Issuance of a permit for the creation or acquisition of a subsidiary by an insurance (reinsurance) organization and (or) an insurance holding company, significant participation of an insurance (reinsurance) organization and (or) an insurance holding company in the capital of organizations
Description and requirements for obtaining the document:
Issuance of a permit for the creation or acquisition of a subsidiary by an insurance (reinsurance) organization and (or) an insurance holding company, significant participation of an insurance (reinsurance) organization and (or) an insurance holding company in the capital of organizations
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Issuing a permit for the creation or acquisition of a subsidiary by an insurance (reinsurance) organization and (or) an insurance holding company
Issuing a permit for the creation or acquisition of a subsidiary by an insurance (reinsurance) organization and (or) an insurance holding company
Issuing Authority:
Агентство Республики Казахстан по регулированию и развитию финансового рынка
Additional Approvals:
Not Required
National tax:
0 Monthly Calculation Index (0 tenge)
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Selected document:Issuance of a permit for the creation or acquisition of a subsidiary by an insurance (reinsurance) organization and (or) an insurance holding company, significant participation of an insurance (reinsurance) organization and (or) an insurance holding company in the capital of organizations
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
Statement in the form of an electronic document
Document confirming payment of the fee for issuing a permit, except in cases of payment via the e-government payment gateway»
An electronic copy of the decision to establish a subsidiary if it is created, or the decision to acquire a subsidiary if it is acquired (if there is no information on the Internet resource of the financial reporting Depository)
Electronic copy of the business plan of the subsidiary
Data about a legal entity, through the acquisition of a share in the authorized capital or shares of which an insurance (reinsurance) organization and (or) an insurance holding company acquires a subsidiary
Other documents on the basis of which it is proposed to acquire control or confirming control over a subsidiary with an indication of the reason for the occurrence of control
An electronic copy of the financial statements of the acquired subsidiary, certified by the audit organization, for the last completed financial year (if there are no reports on the Internet resource of the financial reporting Depository)
Information about the applicant's affiliates in the form of an electronic document (if there is no information on the Internet resource of the financial reporting Depository)
Information, based on the analysis of the legislation of the country of location subsidiaries, the absence of circumstances suggesting the impossibility of consolidated supervision of insurance group due to the fact that the legislation of the country of domicile of the members of the insurance group – non-residents of the Republic of Kazakhstan makes it impossible to execute them and the insurance group is stipulated by legislative acts of the Republic of Kazakhstan of requirements
An electronic copy of information about the subsidiary's senior employees (or candidates recommended for appointment or election to senior positions)
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
Submission of documents on notification of the authorized body (personal presence is not required)
List of documents
Electronic application form
Term of Registration:
60
work days
Result:The documents are under consideration by the authorized body.
3
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 of permission.
Service Cost:5 000 000 tenge
Pre-Payment:3 500 000 tenge (70% from the sum)
2 payment:1 500 000 tenge (30% from the sum)
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