AIFC Regulations on AIFC Investment Tax Residency Programme (full text)
BackAIFC Regulations on AIFC Investment Tax Residency Programme
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SCHEDULE 1: INTERPRETATION
1. Definitions
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SCHEDULE 2: FORMS FOR INTERACTION WITH STATE BODIES
1. Form of the Investment Resident Certificate
2. Form of the confirmation letter on execution of investments in accordance with the AIFC Investment Tax Residency Programme
3. Template of the AIFC Authority’s request to the state bodies of the Republic of Kazakhstan for the provision of an Investor Visa to a person who is a non-resident of the Republic of Kazakhstan and the Investment Resident
4. Template of the Office’s request to the Internal Affairs Bodies for the provision of information on the applicant’s citizenship or absence of citizenship of the Republic of Kazakhstan
5. Template of the Office’s request to the State Revenue Committee for the provision of information on the applicant’s residency or absence of residency of the Republic of Kazakhstan for the purposes of the Tax Code -
PART 1: GENERAL
1. Name
These Regulations are the AIFC Investment Tax Residency Programme Regulations 2022.
2. Date of enactment
These Regulations are enacted on the day they are adopted by the Governor.
3. Commencement
These Regulations commence on the day of their publication on the AIFC website.
4. Legislative authority
These Regulations are adopted by the Governor under article 5-1 of the Constitutional Statute and subparagraph 3) of paragraph 9 of the Management Council Resolution.
5. Application of these Regulations
These Regulations apply within the jurisdiction of the AIFC.
6. Object of these Regulations
The object of these Regulations is to make provision for the AIFC Investment Tax Residency Programme (the Programme) provided for by article 5-1 of the Constitutional Statute. 7. Interpretation
Schedule 1 contains definitions used in these Regulations. -
PART 2: INVESTMENT RESIDENT. CHAPTER 1: ELIGIBILITY TO APPLY TO PARTICIPATE IN THE PROGRAMME
8. Right to apply to participate in the Programme
A natural person may apply to the Programme Office to participate in the Programme if the person satisfies the following conditions:
(a) the person is a foreign national or a stateless person;
(b) the person is 18 years old or older;
(c) the person has not been a resident of the Republic of Kazakhstan for the
purposes of the Tax Code at any time within the last 20years preceding the initial application to participate in the Programme;
(d) the person is not a person whose citizenship of the Republic of Kazakhstan (if
any) has been terminated at any time within the last 20 years preceding the initial application to participate in the Programme;
(e) the person intends to execute investments required by the Programme.
9. General Terms and Conditions and application to participate in the Programme
(1) By signing the application to participate in the Programme, which is the acceptance of the General Terms and Conditions, any natural person, who complies with the conditions set out in section 8, obtains the right to participate in the Programme. Herewith, a natural person is recognised as a participant of the Programme after execution of investments in accordance with these Regulations and obtaining of the Investment Resident
Certificate.
(2) An application to participate in the Programme must be accompanied by the following documents:
(a) a questionnaire;
(b) a consent to the collection, processing and storage of personal data;
(c) a copy of the natural person’s passport or another document confirming the natural person’s citizenship or that the natural person is stateless; (d) a bank account statement that:
(i) is issued not earlier than 30 days before the day the application is made to the Office;
(ii) specifies all transactions conducted through the account in the 3 months before the date of issuance of the statement;
(iii) confirms that the applicant has the funds available to execute the investments required by the Programme;
(e) documents confirming the legitimacy of the source of the funds to be invested under the Programme that comply with the requirements provided for in the General Terms and Conditions;
(f) confirmation letter on compliance with the provisions of the Constitutional Statute;
(g) a document confirming the Payment for the Office’s services rendered in relation to the natural person’s participation in the Programme; and
(h) other documents, the provision of which is required in accordance with the Acting Law of the AIFC.
(3) Тhe application to participate in the Programme and any document accompanying the application must be in English or Kazakh, or Russian. If the original language of the document is not English or Kazakh, or Russian, the document must be accompanied by a translation into English or Kazakh, or Russian and the accuracy of the translation or the authenticity of the translator’s signature must be certified by a notary in accordance with the acting legislation of the Republic of Kazakhstan and international treaties ratified by the Republic of Kazakhstan.
(4) In addition to the documents provided for by subsection (2), the Office may request other documents, required in accordance with the Acting Law of AIFC.
10. Decision on application to participate in the Programme
(1) This section applies if a natural person (the applicant) applies to the Programme Office under section 8 to participate in the Programme.
(2) The Office must decide whether the applicant satisfies the conditions mentioned in section 8 and is, therefore, eligible or not eligible to apply to participate in the Programme.
(3) However, the Office may, by notice given to the applicant, require the applicant to provide any information or document that the Office reasonably needs to decide whether the applicant is eligible to apply to participate in the Programme.
(4) If the Office requires the applicant to provide information or a document, the Office does not need to make a decision under this section until the applicant complies with the requirement.
11. Due diligence checks
(1) This section applies if the Programme Office decides under section 10 that a natural person (the applicant) is eligible to apply to participate in the Programme.
