Das Land Kasachstan
Founded in 1991
Welcome to Kazakhstan - a country on the threshold between the modern and the modern age and an unbroken spirit of innovation. A juncture between Eastern Europe, the Middle East and the Middle East. A country that can inspire, astonish and give new impetus to your business. Қазақстанға қош келдіңіз.
Facts and Figures.
POLITICS
According to the 1995 Kazakh constitution, the country is a presidential republic. The term of office of the head of state is five years and is limited to two terms - this regulation does not apply to Nursultan Nazarbayev, the president since the founding of the state in 1991.
The parliament consists of a two-chamber system - of senate and lower house. The lower house (Maschilis) has 107 members. 98 of them are elected in the Proporz, nine appointed by the President as representatives of ethnic minorities.
For the entry into the Maschilis one party needs a voter's share of minimum 7%.
Kazakhstan is a country full of contradictions in political life. On the one hand, there is a clear separation of powers, on the other hand, authoritarian structures are recognizable, which often provide for civil repression, but provide stability and impetus to the economy - due to clear rules, restrictions, permits and a relatively cumbersome administrative apparatus.
This is especially important for the financial sector, as not every few months or years (such as in the EU or Asia) changes in the basic rules and regulations are to be expected and long-term planning and action is easily possible.
Regulators or ministries also communicate far-reaching changes in the regulatory regime usually 2-3 years in advance, which provides enough time to prepare for it as a broker, crypto exchange or payment provider. Valuable time, which European licensees often do not have due to changes in regulations and requirements that can occur at any time.
