Hello There, Chris here from EMPIRE Global
Partners, discussing the Kazakhstan Payment Services Provider License also called a Kazakh
PSP License. Payment Services Providers are primarily involved
in the business of transmitting payments from customers to businesses such as service providers
electronically. They are also sometimes associated with payment gateways. Generally, Payment
Services Providers are used for credit card bill payments, fund transfers, payment of
utility bills and pay for goods such as flight tickets and for payment to online merchants.
A Kazakhstan PSP License would enable you to provide all these services.
The flexible nature of the license means that businesses can provide a wide range of additional
services including cryptocurrency transactions, foreign exchange, and securities dealing,
financial consulting, depository agent activities, and merchant services, through a single license.
A license for a Kazakhstan PSP is issued by the Kazakhstan National Bank and the Ministry
of Economy of Kazakhstan. The documentation requirements for a Kazakhstan PSP License
are minimal. There are no requirements for office, staff, business references or a compliance
officer. There is also no minimum paid-up capital requirement. There is a possibility
of 100% foreign ownership and the Tax rate can be reduced to close to 0% through permitted
structuring The fee for an application for a license varies
on a case to case basis but is considered being among the most cost-effective in the
world. A license is generally granted within 6-8 weeks of submission of a fully completed
application. If you are interested in learning more about a Kazakhstan Payment Services Provider
license and how it can help your business, please get in touch with us and one of our
dedicated team of experienced professionals will assist you through the entire process
of obtaining a Kazakhstan PSP license.