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Guide to starting Business in Kazakhstan

Staff Reporter | 4:28 PM |



Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Kazakhstan. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.
This information was collected from World Bank: Doing Business 
No.ProcedureTime to CompleteAssociated Costs
1Pay registration fee into the account of the Ministry of Justice1 dayincluded in procedure 2
2State registration of legal entity and tax registration at the Public Registration Center14 daysKZT 3236
3Make a company seal1 dayKZT 2,000 - KZT 4,500
4Notarize certificate of state registration and other post-registration documents1 day10% MCI per page
5Open the current account in the bank1 dayno charge
6Register for the obligatory insurance of life and health for employees1 dayno charge