Kazakhstan plans to return offshore capital to the country

The President of Kazakhstan, Kassym-Zhomart Tokayev, as part of the fight against the economic crisis, wants to return to the country those companies that prefer foreign jurisdiction.

Kazakhstan plans to return offshore capital to the country

On the day the state of emergency ended, the head of Kazakhstan immediately set about restoring the economy. One of the measures proposed by him is to return to the country those Kazakhstani companies that are registered in other countries. Tokaev instructed to bring them to the site of the Astana International Financial Center (AIFC).

“We need to begin work on the phased transfer of certain structures belonging to national companies from foreign jurisdictions to the AIFC,” the president said. – We will not be able to achieve the trust of foreign investors if our own companies choose foreign jurisdictions. The government, the Foreign Ministry and foreign missions should strengthen the promotion of the AIFC investment tax residency program. ”

Today, May 11, the state of emergency in Kazakhstan has ceased to operate. The country is gradually starting to return to normal, although public events and shopping and entertainment centers will obviously not be allowed soon. While the country is happy at least the opening of parks and the launch of public transport.