(2) The applicant must undergo the due diligence checks that the Office considers appropriate to decide whether the Office is satisfied about the following matters (the due diligence matters):
(a) the applicant and each Family Member of the applicant is a person of good character; and
(b) the funds that the applicant proposes to invest in the Programme have been obtained legitimately.
(3) The Office may use an independent professional service provider to conduct all or any of the due diligence checks on its behalf.
(4) The Office may, by notice to the applicant, require the applicant to provide any information or document that it reasonably needs for the due diligence checks.
(5) Without limiting subsection (2)(a), a person is not a person of good character if:
(a) the person has an outstanding conviction in the person’s country of citizenship or residence;
(b) the person has been convicted or found guilty, or is reasonably suspected, of any of the following:
(i) offences related to terrorism or the financing of terrorism;
(ii) war crimes, crimes against humanity or crimes against human rights and fundamental freedoms, as well as offences against the person, sexual violence, and crimes against children; or
(iii) money laundering offences;
(c) the person is on the International Criminal Police Organisation (commonly known as INTERPOL) lists; or
(d) the person poses a threat to national security, public safety, or health, order of the population of the Republic of Kazakhstan.
(6) Without limiting subsection (2)(b), funds have not been obtained legitimately if they have been obtained directly or indirectly as a result of the commission of or involvement in the commission of a criminal offence.
(7) If after conducting the due diligence checks the Office is satisfied about the due diligence matters, the applicant must provide the Office with the documents confirming the execution of the investments set out in section 17 within the period determined by the Office and set out in the application to participate in the Programme.
(8) If the Office is not satisfied about the due diligence matters, the Office must, by notice given to the applicant, inform the applicant that the applicant is not eligible to become an Investment Resident.
(9) The Office reserves the right to check the legality of the origin of funds when Investment Resident replenishes investments to the Minimum Investment Volume or replaces investments. -
CHAPTER 2: INVESTMENT REQUIREMENTS FOR THE PROGRAMME
12. Application of the chapter
This chapter applies to a natural person (the applicant) if the Programme Office is satisfied about the due diligence matters.
13. Minimum Investment Volume
The Minimum Investment Volume for the Programme is 60,000 US dollars or an equivalent amount in another currency.
14. Requirements for invested funds
Funds invested in the Programme must satisfy the following requirements:
(a) the funds must be free from any pledge, lien, arrest, security interest, claim, rights of a third party, or other encumbrance, whether private or public;
(b) the funds must be in the possession, or under the exclusive control of the applicant; and
(c) the funds must not subject to any existing or expected decision, injunction, decree, ruling, arbitral award, or undertaking, arising from legal or arbitral proceeding.
15. Investment Instruments
(1) For the participation in the Programme, the funds must be invested in the following Investment Instruments:
(a) Shares, stakes in the capital, units in Funds incorporated in the AIFC;
(b) Securities listed on the Astana International Exchange (AIX);
(c) investments in the capital of a legal entity registered in accordance with the Acting Law of the AIFC.
(2) The Office, in writing, approves the Types of Investment Instruments that are eligible for the Programme under Investment Instruments provided for by this section.
(3) The Office reserves the right to make appropriate decisions on the introduction and withdrawal of the Investment Instruments provided for by subsection (1), and the introduction and withdrawal of the Types of Investment Instruments.
(4) The Office must publish Types of Investment Instruments under Investment
Instruments as in force from time to time on the Official Public Source.
(5) The Office, at its discretion, has the right to set out requirements, conditions and limitations on the Types of Investment Instruments.
(6) Only investments executed in the Types of Investment Instruments that meet the requirements, conditions and restrictions imposed by the Office for the Types of Investment Instruments are eligible for the purposes of the Programme. -
CHAPTER 3: INVESTMENT RESIDENT
16. Application of the chapter
This chapter applies to a natural person (the applicant) if the Programme Office is satisfied about the due diligence matters and executed investments in accordance with requirements provided for in Chapter 2.
17. Confirmation of execution of investments
(1) The applicant must provide the Programme Office with the documents confirming the execution of investments.
(2) One or more of the following documents must be provided to confirm the execution of investments:
(a) a copy of the bank transfer or payment order to the personal account of the
Person, in whose favour investments were executed;
(b) an extract from the unitholder register;
(c) a document, containing a confirmation by the Person, in whose favour investments were executed, on the receipt of funds from the applicant to its personal bank account;
(d) an extract from the limited partnership register provided by the AIFC Registrar of Companies;
(e) a copy of the warrant or share certificate;
(f) an extract from a register of shareholders provided by the AIFC Registrar of Companies or an extract from a register of shareholders of a legal entity;
(g) a payment document confirming the contribution to the capital or payment of shares, participation interests;
(h) a statement from a brokerage account, a broker’s report;
(i) other documents satisfying the requirements provided for in the General Terms
and Conditions.
(3) The above list is not exhaustive and the Office, at its reasonable discretion, has the right to request additional documents confirming the execution of investments, the provision of which is necessary in accordance with the requirements of the Acting Law of the AIFC. (4) In this section:
Person means legal entity registered in accordance with the Acting Law of the AIFC in whose favour investments were executed.
