Kazakhstan

Kazakhstan is emerging on the leader board year after year according to the World Bank’s “Doing Business” survey; in 2016 it ranked the 41st place with regard to the business setting up conditions among the countries of the world. It was ranked on the 8th place among the countries of Central and Eastern Europe and the Middle East. The analysis reveals that the administrative work is tremendously high around the commercial licenses with a lot of paper work and time to get all of them.

Suggested ways to get into the markets: Due to the large distance and high prices it is difficult to find international professional exhibitions. However it is advisable to visit at least one trade show in Kazakhstan to those who have serious intension, to get to know the specific market and to have a look at market-intensive competitors.

Company formation: On the 8th of January, the Act on Investments came into force. The regulation makes no difference between domestic and foreign investors. Presidential decree regulates the preferences for working capital investors in state-founded areas.

Foreign capital investments play an important role in Kazakhstan’s economic development. Petroleum and other minerals attract foreign investment, which have contributed to the introduction of new and modern technologies, job creation and the emergence of new forms of employment and training. Investments in the oil sector also played role in the development of Kazakhstan’s financial sector.

Tax:

  • The rate of general sales tax is 12%
  • Corporate tax is 20%
  • Personal income tax is 12%

The government annually establishes the number of foreign workers employed in each region.