In this article will be described the procedure of changing the founder in a company (LLP) to a foreign citizen or a foreign legal entity. In other words, we will discuss the purchase of a share in a LLP by a foreign citizen or a non-resident legal entity.

Amendments to the “Rules for issuing invitations, coordinating invitations for entry of foreigners and stateless persons into the Republic of Kazakhstan, issuing, canceling, restoring visas of the Republic of Kazakhstan, as well as extending and reducing their validity” [1](hereinafter referred to as “amendments”) come into force on November 17, 2024.

 In accordance with the Law "On Migration”, set-up of a legal entity, as well as participation in the authorized capital of commercial organizations by joining the list of participants of existing legal entities for foreigners who have not received C5 visa as business immigrants, is prohibited.[1]

Aigerim Masatbaeva,
Legal advisorlaw firm
Qazlegal Consult

Due to the geopolitical situation in the region and the consequences of anti-Russian sanctions over the past few years, many foreign companies are considering registering a business in Kazakhstan.

Aigerim Massatbayeva, 
Legal advisor 
law firm Qazlegal Consult

Due to the geopolitical situation in the region and the consequences of anti-Russian sanctions over the past few years, many foreign companies are considering business registration in Kazakhstan.

Business Identification Number (BIN) is automatically assigned to all local companies upon their registration in Kazakhstan. However, the Tax Code provides cases in which tax authorities should assign BIN to a foreign company. According to paragraph 2 of Article 75 of the Tax Code, information is entered into the state database of taxpayers regarding:

Single entry C5 visa for business immigrants

A business immigrant is a foreign citizen who arrives in Kazakhstan with the purpose of engaging in entrepreneurial activities.

Due to the geopolitical situation in the region and the imposition of sanctions by Western countries in the last few years, many foreign companies have been relocating their business to Kazakhstan. Kazakhstan and Russia are part of a customs union and Kazakhstan has an infrastructure for doing business; many government services operate online.

Due to the geopolitical situation in the region, there has been a sharp increase in interest in opening a corporate account in Kazakhstan by foreign legal entities lately.

• Since April 2022, Kazakhstani banks have been conducting more thorough compliance checks regarding the opening of accounts for foreign legal entities.