Amicorp Takes Lead in Opening Office in 'New Silk Road' Powerhouse Kazakhstan

Amicorp Group has opened an office in Kazakhstan's leading financial hub, the Astana International Financial Centre ("AIFC"), the first global provider of corporate management, financial markets, and fund administration services to do so.

The office in Astana means Amicorp can now offer on-the-ground support to entrepreneurs and businesses looking to set up and operate in this strategically important country, sitting at the crossroads between East and West, the Caucasus and EAEU, the Middle East, and Europe. It also means Amicorp can now more easily support Kazakh companies looking to expand internationally, helping them set up their cross-border operations and create effective legal structures.

"This marks an important milestone for Amicorp, enabling us to better support clients looking to take advantage of the investment opportunities in this growing Central Asian powerhouse," said Sergio Gironella, Head of Sales for Commonwealth Independent States, Amicorp Group. "The country sits at the center of the New Silk Road initiative, with over 80% of goods that are currently exported from China and Central Asia to Europe going through Kazakhstan."

"It has resulted in significant development of its infrastructure, regulatory environment, and its economic ambitions as a jurisdiction of choice, offering great investment opportunities."

Kazakhstan has seen the largest economic growth and foreign direct investments ("FDI") in Central Asia and is rich in natural resources – notably oil and natural gas, coal, and minerals. Its growing prominence as a regional and global trade center has given rise to diversification into other sectors like agriculture, technology, and, notably, finance.

It boasts a burgeoning financial hub, the Astana International Financial Centre, which offers a number of incentives – from special tax regimes and independent financial regulations to preferential visa and labor conditions – designed to attract further FDI and build its securities market to help it integrate with international capital markets.

The Amicorp team will be providing several administrative services from its new Astana office to start, including corporate management and administration services, such as entity setup, corporate secretarial services, tax and accounting services, opening bank accounts, and other administrative duties. The team is aiming to add other services in the coming months.

The new Astana office also opens the door for Kazakh businesses to tap into Amicorp's network of international offices and their respective local market know-how.

"We aim to provide support for businesses across the country, whether they are based in Astana, Almaty, Shimkent, or Aktobe Aktau, and to play our part in helping to establish the AIFC as a leading financial hub," said Mr Gironella. "We are present in all BRICS countries, and we see strong outbound growth in the Middle East, for example, where we have offices in Dubai, Abu Dhabi, and Saudi Arabia. Our team is now well placed to help businesses with inbound and outbound opportunities."  

Renat Bekturov, AIFC Governor, noted: "We warmly welcome Amicorp Group to the Astana International Financial Centre. Its establishment here marks a significant milestone in the development journey of both Amicorp and the entire AIFC, underlining Kazakhstan's growing importance as a financial hub in Central Asia.

"This decision highlights the readiness of our market and ecosystem to support global financial financial companies and institutions, paving the way for enhanced investment opportunities, knowledge exchange, job creation, and economic growth. Currently, Kazakhstan's asset management industry is experiencing rapid growth. The opening of Amicorp's international office in the AIFC signifies the introduction of new types of financial services to the market, particularly in asset management. The introduction of new financial services and instruments will contribute to the development of Kazakhstan's financial market."