18. Procedure for combination of Types of Investment Instruments
(1) The applicant has the right to invest funds in more than one Type of Investment Instruments at a time within one Investment Instrument provided for by section 15, subject to the requirements set out by the Programme Office.
(2) When investing funds in more than one Type of Investment Instruments in accordance with subsection (1), the total amount of the investments must not be less than the amount set out in section 13.
(3) Investing funds in more than one Investment Instrument provided for by section 15 at a time is prohibited.
19. Investment Resident
(1) A natural person will only be recognised as a participant of the Programme after investing funds in accordance with these Regulations and obtaining the Investment Resident Certificate.
(2) To qualify to become an Investment Resident, the applicant must satisfy the following requirements:
(a) the applicant must within the required period provide the Office with the documents confirming the execution of investments in Investment Instrument provided for by section 15(1);
(b) the funds must be invested in a single Investment Instrument;
(c) the funds invested must total at least the Minimum Investment Volume;
(d) the funds invested must satisfy the requirements of section 14;
(e) the applicant must, within the required period, notify the Office that the requirements mentioned in paragraphs (a), (b) and (c) have been satisfied; and
(f) the applicant must provide the Office with any information or document that the Office reasonably requires by notice given to the applicant.
(3) For subsection (2), funds invested by the applicant before the required period are taken to be funds invested within that period if the funds are approved under section 24.
(4) If the Office is satisfied that the applicant is qualified to become an Investment Resident, the Office may issue the Investment Resident Certificate to the applicant. The Investment Resident Certificate must be in accordance with form 1 in Schedule 2.
(5) On the issuance of the Investment Resident Certificate, the applicant becomes an Investment Resident for the period (not longer than 5 years) stated in the Investment Resident Certificate, but subject to the other provisions of these Regulations that provide for the earlier termination of the Investment Resident Certificate.
(6) For the avoidance of any doubt, the issuance of the Investment Resident Certificate to
the applicant operates solely in relation to the status of the applicant as an Investment Resident and does not operate to make a Family Member or anyone else an Investment Resident.
(7) In this section:
required period means the period specified by the Office and set out in the application to participate in Programme. -
CHAPTER 4: PRESERVATION, REPLACEMENT, AND MONITORING OF INVESTMENTS
20. Application of the chapter
This chapter applies to the Investment Resident and the funds invested (investments) in Investment Instrument.
21. Preservation of investments
(1) An Investment Resident must keep investments for the entire period of the validity of the Investment Resident Certificate unless an Investment Resident exercises the right to replace Investment Instrument and/or Types of Investment Instruments as provided for in section 22.
(2) After the replacement of Investment Instrument and/or Types of Investment Instruments, the Investment Resident must keep investments until the expiration of the Investment Resident Certificate.
22. Replacement of Investment Instrument and/or Types of Investment Instruments
(1) An Investment Resident has the right to replace Investment Instrument and/or Types of Investment Instruments in which the funds were invested subject to compliance with the requirements set out in this section.
(2) When making replacement of Investment Instrument and/or Types of Investment Instruments, the Investment Resident has the right to combine Types of Investment Instruments in accordance with the procedure prescribed by section 18.
(3) The Investment Resident must notify the Programme Office of making the replacement of Investment Instrument and/or Types of Investment Instruments by attaching documents confirming the execution of subsequent investments that meet the requirements of section 17 within 10 business days from the date of the replacement. Investment Resident is allowed to make full replacement of the Investment Instrument or full or partial replacement of the Types of Investment Instruments.
(4) If the market value of subsequent investments executed by the Investment Resident in accordance with this section is lower than the Minimum Investment Volume, the Investment Resident must invest additional funds to comply with the Minimum Investment Volume.
23. Monitoring and revaluation of investments
(1) The Programme Office on regular basis monitors the conditions for preserving the investments in the Investment Instrument throughout the entire period of the validity of the Investment Resident Certificate.
(2) The Office may request the Investment Resident or other Person, in whose favour investments were executed, to provide specified documents to the Office for monitoring the preservation of investments. The Investment Resident must provide or ensure the provision by Person of documentary evidence within the period specified in the request.
(3) For monitoring purposes the Office has the right to request in electronic form and/or in hard copy, and the Investment Resident is obliged to provide a detailed report on the current (fair) value of the investments for each Type of Investment Instrument and in aggregate as of the date and in the form determined by the Office, and, if necessary, a market value assessment report of the investments determined by the appraiser in accordance with the acting law of the Republic of Kazakhstan on valuation activity at the date determined by the Office within the period specified in the respective request of the Office.
(4) In this section:
Person means legal entity registered under the Acting Law of the AIFC in whose favour the funds were invested for the Programme, i.e., Fund, company, etc. -
CHAPTER 5: PRE-EXISTING INVESTMENTS AND INVESTMENTS EXECUTED DURING THE PREVIOUS PARTICIPATION IN THE PROGRAMME
24. Pre-existing investments
(1) This section applies if:
(a) a foreign national or stateless person has funds invested in Investment Instrument; and
(b) the funds were invested in the Investment Instrument after the commencement of these Regulations.
(2) The person may apply to the Programme Office for approval for the funds to qualify for section 24(1).
