Kazakhstan securities token (sto) exchange license

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Kazakhstan securities broker-dealer license

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Kazakhstan remittance and payment institution license

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Kazakhstan payment services provider (psp) license

Kazakhstan payment services provider

Payment Services Providers are primarily involved in the business of transmitting payments from customers to businesses such as service providers electronically. They are also sometimes associated with payment gateways. Generally, Payment Services Providers are used for credit card bill payments, fund transfers, payment of utility bills, goods and flight tickets and payment to online merchants.

A Payment Services Provider (PSP) License is obtained in Kazakhstan after registering as a Domestic TOO (Ltd. Company) which then obtains subsequent permission as a Financial Service Provider from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (‘Agency’) and Ministry of Economy. The license allows the business to accept customers from other jurisdictions.

While as a Payment Services Provider you may be involved primarily in payment transmission, a Kazakhstan Payment Services Provider (PSP) License also enables businesses to perform a wide variety of activities including e-wallet services, crypto exchange, foreign exchange and securities dealing, financial consulting, depository agent activities, merchant services, issuance of debit cards (in specific cases), hosting of currency and crypto trading platforms and software development. It must be highlighted here that a Kazakhstan Payment Services Provider (PSP) License is unique because it is a single license that permits such a wide range of activities.

The basis of the license is not a statue but a permissive regime based on express written permission provided by the regulatory authority. While the registration of a financial services company is made with the Ministry of Economy, the Agency is entrusted with functions such as regulation of the financial services, money exchange services, investment funds and insurance companies under the Decree of the President of the Republic of Kazakhstan dated November 11, 2019 No. 203 “On further improvement of the public administration system of the Republic of Kazakhstan”. The permission of the Agency is sought along with the registration of the Ministry of Economy for operating in the financial services sector as a financial services company.

Other Key Benefits

There are many other Key Benefits in obtaining a Payment Services Provider License in Kazakhstan:

  • There is a possibility of 100% foreign ownership
  • The Tax rate can be reduced to close to 0% through permitted structuring
  • A possibility to appoint nominees for more privacy
  • Availability of an IBAN Account and SWIFT Identifier for your financial entity
  • Easy accessibility of a payment services provider

How can I get a Kazakhstan PSP License?

There is a four-stage process for obtaining a Kazakhstan Payment Services Provider (PSP) License.

Stage 1: It involves the collection of documents mentioned below and the preparation of a POA.

Stage 2: Incorporation of a local company that is entered into the Commercial Register which takes around a week. Once the company is incorporated, a Business Identification Number (BIN) is received. In parallel, permission is obtained as a Financial Service Provider from the Ministry of Economy.

Stage 3: After the company is registered and permission is obtained from the Minister of Economy, a bank account is opened for the company and the application process with the Agency is also commenced. The process of registration is normally completed within 4 weeks.

Stage 4: The documents and bank account credentials, debit cards, digipass, and token generators are shipped via courier. An English translation of all documents is also provided.

Kazakhstan PSP License Requirements?

The documentation requirements for a Kazakhstan PSP License are minimal. The only key documents are a Notarized copy of a passport with apostille and notarized POA (provided by us) with the apostille. The appointment of nominees is possible if sought by the applicant. There are no requirements for office, staff, business references or a compliance officer. Only a minimum of 1 (one) director is required. There is also no minimum paid-up capital requirement. Assistance will be provided for filing of annual returns and contact details of an English speaking accountant will be provided.

Kazakhstan PSP License Costs and Time

The fee for the application for a license varies on a case to case basis but is considered to be among the most cost-effective in the world. A license is also generally granted within 6-8 weeks of submission of a fully completed application. It includes the time for obtaining permission from the Ministry of Economy and the Agency.

Empire Global has a team of experienced professionals who will assist you through the entire process of Kazakhstan PSP License application including assistance in the preparation of documents, submission of application and responding to any queries from the Agency and Ministry of Economy. We request you to get in touch with Empire Global at the earliest to understand the entire process in detail and apply for a Kazakhstan PSP License.

