Offshore or Not? Tokayev Confirms Special Tax Regime for Alatau
Photo: Akorda
Kazakhstan’s new city of Alatau will operate under a special tax regime, while project participants will gain access to the Astana International Financial Center’s ecosystem. Authorities previously denied that the city would become an offshore zone, Orda.kz reports, citing Akorda.
President Kassym-Jomart Tokayev outlined Alatau’s financial model during a meeting with Chinese business leaders in Shanghai. The authorities aim to turn the city into one of the region’s leading financial centers and establish separate rules for digital assets, tokenization, blockchain technology and the cryptocurrency industry.
A competitive legal framework and a special tax regime will undoubtedly underpin this work. Alatau project participants will have access to the AIFC ecosystem,Tokayev said.
The AIFC operates under English common law principles. According to Tokayev, it currently serves around 6,000 companies from more than 90 countries.
Earlier, Orda.kz reported that Alatau’s tax, financial and regulatory rules were expected to be prepared within a year.
At the same time, the authorities previously denied plans to create a conventional offshore zone in Alatau. Nevertheless, the city will receive a special tax regime, separate financial rules and access to the AIFC’s jurisdiction.
Original author: Alexander Zhdanov
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