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How have the rules of work with foreign investors in Kazakhstan changed?

How have the rules of work with foreign investors in Kazakhstan changed?

KAZAKH INVEST held a webinar on visa regime and migration legislation for foreign investors planning to invest in Kazakhstan. About 50 representatives of large foreign companies participated in the online event, organized jointly with PWC Kazakhstan.

As Almas Khamza, the representative of the Service Support Department at KAZAKH INVEST, noted during his speech, the investors' questions are mainly related to obtaining investor, business, work visas as well as business immigrant visas. Also, questions relate to obtaining a labor permit, a residence permit, quotas as part of an investment contract for priority projects, etc.

“Since the middle of this year, the procedure has been simplified and the conditions for obtaining an A5 category investor visa have been improved. The submission of documents for obtaining an application for an investor visa in electronic form through the egov.kz portal has been introduced. The term for consideration and issuance of an application through the portal is 5 working days. Currently, a multiple-entry investor visa is issued for up to 5 years, and its holders are exempt from the need to obtain a work permit.

The changes also affected the C5 business immigrant visa. Now the visa is issued on the basis of a letter of invitation from the host. The term for consideration and approval of the letter of invitation in the migration service is 5 working days. The term for processing and issuing a visa in a foreign institution is on average 5 working days from the date of application," - said Almas Hamza.

At the same time, the Head of KAZAKH INVEST office in China Kuanysh Amantai presented the investment opportunities of the Republic of Kazakhstan.

“To date, a “soft” infrastructure has been created in Kazakhstan for the implementation of investment projects. There is a system of state support for investments, and a number of preferences can be obtained when implementing a project on the territory of the SEZ. To resolve disputes, a judicial regime has been created, operating on the basis of English law, problematic issues are also submitted to the investment ombudsman, who is the Prime Minister of the Republic of Kazakhstan,” - said Kuanysh Amantai.

An interactive Q&A session was also organized as part of the event. During the session, investors asked questions of interest and received comprehensive answers to them.

It should be noted that since the beginning of the year, KAZAKH INVEST provided investors with more than 130 consultations on visa and migration issues. In addition, 112 requests from foreigners were processed, of which 98% were resolved in favor of investors. Also 7 problematic issues were resolved.

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