Doing Business in Kazakhstan
The JSC’s executive body manages the daily affairs of the JSC and can be constituted either by a board or by a single individual.The executive body implements the decisions of the general meeting of shareholders and the board of directors. In order to monitor the financial and business activity of the executive body, the JSC may form an audit commission or elect an internal audit service which is accountable to the board of directors.
3.4.6
Registration
A JSC must be registered with the Ministry of Justice.The fee for state registration of a JSC is KZT 8,275, payable at the date of submission of the required documents (approximately US$ 70 as of the date of this publication). In order to register a JSC, the following documents must be submitted to the registration authorities of the Ministry of Justice: •
an application;
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the charter of the JSC;
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the minutes of the founders’ meeting establishing the JSC;
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if the founder is a legal entity, a statement issued by the Kazakhstani tax authorities confirming that the founder does not have outstanding tax liabilities (for local founders) or is not registered in Kazakhstan as a taxpayer (for foreign founders);
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if one of the founders is a foreign legal entity, an extract from the trade register, or any other document, certifying that the founder is a validly existing legal entity under the legislation of its home country (for local founders, notarized copies of its registration documents will need to be submitted);
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if one of the founders is an individual, a notarized copy of his/her passport;
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the tax registration number of the head of the JSC (director, president etc.);
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documents confirming the address of the JSC; and
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a document confirming payment of the state registration fee.
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