Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the AFSA decision, including banking and payment rails.
Get an investment license in Kazakhstan.
Central Asia's common-law centre: AFSA authorisation in the Astana International Financial Centre - base capital of US$10,000 for advising, US$150,000 for managing investments and US$500,000 for dealing as principal or custody, with English common law, AIFC courts and a simplified route for advisory and arranging models.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Kazakhstan in brief
A common-law financial centre where the map has none.
The Astana International Financial Centre is a jurisdiction inside Kazakhstan with its own English-language, common-law legal system, its own courts and its own regulator - the Astana Financial Services Authority. Base capital under the AIFC Prudential Rules for Investment Firms is graded by activity: US$10,000 to advise on investments, US$150,000 to manage investments, US$500,000 to deal as principal or provide custody services, and US$50,000 where dealing is restricted to matched orders. Intermediary firms hold base capital alone; dealing firms add credit, market and operational risk components on top. AFSA has also introduced a simplified authorisation route - a shortened application with reduced documentation - for six activities including investment advisory and arranging deals.
The commercial case is position and novelty. Kazakhstan sits between China, Russia, Turkey and Central Asia, holds most of the region's investable capital, and the AIFC was built specifically to give that capital a common-law home - with tax exemptions for centre participants, English as the working language and courts staffed by international judges. For managers serving Central Asian and Caspian wealth, funds allocating into regional infrastructure and firms wanting a common-law licence without Gulf or European cost, the AIFC is the region's only credible answer. We build the AFSA file end to end.
Central Asia's common-law centre: AFSA authorisation in the AIFC - base capital US$10,000 to advise, US$150,000 to manage investments, US$500,000 to deal as principal or hold custody, US$50,000 for matched-principal dealing only.
Intermediary firms hold base capital alone; dealing firms add credit, market and operational risk capital. A simplified route covers advisory and arranging. Centre-level tax exemptions on qualifying activity.
The capital ladder
Advising at US$10,000 - managing at US$150,000 - dealing at US$500,000.
AFSA prices base capital by regulated activity, and the difference between intermediary and dealing firms is structural, not cosmetic. We scope the activities first.
The US$150k manager and US$10k adviser - or the dealing firm.
01 - MANAGING · ADVISING
The intermediary firm
Managing investments at US$150,000 base capital, advising at US$10,000. Intermediary investment firms hold base capital alone, without the risk-based add-ons that dealing attracts.
Managing investments at US$150,000 base capital, advising at US$10,000. Intermediary investment firms hold base capital alone, without the risk-based add-ons that dealing attracts.
- ✓Managing investments - US$150,000
- ✓Advising on investments - US$10,000
- ✓Arranging deals in investments
- ✓Base capital only - no risk add-ons
- ✓Simplified route for advisory/arranging
- ✓Fund management activities alongside
02 - DEALING · CUSTODY
The dealing firm
Dealing as principal at US$500,000 - or US$50,000 where limited to matched orders - plus custody at US$500,000, with credit, market and operational risk capital added on top of base.
Dealing as principal at US$500,000 (US$50,000 matched-only) and custody at US$500,000. With Basel-referenced risk capital set individually at authorisation.
- ✓Dealing as principal - US$500,000
- ✓Matched orders only - US$50,000
- ✓Providing custody - US$500,000
- ✓Credit + market + operational capital
- ✓Basel-referenced risk rules
- ✓Set individually at authorisation
Base capital per the AIFC Prudential Rules for Investment Firms, Table 3.3, as of 2026. Risk-based components for dealing firms are imposed individually at authorisation.
Why the AIFC
Six reasons managers choose Astana.
✓
Common law in Central Asia
The AIFC runs English common law with its own courts. The only jurisdiction in the region where documents read as they do in London.Only one in the region.
✓
US$10,000 to advise
The advisory entry is the lowest of any common-law centre. A real licence at a price that lets a boutique test the region.Lowest in its class.
✓
Graded, proportionate capital
US$10k advising, US$150k managing, US$500k dealing. The ladder tracks risk instead of flattening it.Capital tracks risk.
✓
The simplified route
AFSA cut the application form and documentation for advisory and arranging models. Proportionality actually implemented.Proportionality, real.
✓
Regional capital pool
Kazakhstan holds most of Central Asia's investable wealth, with a sovereign fund and pension system to match.Central Asia's wealth.
✓
Centre-level tax treatment
AIFC participants receive tax exemptions on qualifying activity. The incentive that made the centre credible from day one.Built into the design.
