{"id":4527,"date":"2026-07-12T18:43:15","date_gmt":"2026-07-12T13:43:15","guid":{"rendered":"https:\/\/bondstonelaw.com\/?page_id=4527"},"modified":"2026-07-12T21:10:59","modified_gmt":"2026-07-12T16:10:59","slug":"afsa-investment-management-licensing","status":"publish","type":"page","link":"https:\/\/bondstonelaw.com\/ru\/afsa-investment-management-licensing\/","title":{"rendered":"AFSA Investment Management Licensing"},"content":{"rendered":"

AIFC  \u00b7  INVESTMENT MANAGEMENT<\/p>\n

AFSA Licensing \u2014 Investment Management<\/h1>\n

Bond Stone advises investment management companies, fund managers, investment advisers, dealers, and arrangers on AFSA licensing within the AIFC \u2014 from regulated activity selection and entity formation through application preparation and ongoing compliance.<\/p>\n

In 2025, AFSA authorised 29 financial services firms \u2014 with strong interest in investment-related activities including fund management, brokerage, and advisory services. The AIFC’s investment management framework provides access to Kazakhstan’s 50+ double tax treaty network, zero CIT until 2066, and AIFC Court dispute resolution under English common law.<\/p>\n

Governed by: AIFC Financial Services Framework Regulations; AFSA Conduct of Business Rules; AFSA Fund Rules; AFSA Fees Rules (as amended 1 December 2025). Authority: afsa.aifc.kz<\/a><\/p>\n

\n

Regulated Activities<\/h2>\n\n\n\n\n\n\n\n\n\n
Activity<\/th>\nDescription<\/th>\nMin Capital<\/th>\n<\/tr>\n
Managing Investments<\/td>\nDiscretionary management of investment portfolios on behalf of clients. Covers asset managers, hedge funds, family offices, and private equity managers. Liquid assets must equal at least 25% of annual operating expenditure at all times.<\/td>\nUSD 150,000<\/td>\n<\/tr>\n
Managing a Collective Investment Scheme<\/td>\nEstablishing, managing, or winding up a fund. Covers Exempt Funds (professional investors only) and Non-Exempt Funds (full disclosure). Capital: USD 50,000\u2013500,000 depending on fund type.<\/td>\nUSD 50,000\u2013500,000<\/td>\n<\/tr>\n
Advising on Investments<\/td>\nGiving investment advice to clients on buying, selling, holding, or underwriting investments. Covers investment advisers and wealth managers. Additional USD 2,800 digital asset fee if advice extends to digital assets.<\/td>\nUSD 10,000<\/td>\n<\/tr>\n
Arranging Deals in Investments<\/td>\nMaking arrangements for another person to buy, sell, subscribe for, or underwrite investments. Covers placement agents, fund distributors, and introducing brokers.<\/td>\nUSD 10,000<\/td>\n<\/tr>\n
Dealing in Investments as Principal \/ Agent<\/td>\nBuying, selling, or underwriting investments on own account (principal) or on behalf of clients (agent). Covers broker-dealers and market makers. Capital adequacy calculated on a risk-adjusted basis.<\/td>\nRisk-adjusted<\/td>\n<\/tr>\n
Providing Custody \/ Arranging Custody<\/td>\nSafekeeping and administration of investments on behalf of clients. Frequently combined with Managing Investments or digital asset licences. Arranging custody means making arrangements for another firm to provide custody.<\/td>\nUSD 10,000\u2013150,000<\/td>\n<\/tr>\n
Providing Trust Services \/ Fund Administration<\/td>\nTrust services: acting as trustee or managing trust structures. Fund administration: NAV calculation, accounting, transfer agency, and back-office services to funds. Used by family offices and fund service providers.<\/td>\nUSD 10,000<\/td>\n<\/tr>\n<\/table>\n
\n

Why use the AIFC for investment management<\/p>\n

\u2726  0% CIT until 1 January 2066 \u2014 tax-efficient base for fund management and investment advisory<\/p>\n

\u2726  Access to Kazakhstan’s 50+ double tax treaty network \u2014 efficient withholding tax planning for cross-border structures<\/p>\n

\u2726  English common law governance \u2014 familiar framework for European, US, and Middle Eastern fund managers<\/p>\n

\u2726  AIFC Court enforcement \u2014 disputes resolved under English law, judgments enforceable in Kazakhstan<\/p>\n<\/div>\n

\n

Why Bond Stone<\/p>\n

\u2726  AIFC RLA \u2014 Banking & Finance and Regulatory & Compliance specialisations<\/p>\n

\u2726  Full application package \u2014 entity formation, AFSA application, Approved Individual registrations, AML\/CTF framework on one mandate<\/p>\n

\u2726  Ranked Legal 500 EMEA and IFLR1000 \u2014 offices in Almaty and Astana<\/p>\n<\/div>\n

Primary authority: afsa.aifc.kz<\/a><\/p>\n

\n

Discuss your investment management licence<\/h2>\n

Contact Bond Stone for a confidential discussion about AFSA investment management licensing within the AIFC.<\/p>\n

\n\ud83d\udce7 info@bondstonelaw.com<\/a>
\n\ud83d\udcde +7 (701) 729 76 72<\/a>\n<\/p>\n

\nRequest a Confidential Consultation<\/a>
\n\u2190 AFSA Licensing Hub<\/a>
\nBanking & Credit \u2192<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AIFC  \u00b7  INVESTMENT MANAGEMENT AFSA Licensing \u2014 Investment Management Bond Stone advises investment management companies, fund managers, investment advisers, dealers, and arrangers on AFSA licensing within the AIFC \u2014 from regulated activity selection and entity formation through application preparation and ongoing compliance. In 2025, AFSA authorised 29 financial services firms \u2014 with strong interest in […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-4527","page","type-page","status-publish","hentry"],"translation":{"provider":"WPGlobus","version":"3.0.2","language":"ru","enabled_languages":["en","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/comments?post=4527"}],"version-history":[{"count":3,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4527\/revisions"}],"predecessor-version":[{"id":4565,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/4527\/revisions\/4565"}],"wp:attachment":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/media?parent=4527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}