGSAT Consulting specialists assist foreign entrepreneurs in obtaining a temporary residence permit (TRP) for business immigrants. For a preliminary consultation, please provide your contact information in the contact form, and our specialists will contact you to answer all your questions.
