🇰🇿Collect & Pay: AIFC Kazakhstan account for cross-border settlements

partner, Corporate & Commercial

Concept

Collect & Pay — Kazakhstani payment institution with authorization fromAstana Financial Services Authority (AFSA)under theProviding Money Services (PMS)regime within Astana International Financial Centre (AIFC). AFSA's PMS regime was introduced in stages: definitions, capital and digital asset operations — from 13 October 2025; client protection and cyber resilience — from 13 January 2026. Main currencies — KZT, RUB, USD, EUR, CNH.

Private.lawas Collect & Pay partner

Private.law— Collect & Pay partner. We submit applications through the partner channel. Often combined with opening an AIFC company — this gives the client both regulatory wrapper and payment layer in one jurisdiction (instead of assembling HK Ltd + UK EMI or similar structures). Through the partner channel we handle KYC matters directly with the onboarding manager.

What Collect & Pay does

• Multi-currency accountin KZT, RUB, USD, EUR, CNH. Local details in Kazakhstan.
• Cross-border B2B payments.Russia, Belarus, CIS, China, EU, US — through correspondent network.
• Corporate cards.Debit cards against client balance for operational expenses.
• Digital assets (from Oct 2025).Limited digital asset operations within AFSA PMS scope (not universal solution, specific use cases).

Application

Russian UBO with assets moved to Kazakhstan

Classic use case. Russian businessman transferred operations to Kazakhstan (partially or fully), registered AIFC company. Collect & Pay provides payment layer with ability to settle with Russian counterparties (legal, non-sanctioned) in RUB, while external settlements run through USD/EUR/CNH lines. AIFC tax benefits (0% corporate tax on financial services until 2065) make the structure economically attractive.

Business between CIS and China / EU

Trading business or service company with ties to Russia/Belarus/Uzbekistan and clients/suppliers in China or EU. Kazakhstan — rare "neutral" channel for such settlements, not blocked by correspondents and not raising sanctions flags at Western banks.

Multi-jurisdictional structure with Central Asian core

Company chooses AIFC as holding or operating jurisdiction due to tax benefits and English common law. Collect & Pay serves as payment layer in the same jurisdiction, without need to route payments through second country (HK, SG, UK).

Mandatory requirements

• Jurisdiction.AIFC company — preferred option. Regular Kazakhstani TOO/LLC and neighboring CIS also accepted.
• Clear business model.Counterparties, payment flows, connection to Russia (if any) — state directly in KYC.
• Clean source of funds.AFSA checks connections to sanctioned sectors of Russian economy (military-industrial complex, energy, dual-use) — connections to these sectors lead to rejection.
• UBO documents.

Opening throughprivate.law

1. AIFC company registration(if needed). 2–3 weeks.
2. Package preparation.Corporate documents, passports, business model description with explicit source of funds indication.1–3 business days.
3. Submission through partner channel.
4. AFSA / Collect & Pay KYC review. 2–4 weeks.
5. Account activation.

Total timeline for existing AIFC company — 3–6 weeks.From scratch — 6–8 weeks.

Russian and Belarusian clients: accepted

Not suitable for

• Holding large balances.AFSA PMS — not a banking license, no KDIF deposit insurance.
• Banking products— trade finance, L/C, bank guarantees. For this in Kazakhstan — Halyk Bank, Kaspi, Forte. Or international banks.
• Bank reference letter at FCA/HKMA/MAS level.Not issued.
• Crypto outside AFSA-permitted operations.Arbitrary crypto flows outside PMS perimeter — rejection.
• Company without connection to CIS or Central Asia.No point in AIFC regime.

Related materials

• Neobanks
• Freedom Bank Kazakhstan— licensed bank (not PMS) in regular Kazakhstan jurisdiction
• Airwallex
• 3S Money— alternative RUB acceptance channel through UK
• CFC

Contact information

If you have questions or need consultation, our experts will be happy to help.

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