Official opening ceremony of AIFC
The official opening ceremony of the Astana International Financial Center (AIFC) has taken place in the capital of Kazakhstan today. During his speech at the ceremony, President of Kazakhstan Nursultan Nazarbayev highlighted that the center’s creation is a new page in the history of modern independent Kazakhstan and an important step in development of economy. Nursultan Nazarbayev also mentioned that the AIFC’s model embodies all the best practices of the region’s largest financial centers. The president assured that unprecedented conditions have been created for investors and other participants of the Astana financial center, including the special court of the AIFC and the arbitration center for dispute resolution. An expat center is ready to offer its services to foreign businessmen for comfortable work and residence in Kazakhstan. The opening ceremony of the international financial center is being held in conjunction with the celebration of the 20th anniversary of the Kazakh capital. Approximately 5,000 guests from 50 countries attended the opening ceremony, including leaders of states.
NURSULTAN NAZARBAYEV, PRESIDENT OF KAZAKHSTAN:
- The Kazakh model of the AIFC embodies the best practice of activities of these structures. The AIFC participants will have access to the capital not only of Kazakhstan, but also of the entire region. In order to attract international participants, all conditions have been created that have no analogues in the post-Soviet space. The center’s legal status is fixed in the constitutional law and the official language is English. The AIFC participants are granted tax privileges for up to 50 years, including simplified currency, visa and labor conditions. This is the only center in the region based on the English law. An independent court and an international arbitration center guarantee the fairness and protection of rights of parties.
The AIFC has a goal of becoming a financial hub in the entire Central Asia and the Eurasian Economic Union.