The task of IFCA is to ensure influx of foreign capital

In 2017 in the capital will be launched an international financial center "Astana", which will be based on the infrastructure built for the exhibition center "Astana - EXPO".

Senate adopted the Constitutional Law "On International Financial Centre" Astana "(" On IFCA").

It is assumed that IFCA, as an international financial and business centre, will create a special favorable legal regime in the field of financial services for local and foreign legal entities accredited in IFCA and acting in accordance with the law of IFCA. On the territory of  IFCA and for its members will be applied the rules of law on IFCA and acts of IFCA bodies. There will be created a council to manage IFCA, which will be headed by the Head of the State, a Committee for Regulation of  Financial Services, the administration of IFCA and the court of IFCA. The official language will be English, in which will be adopted and published acts of IFCA, as well as documentation and administration of justice.

A special tax, currency and visa regime will be governed by the Law, as well as a special regime to attract foreign labor by bodies and members of the center. The law provides rules related to tax exemptions for bodies and members of the center, as well as to staff and participants of the center for 50 years.

In addition, the law provides for the consolidation of goals, objectives and principles of activity of IFCA.

Acts of IFCA will be based on the principles and rules of law of England and Wales and standards of the world's leading financial centers, including the successful Dubai International Financial Centre (information provided below).

From the beginning of the year will start preparatory work and registration of participants of the financial center.

International experience of the Dubai International Financial Centre (DIFC)

Dubai International Financial Centre (DIFC) is an independent jurisdiction, based on the principles of English case law, with its own rules of civil and commercial law, different from laws in the UAE. Legislative and legal acts of the DIFC are in English and in case of doubt refer to the English law.

DIFC – is a leading regional financial and business institution, uniting the emerging markets of the Middle East, Africa and South Asia and the developed markets of Europe, Asia and America, where:

• square - 44.5 hectares

• 1039 active companies and financial institutions (2014):

• 22 of the 30 largest banks in the world

• 11 of the top 20 financial top managers of the world

• 6 of the 10 largest insurance companies in the world

• 7 of the 10 largest law firms in the world

• 17 thousand employees perform labor activities in the DIFC

• Representatives of 131 countries are employed in the DIFC

• 232 thousand square meters of office space are occupied by companies in the DIFC

• 23 thousand square meters of new office space

• The level of satisfaction among DIFC companies is 92%

• 1,039 companies operate in the DIFC, of ​​which:

327 companies provide financial services in the DIFC, 565 companies provide non-financial services in the DIFC, 145 retail companies.

Preferences DIFC:

• 0% rate of corporate and personal income tax

• 100% foreign ownership of businesses (without the participation of local shareholders)

• free repatriation of capital and profits - without restrictions

• internationally accepted laws and regulatory processes

• the principle of "single window" in the issuance of visas, work permits and other related queries

• International Stock Exchange with primary and secondary lists of debt and equity instruments

• a large number of qualified professionals

DIFC also has its own courts (DIFC Courts), where preside judges of the leading common law jurisdictions, including England, Singapore and Hong Kong.

DIFC Courts in their activities are guided by a separate law - DIFC Courts Rules, which have been designed in accordance with the Rules of Civil Procedure of UK. Unlike the courts of DIFC, other courts of the Emirate of Dubai in the civil procedure apply the continental legal system and the adapted principles of Islamic law in personal status of the individuals.

Dubai International Financial Centre can significantly increase the investment attractiveness of the country, which contributes to the influx of foreign capital, it brings additional liquidity to the domestic market.

DIFC's mission is to promote the growth and development of financial services in the economy and ensuring the state infrastructure and competitive services to stakeholders.

Since its inception, DIFC strategy has focused on five areas:

• Development of a legal infrastructure that is the foundation for a world-class financial center;

• Attracting a critical mass of world's largest banks and financial institutions;

• Funding for economic growth and sustainable development;

• Increased productivity;

• Creation of training centers and encouraging the transfer and sharing of knowledge.