(3) The Office must decide the application and inform the person whether it has granted the approval.
25. Investments executed during the previous participation in the Programme
(1) A foreign national or stateless person who previously participated in the Programme is allowed to re-participate in the Programme, provided that such foreign national or stateless person’s Investment Resident Certificate has not been terminated in accordance with section 27 and such foreign national or stateless person is a person who has complied with and complies with the requirements of the migration legislation of the Republic of Kazakhstan.
(2) A foreign national or stateless person who previously participated in the Programme has the right to request the Programme Office to admit the funds invested in Investment Instrument during the previous participation in the Programme partially or wholly, for the current participation in the Programme.
(3) If the current (fair) value of investments determined in the report at the date of submission of the application to participate in the Programme in the form determined by the Office and, if necessary, a market value of investments, determined by the appraiser in accordance with the acting law of the Republic of Kazakhstan on valuation activity at the date of submission of the application to participate in the Programme, invested by a foreign national or stateless person in the Investment Instrument during the previous participation in the Programme that the Office admits for the current participation in the Programme is less than the Minimum Investment Volume, a foreign national or stateless person must invest additional funds to comply with the Minimum Investment Volume requirements. -
CHAPTER 6: EARLY EXIT FROM THE PROGRAMME AND TERMINATION OF THE INVESTMENT RESIDENT CERTIFICATE
26. Early exit from the Programme
(1) The Investment Resident has the right to terminate the participation in the Programme before the expiration of the Investment Resident Certificate by submitting a respective notice of termination to the Programme Office.
(2) In case of early termination of the participation in the Programme, the Office sends a request to the relevant state bodies of the Republic of Kazakhstan to cancel the Investor Visa or terminate the Temporary Residence Permit of the Investment Resident, as well as the Investment Resident’s Family Members. Provided that, the Investment Resident and the Investment Resident’s Family Members are obliged to leave the Republic of Kazakhstan within the period specified by the acting migration legislation of the Republic of Kazakhstan.
27. Termination of the Investment Resident Certificate
(1) Upon the Programme Office’s discovery of non-compliance of an Investment Resident with the requirements and conditions of the Programme, the Investment Resident will be subject to termination of the Investment Resident Certificate.
(2) The termination of the Investment Resident Certificate refers to the notice of termination of the Investment Resident Certificate that is sent by the Office in the manner provided for in the General Terms and Conditions.
(3) In cases of detection of non-compliance with the requirements and conditions of the Programme the Programme, the Office notifies the Investment Resident of the failure to fulfill the obligations specified in these Regulations and/or in the General Terms and Conditions and the need to eliminate the non-compliance within a period specified in the respective notice of the Office.
(4) If the Investment Resident does not take measures to eliminate the non-compliance with the requirements and conditions of the Programme within the period specified in the notice on non-compliance, the Office notifies the Investment Resident of the termination of the Investment Resident Certificate and initiates a request for cancellation of the Investor Visa or the termination of the Temporary Residence Permit of the Investment Resident and the Investment Resident’s Family Members.
(5) After the termination of the Investment Resident Certificate, the Investment Resident is not entitled to use the tax benefits provided for by the Tax Code and the Constitutional Statute under the Programme. -
CHAPTER 7: INVESTOR VISA AND TEMPORARY RESIDENCE PERMIT
28. Investor Visa and Temporary Residence Permit
(1) The issuance of an Investor Visa to an Investment Resident or Temporary Residence Permit to an Investment Resident, who is a citizen of a country, with which Republic of
Kazakhstan has ratified a visa waiver agreement, as well as to Family Members of an Investment Resident, is carried out in accordance with the acting migration legislation of the Republic of Kazakhstan. The validity period of an Investor Visa or Temporary Residence Permit for Family Members of an Investment Resident cannot exceed the validity period of an Investment Resident’s Investor Visa or a Temporary Residence Permit.
(2) An Investor Visa and Temporary Residence Permit gives an Investment Resident and
Family Members of an Investment Resident the right to multiple entry into the Republic of Kazakhstan, travel through its territory, stay in the Republic of Kazakhstan and leave the Republic of Kazakhstan for a time, for the purposes and under the conditions established by the acting migration legislation of the Republic of Kazakhstan.
(3) At the request of an Investment Resident, the Programme Office or AIFC Authority may send the documents required in accordance with the acting migration legislation of the Republic of Kazakhstan to the Ministry of Foreign Affairs or the Internal Affairs Bodies for processing for the issuance of an Investor Visa for the Investment Resident or a Family Member of the Investment Resident.
(4) At the request of an Investment Resident, the Office or AIFC Authority may send the documents required in accordance with the acting migration legislation of the Republic of Kazakhstan to the Internal Affairs Bodies for processing for the issuance of a Temporary Residence Permit for the Investment Resident or a Family Member of the Investment Resident.
(5) To obtain an Investor Visa for an Investment Resident, the request of the AIFC Authority for provision of an Investor Visa to a person who is a non-resident of the Republic of Kazakhstan and who is an Investment Resident is sent to the state bodies of the Republic of Kazakhstan. The request must be in accordance with form 3 in Schedule 2.
