Kazakhstan has been consistently streamlining the rules for foreign businesses to encourage them to actively engage in diversifying one of the largest economies in Central Asia.
Since 2001 till nowadays, the legislation governing the process of hiring the foreign qualified managers by Kazakhstan businesses founded by foreign capital underwent significant changes thanks to initiatives improving the investment climate.
Kazakhstan jumped eight positions to reach No. 28 in the World Bank Group’s Doing Business 2020 report that ranks the world’s top economies for their ease of doing business. Kazakhstan’s ranking places it ahead of No. 30 Spain, No. 46 China and No. 77 India.
Among the recent developments, it worth to mention, the opportunity for CEOs and their deputies – foreign citizens, to manage a newly registered Kazakh company with 100% of the foreign authorized capital, without obtaining a work permit to hire a foreign workforce.
It’s truly important and should be noted that those easements provide foreign top managers and their deputies the exclusive opportunity to manage the company from its first days of creation, without wasting time and resources for obtaining work permits and performing other formalities.