 

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Kazakhstan forex exchange license

Kazakhstan forex exchange license

A Kazakhstan Forex Exchange License is the pathway to open a foreign currency trading business. Forex Trade is a lucrative business with billions of dollars being traded on the foreign currency market every day. In fact, it is the largest financial market in terms of the trading volume. With a Forex Exchange License, you can establish a forex trading website or mobile application and receive customers from permitted jurisdictions across the globe. A number of associated activities can be conducted on the Forex Market including providing clients the ability to conduct margin trading activities.

A Forex Exchange License is obtained in Kazakhstan after registering as a Domestic TOO (Ltd. Company) which then obtains subsequent permission as a Financial Service Provider from the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market (‘Agency’) and Ministry of Economy. The license allows the business to accept customers from other jurisdictions.

While as a Forex Exchange License holder you may be involved primarily in forex trading platforms, a Kazakhstan Forex Exchange License also enables businesses to perform a wide variety of activities including e-wallet services, crypto exchange, foreign exchange and securities dealing, financial consulting, depository agent activities, merchant services, issuance of debit cards (in specific cases), hosting of currency and crypto trading platforms and software development. It must be highlighted here that a Kazakhstan Forex Exchange License is unique because it is a single license that permits such a wide range of activities.

The basis of the license is not a statue but a permissive regime based on express written permission provided by the regulatory authority. While the registration of a financial services company is made with the Ministry of Economy, the Agency is entrusted with functions such as regulation of the financial services, money exchange services, investment funds and insurance companies under the Decree of the President of the Republic of Kazakhstan dated November 11, 2019 No. 203 “On further improvement of the public administration system of the Republic of Kazakhstan”. The permission of the Agency is sought along with the registration of the Ministry of Economy for operating in the financial services sector as a financial services company.

Other Key Benefits

There are several other Key Benefits in obtaining Forex Exchange License in Kazakhstan:

  • There is a possibility of 100% foreign ownership
  • The Tax rate can be reduced to close to 0% through permitted structuring
  • A possibility to appoint nominees for more privacy
  • Availability of an IBAN Account and SWIFT Identifier for your business
  • Easy accessibility of a payment services provider

 

How can I get a Kazakhstan Forex Exchange License?

There is a four-stage process for obtaining a Kazakhstan Forex Exchange License.

Stage 1: It involves the collection of documents mentioned below and the preparation of a POA.

Stage 2: Incorporation of a local company that is entered into the Commercial Register which takes around a week. Once the company is incorporated, a Business Identification Number (BIN) is received. In parallel, permission is obtained as a Financial Service Provider from the Ministry of Economy.

Stage 3: After the company is registered and permission is obtained from the Minister of Economy, a bank account is opened for the company and the application process with the Agency is also commenced. The process of registration is normally completed within 4 weeks.

Stage 4: The documents and bank account credentials, debit cards, digipass, and token generators are shipped via courier. An English translation of all documents is also provided.

Kazakhstan Forex Exchange License Requirements?

The documentation requirements for a Kazakhstan Forex Exchange License are minimal. The only key documents are a Notarized copy of a passport with apostille and notarized POA (provided by us) with the apostille. The appointment of nominees is possible if sought by the applicant. There are no requirements for office, staff, business references or a compliance officer. Only a minimum of 1(one) director is required. There is also no minimum paid-up capital requirement. Assistance will be provided for filing of annual returns and contact details of an English speaking accountant will be provided.

Kazakhstan Forex Exchange License Costs and Time

The fee for the application for a license varies on a case to case basis but is considered to be among the most cost-effective in the world. A license is also generally granted within 6-8 weeks of submission of a fully completed application. It includes the time for obtaining permission from the Ministry of Economy and the Agency.

Empire Global has a team of experienced professionals who will assist you through the entire process of Kazakhstan Forex Exchange License application including assistance in the preparation of documents, submission of application and responding to any queries from the Agency and Ministry of Economy. We request you to get in touch with Empire Global at the earliest to understand the entire process in detail and apply for a Kazakhstan Forex Exchange License.

 

PLEASE CONTACT US TO GET MORE INFORMATION!

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Kazakhstan financial services company license

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Kazakhstan electronic money institute (emi) license

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Kazakhstan cryptocurrency offshore hedge fund license

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PLEASE CONTACT US TO GET MORE INFORMATION!

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PLEASE CONTACT US TO GET MORE INFORMATION!

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