How it compares
How Kazakhstan differs from other routes.
The comparison, side by side: common-law licensing at the lowest capital in its class. In a market still building depth.
AIFC vs other jurisdictions
| Feature |  AIFC - Kazakhstan | Other jurisdictions |
|---|---|---|
| Regime | AFSA - AIFC rules | DFSA, MiFID, national law |
| Advising capital | US$10,000 | US$10k-€75k |
| Managing capital | US$150,000 | US$500k-€150k |
| Legal system | English common law | Civil or common |
Regime
AIFC - KazakhstanAFSA - AIFC rules
Other jurisdictionsDFSA, MiFID, national law
Advising capital
AIFC - KazakhstanUS$10,000
Other jurisdictionsUS$10k-€75k
Managing capital
AIFC - KazakhstanUS$150,000
Other jurisdictionsUS$500k-€150k
Legal system
AIFC - KazakhstanEnglish common law
Other jurisdictionsCivil or common
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Kazakhstan - AIFC | AFSA investment firm | Centre exemptions | US$10k-US$500k by activity |
 Dubai - DIFC | DFSA Cat 3C / 4 | 9% · 0% qualifying | US$500k · US$10k advisory |
 Georgia | Brokerage - NBG | 0% retained · 15% | Capital per NBG rules |
 Singapore | MAS CMS licence | 17% + incentives | S$1M-S$5M base capital |
Kazakhstan - AIFCLicense typeAFSA investment firm
TaxationCentre exemptions
RequirementsUS$10k-US$500k by activity
Dubai - DIFCLicense typeDFSA Cat 3C / 4
Taxation9% · 0% qualifying
RequirementsUS$500k · US$10k advisory
GeorgiaLicense typeBrokerage - NBG
Taxation0% retained · 15%
RequirementsCapital per NBG rules
SingaporeLicense typeMAS CMS licence
Taxation17% + incentives
RequirementsS$1M-S$5M base capital
Before you apply
Requirements for the AIFC licence.Requirements for the licence.
AFSA authorises firms it can supervise inside the centre. The checklist below is what a passing file contains.
01
AIFC-registered company. Incorporated in the centre with premises there.
02
Activity map. Advising, arranging, managing, dealing or custody scoped before filing.
03
Base capital. US$10,000, US$150,000, US$500,000 or US$50,000 by activity, evidenced.
04
Risk capital. Credit, market and operational components where the firm deals as principal.
05
Approved individuals. Senior executive officer, compliance officer, MLRO and finance officer.
06
Fit-and-proper controllers. Shareholders vetted to ultimate-owner level.
07
Regulatory business plan. Strategy, clientele and projections AFSA can test.
08
Systems and controls. Governance, risk and compliance per AIFC rules and guidance.
09
Client-asset arrangements. Custody and client-money rules where the permissions touch them.
10
AML/CFT programme. AIFC framework with a named MLRO.
11
Substance in the centre. Staff and operations AFSA can visit in Astana.
01
AIFC company, premises.
02
Activities mapped first.
03
Base capital evidenced.
04
Risk capital if dealing.
05
Approved individuals named.
06
Controllers vetted to UBO.
07
Testable business plan.
08
Systems per AIFC rules.
09
Client assets covered.
10
MLRO and AML live.
11
Substance in Astana.
Reflects AIFC Rules and the Prudential Rules for Investment Firms as of 2026. Simplified authorisation applies to advisory, arranging and four other activities.AIFC Rules + Prudential Rules, 2026.
How it works
From first call to the AFSA register.
01
Activity map
Regulated activities chosen against the real model. The capital line follows from them.Capital follows.
02
Company and bench
AIFC entity registered, base capital arranged, approved individuals identified.Individuals named.
03
The application
Full or simplified AFSA route, with plan and systems documentation complete at submission.Full or simplified.
04
AFSA review
Questions answered on schedule, risk-capital conditions negotiated where dealing applies.Risk terms set.
05
Licence and launch
Authorisation granted, banking and custody live. Operating under common law in Central Asia.Common law, Astana.
Quick facts
RegulatorAFSA
CentreAIFC · common law
AdvisingUS$10,000
Managing investmentsUS$150,000
Dealing as principalUS$500,000
Matched principalUS$50,000
CustodyUS$500,000
Simplified route6 activities
Intermediary firms hold base capital alone; dealing firms add credit, market and operational risk capital set individually at authorisation.
On the ground in Kazakhstan
Run from our Astana office.