(6) The Ministry of Foreign Affairs and the Internal Affairs Bodies consider the documents provided by the Office and/or AIFC Authority in accordance with the acting migration legislation of the Republic of Kazakhstan, and, upon meeting the requirements of the acting migration legislation of the Republic of Kazakhstan, provide an Investment Resident and Family Members of an Investment Resident with an Investor Visa or a Temporary Residence Permit in the manner and on the terms set out by the legislation of the Republic of Kazakhstan.
(7) The Office is not liable to the Investment Resident for the refusal of the state bodies of the Republic of Kazakhstan to issue an Investor Visa or Temporary Residence Permit to the Investment Resident and Family Members of the Investment Resident. -
PART 3: TAX RESIDENCY UNDER PROGRAMME
29. Obtaining the residency of the Republic of Kazakhstan for the purposes of the Tax Code
(1) An Investment Resident by complying with all the requirements provided for by the acting tax legislation of the Republic of Kazakhstan obtains the residency of the Republic of Kazakhstan for the purposes of the Tax Code.
(2) To obtain a document confirming residency of the Republic of Kazakhstan for the purposes of the Tax Code, an Investment Resident must provide, along with other documents determined by the Tax Code, a confirmation letter issued by the AIFC Authority for the relevant period on the execution of investments in compliance with the Programme in accordance with form 2 in Schedule 2.
(3) The residency of the Republic of Kazakhstan for the purposes of the Tax Code can be obtained only by the Investment Resident solely.
30. Document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code
(1) Subject to compliance with the requirements set out by the acting tax legislation of the Republic of Kazakhstan, an Investment Resident may apply to the Tax Authority for the issuance of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code.
(2) A document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code is issued for the year in which the fee for the issuance of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code was paid.
(3) The amount of the fee for the issuance of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code is established by the acting tax legislation of the Republic of Kazakhstan.
(4) If the Tax Authority refuses to provide a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code to an Investment Resident, the Investment Resident may submit a tax application for confirmation of residency as a foreign national or stateless person who is a resident for the purposes of the Tax Code in accordance with acting tax legislation of the Republic of Kazakhstan.
(5) The Programme Office is not liable to the Investment Resident for the decision of the Tax Authority with respect to the rejection to grant the Investment Resident with a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code. -
PART 4: TAXATION UNDER PROGRAMME
31. Applicable tax regime for Investment Resident
(1) An Investment Resident, who is a resident of the Republic of Kazakhstan for the purposes of the Tax Code is subject to the tax benefits provided for by the Constitutional Statute and the Tax Code, only if the fee for the issuance of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code was paid.
(2) The income of the Investment Resident, who is a resident of the Republic of Kazakhstan for the purposes of the Tax Code, received from the sources in the Republic of Kazakhstan is subject to taxation in accordance with the acting tax legislation of the Republic of Kazakhstan.
32. Applicable tax regime for Family Members of Investment Resident
The income of a Family Members of an Investment Resident is subject to taxation in accordance with the acting tax legislation of the Republic of Kazakhstan. -
PART 5: INTERACTION WITH STATE BODIES
33. Application of the chapter
This chapter applies to the natural person who signed the application to participate in the Programme (the applicant), Investment Resident and their Family Members.
34. Interaction of the Office with state bodies
(1) The Office within its competence coordinates with the state bodies of the Republic of Kazakhstan on issues related to the applicants and Investment Residents, as well as their Family Members under the Programme. The Office may request a state body of the Republic of Kazakhstan to provide information required under the Programme relevant to an applicant, Investment Resident and their Family Members.
(2) The request must be made by sending an official request to the state body with consent to the collection, processing, and storage of personal data of the applicant, Investment Resident and their Family Members.
(3) The state body must provide the information to the Office within 15 working days from the day the state body receives the official request of the Office.
35. Interaction of the Office with Ministry of Foreign Affairs
The Office within its competence coordinates with the Ministry of Foreign Affairs on issues related to the granting and extension of Investor Visas as well as issues relating to their cancellation.
36. Interaction of the Office with Internal Affairs Bodies
(1) The Office within its competence coordinates with the Internal Affairs Bodies on issues related to the citizenship of applicants under these Regulations and the granting and extension of Investor Visas or and Temporary Residence Permits, as well as issues related to their cancellation or termination.
(2) The Office requests the Internal Affairs Bodies for information in relation to the applicant about the citizenship or absence of citizenship of the Republic of Kazakhstan of the latter. The request for information must be in accordance with the template in form 4 in Schedule 2.
(3) The Internal Affairs Bodies provide information on the applicant’s citizenship or absence of citizenship of the Republic of Kazakhstan within 15 working days from the date of sending the request. The Internal Affairs Bodies provide information with the identification data of the applicant via an electronic document management system.
37. Interaction of the Office with State Revenue Committee
(1) The Office within its competence coordinates with the State Revenue Committee on the payment by the Investment Resident of the fee for the issuance of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code and receipt of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code by the Investment Resident.
(2) The Office requests the State Revenue Committee for information in relation to the applicant about the residency or absence of residency of the Republic of Kazakhstan for the purposes of the Tax Code of the latter. The request for information must be in accordance with the template in form 5 in Schedule 2.
