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Thinking of opening a business here, registering for the tax stuff, but the payment processor basically said, "Hey, the best we can do is give you access to processing card payments in Kazakhstan for six months. If you show a lot of growth, we'll give you access to Russia and Tajikistan. A year later, maybe we'll give you access to American credit cards." I was like, "Well, it's not going to work. I don't have any customers in Kazakhstan; they're all in America." In my opinion, that's a big issue when it comes to doing a classic signing business and going through this tax process because your business needs to be the one that invoices customers in order to benefit from zero percent. I have talked to some people in charge of this and given them my feedback about payment processors and how important it is for entrepreneurs to have access to international payment processors.
I do believe Kazakhstan is trying to change for the better, so that's something that really impresses me about the country. I've been to a lot of countries where they just don't give a [__] about anything. If you watch my videos about Colombia, for example, those guys absolutely do not care about anything. I find Kazakhstan tends to be more like, well, it is not perfect by any means, but they are trying to get better, especially when it comes to making money on the international market. Props to that, and I think that's something that, you know, I will give them credit for. They really focus on improving. They still have a long way to go, but they are trying, and sometimes if you try, you will get there.
If you're interested in how to get this zero percent tax corporate, everything, all you really have to do is open an LPP in Kazakhstan. LPP is basically Kazakhstan's version of an LLC. Once you open that LPP, which is fairly easy to do, you should go to a website called Asana Hub. This is like an entrepreneurship startup thing that the Kazakhstani government has. I'm not entirely sure if it's by the Kazakhstani government or if it's a private organization, but either way, you have to apply through their website to be part of the program. Once you do get accepted, you qualify for that zero percent tax, and the other thing you qualify for is the ability to hire any foreigner without meeting special quotas or getting special permits. So hiring a foreigner, like a non-Kazakhstani, non-CIS, like non-Russian, not Tajikistan, is actually fairly easy if you join the program, which means you can also give yourself a visa to live in Kazakhstan for three years.
The one disadvantage to Asana Hub, in my opinion, though, is they're fairly slow from what I've gathered. The process will take about two to three months to complete. There's not a lot of information in English, and even some of the information in Russian is a little bit broken, meaning it's not properly translated, and at times they just don't even have the information. You have to talk to the right person who knows stuff, so it's a bit disorganized. I do think they are trying to get better, so again, props to getting better; that's always good. But at the moment, if you do come to Kazakhstan to do this process, you have to understand you're still in a developing nation. This is not the UK, this is not America, this is not Canada. Things take time, and they will definitely take two to three months to complete. But other than that, if you're willing to push through that bit of a headache for three months, maybe it's a side project. At the end of it, you'll get a corporate structure that's taxed at zero, provided your customers are willing to pay you through IBAN or Swift. And if you'd like, you can give yourself a work visa, and eventually, that does lead to permanent residency. Although there's another video about permanent residency, and Kazakhstani does offer citizenship eventually. So if you stay long enough in the country, you actually do qualify for citizenship. And, um, yeah, that's it for this video, guys, and I will see you in the next video. Bye.
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https://www.youtube.com/watch?v=xS2rECFWz9o
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2 weeks ago
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English