Issuance of a license for reinsurance activities or the right to carry out Islamic reinsurance activities
Issuing Authority:
Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market
Additional Approvals:
Not Required
National tax:
200 Monthly Calculation Index (738 400 tenge)
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Selected document:Issuance of a license for reinsurance activities or the right to carry out Islamic reinsurance activities
Are you a resident of the Republic of Kazakhstan?
Processing time:
1
Preliminary verification of documents (the personal meeting with the UPPERLICENSE team is obligatory)
List of documents
The business plan on implementation of reinsurance activity or Islamic reinsurance activity for the next 2 (two) years
The internal rules approved by governing body
The decision of general shareholder meeting on appointment of council for the principles of Islamic financing (for the Islamic reinsurance organization)
Term of Registration:
2
work days
Result:No - UPPERLICENSE recommendations for Step No 2.Preliminary verification of documents is undergone
Yes - the client is served by the UpperLicense company and-> transition to the Step 2.
2
Payment of the state fee
List of documents
It is not applicable
Term of Registration:
1
work day
Result:A document confirming the payment of the license fee to the budget.
3
Submission of documents on obtaining the license (personal presence is not required)
List of documents
The business plan on implementation of reinsurance activity for the next two years signed by the actuary having the license for carrying out actuarial activity in the insurance market
Request in electronic form, the uslugopoluchatel certified by the EDS (it is formed electronically) (A form of data)
The internal rules of an uslugopoluchatel opening the procedure of adoption of insurance risks on reinsurance
The electronic copy of the document confirming payment of licensing fee for the right of occupation with separate types of activity at renewal of the license (in the form of the electronic copy of the document), except for payment cases through a payment gateway of "the electronic government" (A form of data)
Solution of general shareholder meeting on assignment of council for the principles of Islamic financing (for the Islamic insurance (reinsurance) company)
Term of Registration:
30
work days
Result:The documents are under consideration by the authorized body.
4
Receipt of the original set of documents (personal presence is not required)*
List of documents
* Power of attorney / Electronically digital signature (when applicable)
Term of Registration:
1
work day
Result:Original License.
Service Cost:7 240 000 tenge
Pre-Payment:5 068 000 tenge (70% from the sum)
2 payment:2 172 000 tenge (30% from the sum)
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