How to get a license in the AIFC for a consulting company?

Infospace
20 Jun 2024

Recently, we promised to shed a light on the authorisation process for consultants in the AIFC. Licensed consultants, also known as Ancillary service providers (ASP), are companies that offer consulting services in legal, auditing, accounting, business consultancy, and credit rating assessment.

License types in the AIFC:
▪ Providing Legal Services
▪ Providing Audit Services
▪ Providing Accountancy Services
▪ Providing Consulting Services
▪ Providing Credit Rating Services

Overview of the authorisation process for ASP activities:

Step 1. Filling out the form
Application for a licence to carry on ancillary services can be filled out on www.digitalresident.kz. Сreate and complete an authorisaton application (New application – Authorisation – Ancillary Service), specifying the type of service and providing a description of business processes.

Step 2. Preparation of additional documents
Prepare supporting documents required for authorisation.

Step 3. Payment and submission of the application
Pay the authorisation fee and submit the application to the Regulator.

Step 4. Preliminary approval
At this stage, the company receives “In-Principal Approval” from the Regulator with conditions for obtaining the license. Upon receiving the In-Principle Approval letter, you can proceed to registration, involving the creation of a legal entity.

Step 5. License issuance
Issuance of the license (or multiple licenses).

It is important to remember that each type of license has specific requirements. For example, a company planning to provide legal services must register at least one employee with the AIFC Legal Services Board as a Legal Adviser. And if you’re running an audit firm, you’ll need to appoint an Audit Principal.

More detailed information on the requirements for licensed consultants can be found in the applicable rules: https://lnkd.in/g7SxMdcR

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