(3) The State Revenue Committee provides information on the applicant’s residency or absence of residency of the Republic of Kazakhstan for the purposes of the Tax Code within 15 calendar days from the date of sending the request. The State Revenue
Committee provides information in writing with the identification data of the applicant.
(4) At the request of the Office, the State Revenue Committee provides information on the payment by the Investment Resident of the fee for the issuance of a document confirming the residency of the Republic of Kazakhstan for the purposes of the Tax Code, within 15 calendar days from the date of sending the respective request. -
PART 6: MISCELLANEOUS
38. Authorised representative
(1) A natural person (the investor) may appoint a Person (the representative) to represent the investor’s interests for the purposes of Programme (including these Regulations).
(2) The investor must notify the Programme Office of the appointment of the representative.
(3) If the investor acts through a representative, the Office must be provided with the copy of identity document of a representative and a document confirming the authority to represent the interests of the investor in relation to the specified matters. Provided that, such a document must be:
(a) certified in accordance with the procedure provided for by the legislation of the Republic of Kazakhstan; or
(b) legalised or apostilled in accordance with international treaties ratified by the Republic of Kazakhstan, and if the original language of the document is not in English, Kazakh or Russian language, the document must be accompanied by a translation into English, Kazakh or Russian language respectively, and the accuracy of the translation or the authenticity of the translator’s signature must be certified by a notary in accordance with the acting legislation of the Republic of Kazakhstan and international treaties ratified by the Republic of Kazakhstan.
(4) If the authority given to representative has been revoked or amended, the investor must notify the Office (in force when the subsequent notice is given to the Office).
(5) The subsequent notice to the Office revokes, as the case may be, the authority given to the representative by the earlier notice (in force when the subsequent notice is given to the Office).
(6) If the authority given to representative have been amended, the Office must be provided with an updated document confirming the authority to represent the interests of the investor. Such document is subject to requirements provided for in subsection (3).
39. Determination of the Payments
(1) The Office may, in writing, determine the Payments that are to be made to the Office or another Person for the purposes of these Regulations.
(2) Without limiting subsection (1), the Payment may be determined in relation to:
(a) the Exercise by the Office or another Person of a Function under or in connection with these Regulation, including, for example, the receipt or issuance of any document by the Office;
(b) the provision of a service or facility by the Office or another Person under or in connection with these Regulations; or
(c) carrying out other actions by the Office or another Person under or in connection with these Regulations.
(3) Without limiting subsection (1), a determination under this section may make provision about the following in relation to the Payment:
(a) how the Payment is to be calculated;
(b) the circumstances in which the Payment is payable;
(c) exempting a Person from the Payment;
(d) when the Payment is made and how it is to be paid, (for example, as a lump sum or in instalments);
(e) whether the Payment may be waived or refunded and, if so, the circumstances in which it may be waived or refunded;
(f) when the fee is taken to have been paid (or not paid).
(4) If the Payment is made under a determination under this section for the Exercise of a Function, the provision of a service or carrying out other actions, then the Exercise of a Function, the provision of a service or carrying out other actions is not needed until the Payment is made.
(5) The Payment made to the Office for the Exercise of a Function, the provision of a service or carrying out other actions is non-refundable.
(6) The Office must ensure that a determination in force under this section is available on the Official Public Source or by another manner that the Office considers appropriate.
(7) The amounts of the Payments is established by the General Terms and Conditions. The procedure and terms of the Payment, as well as the provision of a document confirming the Payment are governed by the provisions of the General Terms and Conditions.
(8) In this section:
Person means independent service provider contracted by the Office for the purposes of the Programme.
40. General Terms and Conditions
(1) The Programme Office may, in writing, determine conditions (the General Terms and Conditions) for the Programme, which are additional to the provisions made by these Regulations.
(2) General Terms and Conditions is a public offer for natural persons who meet the requirements of the Programme provided for in section 8 that defines the general conditions for participation in the Programme, including the rights and obligations of the applicant / Investment Resident and the rights and obligations of the Office.
(3) Submission of an application to participate in the Programme implies the acceptance of the General Terms and Conditions. The Office must publish the General Terms and Conditions, as in force from time to time on the Official Public Source.
41. Official Public Source of the Programme
(1) The Chairman of the Board of the Office may in writing approve an electronic platform which shall constitute the Official Public Source of the Office.
(2) The Official Public Source is one of the means of communication between the Office and a natural person (the applicant) applying to participate in the Programme / Investment Resident.
(3) The Office publishes this AIFC Regulations, General Terms and Conditions and other documents determining the procedure and conditions for participation in the Programme on the Official Public Source.
(4) The Office notifies the applicant / Investment Resident of any changes to this AIFC Regulations, General Terms and Conditions and other documents determining the procedure and conditions for participation in the Programme by publishing such changes on the Official Public Source. -
SCHEDULE 1: INTERPRETATION
1. Definitions
In these Regulations:
Acting Law of the AIFC has the meaning given by article 4 of the Constitutional Statute.
AIFC mean Astana International Financial Centre.
