General information
Astana International Financial Centre (AIFC) located in Kazakhstan is rapidly emerging as a prime destination for crypto companies. The AIFC offers a strategic gateway to the markets of Central Asia, the Eurasian Economic Union (EAEU), the Middle East, China, Europe and beyond.
Here are some compelling reasons why the AIFC might be the perfect fit for crypto business.
Which businesses need a cryptocurrency licenses?
The digital asset service providers can obtain one or several crypto licenses depending on the business model. The AIFC provides a long list of possible licenses consisting of more than 20 activities, but the most popular are the following:
- Operating a digital asset trading facility
- Providing custody
- Dealing in investments as agent or as principal
- Advising on investments
- Arranging deals in investments
- Managing investments
- Providing money services in relation to digital assets
Advantages of obtaining a crypto license in the AIFC
AIFC offers a robust legal framework specifically tailored to accommodate the needs of fintech and cryptocurrency businesses. The regulations are designed to foster innovation while ensuring compliance with international standards.
Companies registered in AIFC benefit from a range of tax incentives, including exemptions on corporate income tax, property tax, land tax, etc.
In the AIFC there are no restrictions on foreign ownership.
In a short period of its existence, the AIFC took 1st place among financial centers in the Eastern Europe and Central Asia region according to the Global Financial Centers Index 34 rating (as of 09/28/2023), as well as the first place in this region in the Global Green Finance Index 12 rating (as of 10/26/2023).
AIFC is located in Astana, Kazakhstan’s capital, making it an ideal hub for expanding your business footprint. Among all of this, AIFC was able to attract about 11 billion US dollars in investments, which indicates confidence in the AIFC story
AIFC operates under English common law principles, enhancing its appeal to international investors and partners. Also, In 2023, the AIFC was successfully tested for compliance with international FATF standards.
Although the AIFC is not the cheapest jurisdiction in the world, and the business will have to pay certain fees both during the incorporation process and in the future with a certain regularity, the costs will not be so large in comparison, for example, with the UAE or Hong Kong.
The AIFC has created various structures such as Astana Internal Exchange, Tech Hub, Business Connect, Expo Centre, Academy of Law, etc., which help with attracting investments, personnel, solving legal and other issues.
How can we help?
Obtaining a crypto license in AIFC involves several steps. Here's a detailed look at how we assist the companies throughout the process:
Initial Consultation.
We begin with a thorough consultation to understand the business needs and objectives to choose the most appropriate licensing strategy.
Documentation Preparation.
Our team assists in preparing all necessary documentation, ensuring compliance with AIFC’s regulatory requirements and communicating with representatives of the regulator to achieve the best result and get informal feedback regarding the documents.
Application Submission.
We submit your application to the AIFC Financial Services Authority (AFSA) and manage all communication on the company’s behalf.
Up to in-principle approval.
We liaise with AFSA to address any queries or additional requirements, facilitating a smooth approval process. At this stage, our team will help with further meetings, calls, feedback, refinement of various aspects of application.
Fulfilling in-principle conditions and obtaining a licence.
Here we can begin incorporating/registering the legal entity, holding organisational meetings, appointing a board of directors, injecting the initial capital and providing the AFSA with documentation confirming that the licence conditions and recommendations have been completed. If everything is perfect, the AFSA will issue a licence.
Post-Licensing Support.
After obtaining the license, we can provide ongoing support to ensure your business remains compliant with AIFC regulations.
