Kazakhstan Web3
Regulatory Center

No. You must register a legal entity (usually a limited liability company) with the AIFC as a prerequisite for your application. This can be done at the approval in principle (IPA) stage, but must be completed before obtaining the final license.

The most common delays include: (1) incomplete or poor-quality compliance documentation; (2) inability to find a qualified local MLRO; (3) difficulties opening a bank account; and (4) insufficient preparation for key personnel interviews. It is recommended to begin preparations 6-12 months in advance and hire an experienced local consultant.

Yes, AIFC requires licensed entities to have a physical office address in Astana. You will need to sign an office lease and provide proof. The office size can be determined based on business needs, but it must be a professional commercial space, not a virtual office.

Yes, it's possible. Many exchanges apply for DATF, custody, and proprietary trading licenses simultaneously. This saves time and money because many of the documentation and review processes are common. However, please note that each license type has an additional application fee.

MLROs must be residents of Kazakhstan or foreign nationals holding a work permit, and must be based in Astana. Market salaries range from $50,000 to $100,000 per year, depending on experience and qualifications. Finding a qualified MLRO is one of the biggest challenges many companies face.

AIFC requires compliance with the FATF travel rules, which stipulate that for transfers exceeding a certain amount, information about the sender and receiver must be collected and transmitted. You will need to: (1) implement a technical solution (such as Notabene, Sygna); (2) establish data sharing agreements with other exchanges; and (3) perform additional verification on non-custodial wallets.

Yes, this is one of the biggest practical challenges. Most Kazakhstani banks are cautious about crypto business. Recommendations: (1) Prioritize banks within the AIFC (such as Xalq Bank); (2) Prepare detailed business plans and compliance documentation; (3) Consider using the Kazakhstani branches of international banks; (4) Establish multiple banking relationships to mitigate risk.

All licensed entities must submit audited financial statements (IFRS standard) annually. The audit must be conducted by an AFSA-accredited auditing firm. Audit fees typically range from $30,000 to $80,000, depending on the complexity of the business. It is recommended to choose one of the Big Four accounting firms or their local partners.

第一年總成本通常在$1.5M-$3M之間,包括: 許可申請費($10K-$30K)、最低資本($250K-$1M)、辦公室和設置($100K-$200K)、人員成本($200K-$400K)、合規和法律($150K-$300K)、技術基礎設施($300K-$500K)、以及其他運營費用。

AIFC offers a 50-year tax credit period, including: (1) Corporate Income Tax (CIT) exemption; (2) Land and Property Tax exemption; (3) Employee Personal Income Tax Credit (5% only); and (4) No Capital Gains Tax. However, please note that digital mining fees and certain specific services are still payable.

Starting in 2026, foreign platforms providing digital services to Kazakh residents will be required to pay a 16% VAT. If your exchange provides services to local users, you may need to register as a VAT taxpayer and file monthly returns. It is recommended to consult a tax advisor to determine the specific impact and compliance strategy.

Yes. You can apply to the AFSA to revoke your license and liquidate your company. However, please note that: (1) all client assets must be properly disposed of; (2) all regulatory reports must be completed; and (3) all outstanding fees must be paid. The entire exit process typically takes 3-6 months. Thorough due diligence is recommended before deciding to enter the market.

Type I is for entities that own or lease data center facilities, requiring a $16,000 application fee and more stringent facility requirements (power, cooling, security, etc.). Type II is for individuals or companies that own mining equipment but use other people's facilities, requiring only a $40 application fee, but a hosting agreement must be signed with the Type I holder.

No. All licensed miners must connect to MDAI-certified local mining pools, whose servers must be physically deployed in Kazakhstan. Certified pools are responsible for automatically collecting cryptocurrency mining fees and reporting to the authorities. Using uncertified international mining pools will result in license revocation and fines.

Yes. The mining fee is 1 KZT/kWh when using your own renewable energy source, while it is 10 KZT/kWh when using fossil fuels. This is a significant incentive from the government to encourage green mining. However, please note that you will need to provide proof of your energy source, and this fee does not include the actual electricity cost, only the mining fee.

The amendment abolishes the mandatory requirement for miners to sell 75% of their mining output on the Kazakhstani stock exchange. This provides miners with greater flexibility and freedom to choose how to dispose of their mining profits. This is a significant policy adjustment in response to industry feedback.