AIFC Authority means a non-profit organisation established by the National Bank of the Republic of Kazakhstan. The AIFC Authority supports the activities of the other AIFC Bodies and their organisations, as well as the AIFC Participants and their Employees, and represents their interests to the extent of its competence.
Board of the Office means the Office’s governing body.
Chairman of the Board of the Office means the presiding officer of the Board of the Office.
Constitutional Statute means Constitutional Statute of the Republic of Kazakhstan dated 7 December 2015 № 438-V entitled On the Astana International Financial Centre.
Exercise a Function includes perform the Function.
Family Member, of a natural person (the relevant person), means:
(a) a person (a spouse) 18 years old or older who is married to the relevant person; or
(b) a person under 18 years old who is a child (including an adopted child) of the relevant person or a spouse of the relevant person;
but does not include a natural person who is an Investment Resident.
Function includes authority, duty and power.
General Terms and Conditions: see section 40.
Governor means the Governor of the Astana International Financial Centre.
Internal Affairs Bodies mean law enforcement agencies intended for protection of life, health, rights and liberties of an individual and a citizen, interests of society and the state from unlawful encroachments, protection of public order and ensuring public safety.
Investment Resident means a foreign national or stateless person who has made an investment in accordance with the Programme and also meets the conditions set out in paragraph 1 of article 5-1 of the Constitutional Statute.
Investment Resident Certificate, in relation to a natural person, means a document issued by the Office to the person that confirms that the person is an Investment Resident.
Investment Instruments, for the Programme: see section 15.
Investor Visa means an “A5” visa category issued under the acting migration legislation of the Republic of Kazakhstan.
Minimum Investment Volume, for the Programme: see section 13.
Ministry of Foreign Affairs means the Ministry of Foreign Affairs of the Republic of Kazakhstan and its foreign missions, as well as any legal successor.
Management Council means the Management Council of the Astana International Financial Centre.
Management Council Resolution means The Structure of the Bodies of the Astana International Financial Centre, adopted by resolution of the Management Council on 26 May 2016, as amended by resolution of the Management Council, The Amendments and supplementations to the Structure of the Bodies of the Astana International Financial Centre, adopted on 9 October 2017. Official Public Source: see section 41.
Payments means fees, commissions and payments approved by the Office through the adoption of the respective internal documents.
Person includes any natural person or incorporated or unincorporated body, including a company, partnership, unincorporated association, government or state.
Programme means AIFC Investment Tax Residency Programme.
Programme Office (or Office) means the body incorporated under the AIFC Companies Regulations to administer the Programme.
State Revenue Committee means a state body that, within its competence, provides for the receipt of taxes and payments to the budget, customs regulation in the Republic of Kazakhstan, powers to prevent, identify, suppress and disclose administrative offenses attributed to the jurisdiction of this body by the legislation of the Republic of Kazakhstan, as well as exercising other powers, provided for by the legislation of the Republic of Kazakhstan.
Tax Authority means national revenue agencies that perform the tasks in accordance with the tax legislation of the Republic of Kazakhstan.
Tax Code means the Code of the Republic of Kazakhstan On Taxes and Other Obligatory Payments to the Budget of 25 December 2017 No. 120-VI.
Temporary Residence Permit means a document issued by the Internal Affairs Bodies to immigrants upon compliance with the requirements set out by the acting migration legislation of the Republic of Kazakhstan, and granting them the right to reside for a certain period in the territory of the Republic of Kazakhstan depending on the purpose of stay.
Types of Investment Instruments mean assets within Investment Instruments. -
SCHEDULE 2: FORMS FOR INTERACTION WITH STATE BODIES
(provided in separate documents)1. Form of the Investment Resident Certificate
2. Form of the confirmation letter on execution of investments in accordance with the AIFC Investment Tax Residency Programme
3. Template of the AIFC Authority’s request to the state bodies of the Republic of Kazakhstan for the provision of an Investor Visa to a person who is a non-resident of the Republic of Kazakhstan and the Investment Resident
4. Template of the Office’s request to the Internal Affairs Bodies for the provision of information on the applicant’s citizenship or absence of citizenship of the Republic of Kazakhstan
5. Template of the Office’s request to the State Revenue Committee for the provision of information on the applicant’s residency or absence of residency of the Republic of Kazakhstan for the purposes of the Tax Code -
INVESTMENT RESIDENT CERTIFICATE
the AIFC Investment Tax Residency Programme Office hereby certifies that
[Full Name]
Citizen [state the country of nationality, if applicable]
Passport/other document [document number, date and authority of issue]
is an AIFC investment resident
with the following identification number
[Identification number]
in accordance with the Constitutional Statute of the Republic of
Kazakhstan On Astana International Financial Centre and the law of the AIFC for the period [from- to].
