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Doing Business: Licenses

5 April 2016

Licences

The Licensing Act establishes licensing requirements for certain type of business activities. The list of activities that requires licensing is full and exclusive.

There are three types of licenses: general, one-time and operational. The general license is granted for certain group activities for an unlimited period of time. The one-time license is granted for specified business operations within defined limits. The operational license is granted for certain banking and insurance operations.

Licenses can be granted to individuals and legal entities and to foreign citizens, persons without citizenship, foreign legal entities and international organizations. Licenses may be granted to any entity that meets the prescribed requirements or qualifications.

Some of the licenses are valid within certain territory, while others are valid throughout Kazakhstan. Licenses cannot be transferred to another entity, except for legal successions.
The license is grated within 30 business days after the application submission, on condition that the applicant meets all requirements for that license. Small-size business companies may obtain licenses within 10 business days of the date of application.

Operation without a proper license or with an out of date license may lead to serious negative consequences:

  • criminal liability or administrative liability with fines and revenue confiscation;
  • transactions executed without a proper and valid license may regarded as void or illegal;
  • company may be forced into liquidation.

 

 

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