English common law jurisdiction

The AIFC operates on the Acting Law of the Astana International Financial Centre — incorporating English common law as its foundation. AIFC Contract Regulations, Companies Regulations, Employment Regulations, and AFSA rulebooks are drafted in English and interpreted under English law principles. Constitutional Statute No. 1 dated 7 December 2015 established the AIFC as an independent jurisdiction within Kazakhstan operational since 2018.

AIFC Court & IAC

The AIFC Court is staffed by judges of international standing with English common law backgrounds — former members of UK Supreme Court, Court of Appeal, and High Court. It operates in English, applies AIFC law, and issues judgments directly enforceable across Kazakhstan. By end 2025 the AIFC Court and IAC had completed over 4,600 cases including 227 court judgments, 1,039 arbitration cases, and 3,427 mediation cases.

Tax incentives — until 2066

AIFC participants benefit from exemptions from Kazakhstani corporate income tax (CIT), individual income tax (IIT), VAT on financial services, land tax, and property tax — until 1 January 2066. These exemptions apply to AIFC-registered entities carrying out AIFC-authorised activities. Bond Stone advises on structuring to maximise the scope of applicable tax exemptions.

Digital assets — first stablecoin licence, USD 10.58B transaction volume

In 2025 AFSA issued its first licence for the issuance of fiat-backed stablecoins — the first such licence in Central Asia. 9 DASPs operated under the full regulatory framework and 19 within the FinTech Lab. DASPs generated USD 10.58 billion in transaction volume with a client base of approximately 215,000 users. AFSA officially joined IOSCO’s I-SCAN fraud alert network in 2025.

AFSA regulatory amendments — effective 1 January 2026

AFSA introduced amendments to capital markets, digital assets, and crowdfunding frameworks effective 1 January 2026. AFSA’s 2026 regulatory agenda includes an Appointed Representative Framework, Derivatives Framework amendments, Asset Management Framework review, and updates to Fitness and Propriety Guidance. Bond Stone tracks all AFSA regulatory developments and advises participants on compliance implications.

AFSA Digital Asset Exchange Licence

AFSA Licensing · AIFC · Digital Assets

Advising a digital asset exchange on AFSA licensing — regulatory business plan, AML/CFT framework, custody arrangements, consumer protection policies, and transition from FinTech Lab sandbox to full authorisation.

AIFC Court — Commercial Dispute

AIFC Court · Dispute Resolution · Financial Services

Representing an AFSA-regulated entity in AIFC Court proceedings — pleadings, evidence preparation, and enforcement of AIFC Court judgment across Kazakhstan under AIFC Registered Legal Adviser status.

AIFC Holding Structure — Cross-border M&A

AIFC Entity Formation · M&A Structuring · Kazakhstan

Structuring a cross-border Kazakhstan acquisition using an AIFC private company as the acquisition vehicle — English law shareholders’ agreement, AIFC Court dispute resolution clause, tax exemption analysis, and AIFC Registrar filing.

AFSA Payment Services Licence

AFSA Licensing · AIFC · Fintech

Full-cycle advisory on AFSA payment services licence application — regulatory business plan, AML/CFT framework, systems documentation, qualified personnel requirements, and ongoing AFSA supervisory liaison post-authorisation.

Investment Tax Residency — ITRP

AIFC · Tax Residency · Individual

Advising a senior international executive on Kazakhstan tax residency through the AIFC Investment Tax Residency Programme — AIFC company formation, qualifying investment structuring, C5 investor visa, and family residence permits.

AFSA Investment Management Licence

AFSA Licensing · AIFC · Asset Management

Advising an international asset manager on AFSA investment management licence application — fund structuring, regulatory business plan, compliance framework, and AIX listing advisory for fund units.