[Seal]
Nur-Sultan, Republic of Kazakhstan
-
The State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan
The State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan
CONFIRMATION LETTER
on execution of investments in accordance with the AIFC Investment Tax Residency Programme
Under section 29(2) of the AIFC Regulations On the AIFC Investment Tax Residency Programme dated [●] 2022 (hereinafter referred to as “AIFC
Regulations”), Astana International Financial Center Authority JSC hereby confirms that
[Full Name], citizen of [country of citizenship, if applicable], Passport/Other document No. [●], executed investments in the amount of [●] US dollars (or an equivalent amount in another currency) on [date of execution of investments] in accordance with the AIFC Investment Tax Residency Programme provided for by the Constitutional Statute of the
Republic of Kazakhstan dated 7 December 2015 № 438-V «On Astana International Financial Center» and the AIFC Regulations «On AIFC Investment Tax Residency Programme» No. 42 dated 14 September 2022.
This confirmation letter is issued for the period from [date] to [date].
Full name of the AIFC investment resident:
Number of the Investment Resident Certificate:
Position of an authorized person Full name of an authorized person
Signature
-
Request for the provision of an investor visa to person who is non-resident of the Republic of Kazakhstan and the AIFC investment resident
[to whom] Full name of the investment resident
Address of the place of temporary residence
(Indicated if the AIFC investment resident is on the territory of the Republic of Kazakhstan)
Request for the provision of an investor visa to person who is non-resident of the Republic of Kazakhstan and the AIFC investment resident
Based on the results of consideration of the application, Astana International Financial Centre Authority considers it possible to issue an investor visa to the AIFC investment resident for a period of years.
Full name of the AIFC investment resident:
Number of the Investment Resident Certificate:
Position of an authorized person Full name of an authorized person
Signature
-
The Ministry of Internal Affairs of the Republic of Kazakhstan
The Ministry of Internal Affairs
of the Republic of Kazakhstan
Regarding the provision of information on
the natural person’s citizenship or absence
of citizenship of the Republic of
Kazakhstan
The Office of AIFC Investment Tax Residency Programme Ltd. (hereinafter referred to as “Office”) administers the AIFC Investment Tax Residency Programme (hereinafter referred to as “Programme”) under the Constitutional Statute of the Republic of Kazakhstan dated 7 December 2015№ 438-V «On Astana International Financial Center»
(hereinafter referred to as “Constitutional Statute”) and the AIFC Regulations On the AIFC Investment Tax Residency Programme No. 42 dated 14 September 2022 (hereinafter referred to as “AIFC Regulations”).
Under paragraph 1 of article 5-1 of the Constitutional Statute, an investment resident of the AIFC is a foreign national or a stateless person who is not a person whose citizenship of the Republic of Kazakhstan has been terminated within the last 20 years prior the application to participate in the Programme.
Under article 30 of the Law of the Republic of Kazakhstan dated 20 December 1991
No. 1017-XII “On citizenship of the Republic of Kazakhstan” the internal affairs bodies register the acquisition of citizenship of the Republic of Kazakhstan and renunciation of citizenship of the Republic of Kazakhstan, register the admission to citizenship of the Republic of Kazakhstan, as well as register its loss.
Under section 36 of the AIFC Regulations, the internal affairs bodies provide information on the applicant’s citizenship or absence of citizenship of the Republic of Kazakhstan with the identification data of the applicant within 15 working days from the date of sending the request via an electronic document management system.
Thus, based on the above, please confirm that [Full Name], Citizen [country of citizenship, if applicable], [Passport/other document number] is not a person whose citizenship of the Republic of Kazakhstan has been terminated within the last 20 years before the application to participate in the Programme.
Applications:
1) a copy of the passport/other document if applicable [Full Name];
2) consent to the collection, processing and storage of personal dataPosition of an authorized Full name of an authorized
person person
Signature
-
The State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan
The State Revenue Committee
of the Ministry of Finance of the
Republic of Kazakhstan
Regarding the provision of information on the natural
person’s residency or absence of residency of the
Republic of Kazakhstan for the purposes the Code of
the Republic of Kazakhstan “On taxes and other
obligatory payments to the budget”The Office of AIFC Investment Tax Residency Programme Ltd.
(hereinafter referred to as “Office”) administers the AIFC Investment Tax
Residency Programme (hereinafter referred to as “Programme”) under the
Constitutional Statute of the Republic of Kazakhstan dated 7 December 2015№ 438-V «On Astana International Financial Center» (hereinafter referred to as “Constitutional Statute”) and the AIFC Regulations On the AIFC Investment Tax Residency Programme No. 42 dated 14 September 2022
(hereinafter referred to as “AIFC Regulations”).
Under paragraph 1 of article 5-1 of the Constitutional Statute, an investment resident of the AIFC is a foreign national or a stateless person who the person that has not been a resident of the Republic of Kazakhstan for the purposes of the Code of the Republic of Kazakhstan “On taxes and other obligatory payments to the Budget” (hereinafter referred to as “the Tax Code”) at any time during the twenty year period preceding the initial request to participate in the Programme.
Thus, based on the above, please confirm that [Full Name], Citizen [country of citizenship, if applicable], [Passport/other document number] is not a person who has been a resident of the Republic of Kazakhstan for the purposes of the Tax Code at any time during the twenty- year period preceding the initial request to participate in the Programme.
Applications:
1) a copy of the passport/other document if applicable [Full Name];
2) consent to the collection, processing and storage of personal dataPosition of an authorized Full name of an authorized
person person
Signature