Prifinance - Kazakhstan
Astana · AIFC
Astana, Kazakhstan
01
Activity and capital
The model mapped to Table 3.3. Advising, managing or dealing, with the capital that follows each.Table 3.3 mapped.
02
The AFSA file
Regulatory business plan, systems documentation and approved-individual applications. Complete at submission.Complete at filing.
03
Simplified where it fits
Advisory and arranging models routed through AFSA's shortened procedure rather than the full one.Used where it fits.
04
Launch in the centre
Banking, custody and AIFC participation formalities sequenced. The firm live on the regional pool.Banking and custody.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in the AIFC.
Centre-level exemptions on qualifying activity. The incentive the AIFC was built around.
AIFC participant exemptions
Centre participants receive tax exemptions on qualifying financial services. The structural reason the AIFC exists.On qualifying activity.
Qualifying activity matters
The exemption attaches to activities on the AIFC list, so the licence perimeter and the tax position are designed together.Licence = tax design.
Kazakh rates outside
Business outside the qualifying perimeter falls under general Kazakh taxation. Mapped explicitly at structuring.General Kazakh tax.
No currency restrictions in the centre
The AIFC operates its own currency regime for participants. Cross-border flows work as they do in a global centre.Centre rules apply.
Treaty access
Kazakhstan's treaty network applies above the centre. Routing modelled per shareholder map.Above the centre.
Cost base
Salaries, premises and services at Central Asian levels. Real substance at a fraction of Gulf pricing.Substance affordable.
Tax summary
AIFC participantsExemptions on qualifying activity
Outside the perimeterGeneral Kazakh tax
Currency regimeAIFC rules
Legal systemEnglish common law
Cost baseCentral Asian levels
*Position as of 2026 per AIFC rules. Exemption eligibility is confirmed against the qualifying-activity list at structuring.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: AIFC company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
Follow Prifinance
Active across our channels.
Kazakhstan · AFSA
Launch your investment firm in the AIFC with expert support.
Full-service assistance - from activity mapping and AIFC registration to AFSA authorisation and launch - run through our Astana office.
Get a consultation →Free legal opinion
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Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Kazakhstan investment licence - what clients ask.
What licence does an investment firm need in Kazakhstan?+
Authorisation from AFSA inside the Astana International Financial Centre, scoped to regulated activities - advising on investments, arranging deals, managing investments, dealing as principal or providing custody.
What base capital is required?+
Per the AIFC Prudential Rules for Investment Firms: US$10,000 for advising on investments, US$150,000 for managing investments, US$500,000 for dealing as principal or providing custody, and US$50,000 where dealing is restricted to matched orders.
What is the difference between intermediary and dealing firms?+
Intermediary investment firms hold their base capital requirement alone. Dealing firms add credit risk, market risk and operational risk capital on top, referencing Basel standards and set individually during authorisation.
What is the simplified authorisation route?+
AFSA introduced a shortened application with reduced documentation for six regulated activities, including investment advisory and arranging deals in investments - proportionality that materially lowers the entry cost for advisory models.
Is the AIFC really a common-law jurisdiction?+
Yes - the centre operates its own English-language legal framework based on common law, with its own court and international judges. It is the only such jurisdiction in Central Asia.
How are AIFC firms taxed?+
Centre participants receive tax exemptions on qualifying financial services activity. Because the exemption follows the activity list, the licence perimeter and the tax position are designed together.
How long does authorisation take?+
Realistically 4-8 months including preparation, shorter on the simplified route - AFSA moves at the pace of a complete file with identified approved individuals.
AIFC or the DIFC?+
The same common-law logic at different price points and client bases: the DIFC has the deeper wealth pool and higher costs; the AIFC has Central Asian proximity, US$10,000 advisory entry and a lower cost base. Client geography decides - we model both.
What substance does AFSA expect?+
A real operation inside the centre: premises in Astana, approved individuals in place and functions actually performed there. The centre licenses firms it can visit.
Why Prifinance for Kazakhstan?+
Activity mapping that keeps capital at the right rung, the simplified route used wherever it applies, and approved individuals prepared before filing - from our Astana office.
What licence?+
AFSA, inside the AIFC.
Capital?+
US$10k / 150k / 500k.
Intermediary?+
Base capital only.
Simplified route?+
Six activities covered.
Common law?+
Yes, own courts.
Taxes?+
Centre exemptions.
How long?+
4-8 months realistic.
Or the DIFC?+
Pool vs price.
Substance?+
Real Astana presence.
Why you?+
Right rung, right route.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
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Google
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of AFSA or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.