Doing Business in Kazakhstan
Posted in News

ECONOMY

POPULATION INCOME

The monetary unit of the country is the tenge (KZT).

Per capita nominal income of Kazakhstan’s population in December 2014 totalled 72,201 tenge, which is by 10.2% higher than in December 2013, reports the Committee on Statistics of Kazakhstan. During this period, real income of Kazakhstani residents has increased by 2.6%. According to the Statistics Agency, the highest average nominal wage per employee has been recorded in Atyrau region. The regions with the lowest average wage are North Kazakhstan, Zhambyl region, South Kazakhstan and Akmola region.

COMPANIES

As of April 1, 2015 the number of registered legal entities in North-Kazakhstan region has amounted to 9377 units, the Department of Statistics of the region informed.

  • 96.7% of registered enterprises are accounted for by small enterprises (employing up to 100 people).
  • 2.6% – medium-sized enterprises (from 101-250 people) and 0.7% – large enterprises (over 250 people).
  • 7158 (76.3%) legal entities have private ownership, the state – 1782 (19%), foreign – 437 (4.7%).
  • 5831 (62.2%) legal entities are functional, active – 4811 (51.3%), temporarily inactive – 724 (7.7%), not yet active (new) – 296 (3.2%), in the process of liquidation – 71 (0.8%).
  • Business partnerships – 6322 (67.4%), institutions – 1529 (16.3%), consumer cooperatives – 615 (6.5%), associations – 317 (3.4%), state-owned enterprises – 311 (3.3%).

The most intensive processes of creating legal entities in the sectors: wholesale and retail trade, repair of motor vehicles and motorcycles; agriculture, forestry and fisheries construction industry.

 

FOREIGN TRADE

Kazakhstan’s foreign trade turnover decreased by 37% in January-February 2015, compared to the same period of 2014. Foreign trade turnover of Kazakhstan amounted to $13,39 billion in January-February 2015 and decreased by 37%, compared to the same period of 2014. Export totalled $8,53 billion, decreasing by 45,8%, as for import, it made $4,85 billion, decreasing by 12,2% in January-February 2015.

The country’s main imports are:

  • Electronics, machinery and mechanical appliances (25% of total imports)
  • Mineral products (15%)
  • Transport equipment (12%)
  • Base metals and related products (10%).

SETTING UP A BUSINESS

BUSINESSES IN KAZAKHSTAN

Private business in the Republic of Kazakhstan is carried out through various kinds of commercial organisations. All businesses should be registered with the territorial authorities of the Ministry of Justice and receive the corresponding certificates on state registration.

REGISTRATION

1) The legal entity is subject to state registration with the justice authorities, except for cases provided for by acts of the Republic of Kazakhstan. The order of state registration is defined by legislation

2) Data submitted for state registration of commercial organizations, including the company name, joins with the uniform state register of legal entities

3) The legal entity is considered to have been created from the moment of its state registration

4) Branches and representations are registered in the order established by the acts. Branches and representations are subject to a re-registration in cases of a name change

5) Infringement of the order of formation of the legal entity established by the law or discrepancies within the constituent documents will lead to the refusal of state registration for the legal entity. Refusal or evasion of registration can be appealed in court

6) The legal entity is subject to a re-registration in cases where there has been:

− a) A reduction of the authorised capital size

− b) A name change

− c) A changing in the structure of the participants in an economic association (except where the register of participants in the economic association is carried out by the professional participant of a securities market, who has a licence for realisation activity on the conducting of a system of registers of holders of securities).

Manager’s Office
Financial Dept

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