THE REASONS WHY ASTANA HUB IS ATTRACTIVE FOR BUSINESS
A number of specific economic zones in Kazakhstan has various tax benefits, and the main goal is to make the favourable environment for investment attracting. With the vast development in the technology sector, the government is looking into making the conditions for foreigners to do business in Kazakhstan with benefits.
One of such opportunities for investment attracting is membership of Astana Hub, that is an international technology park for IT start-ups. It is worth mentioning that Astana Hub members have a number of significant advantages that facilitate the creation and development of their project.
Unicase has prepared some key information related to Astana Hub membership.
Astana Hub's global mission is to become a centre for the development of innovative projects, to produce breakthrough IT companies, and to become a hotbed for attracting a critical mass of young and talented IT professionals from around the world.
Possibility to receive tax benefits: CIT - 0%; PPI - 0%; VAT - 0%; Social tax for non-residents - 0%.
List of priority activities
Membership at Astana Hub is limited due to the list of activities stipulated by the Order of the Minister of Digital Development, Defense and Aerospace Industry of the Republic of Kazakhstan dated April 11, 2019 No. 37/NQ.
Registration requirements for legal entities are:
- not related to organizations that implement (have implemented) an investment priority project in accordance with Article 284 of the Entrepreneurial Code of the Republic of Kazakhstan dated October 29, 2015, as well as an investment strategic project under investment contracts concluded before January 1, 2015;
- fifty or more percent of shares (stakes in the authorized capital) of which do not directly or indirectly belong to the state, national managing holdings, national holdings and national companies or their subsidiaries;
- not being a subsoil user and a member of a special economic zone;
- not a payer of excisable goods in accordance with Article 461 of the Tax Code;
- earning income from the implementation of activities corresponding to one or several types of activities specified in the List of priority activities approved by the Order of the acting Minister of Digital Development, Defense and Aerospace Industry of the Republic of Kazakhstan dated April 11, 2019 No. 37/NQ;
- which at the time of registering does not have branches.
The opportunity to obtain a simplified visa and labor regime for foreign participants in Astana Hub and companies where non-residents work.
As of today, there are more than five hundred legal entities being a member of Astana Hub. Such a great number shows that the IT sphere in Kazakhstan is developing and it is essential to support young and talented IT- specialists in Kazakhstan.
Please feel free to contact us in order to get more details of doing business at Astana Hub.