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THE RESOLUTION OF BOARD OF THE AGENCY OF THE REPUBLIC OF KAZAKHSTAN ON REGULATION AND DEVELOPMENT OF THE FINANCIAL MARKET

of February 24, 2020 No. 8

About establishment of the List of offshore zones for the purposes of banking and insurance activity, activities of professional participants of the security market and other licensed types of activity in the security market, activities of joint-stock investment funds and the organization activity performing microfinancial activities

(as amended on 21-02-2022)

According to part one of Item 5 of Article 17, the paragraph the sixth parts one of Item 9 of Article 17-1 and Item 5 of article 34 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan", part one of item 4 of Article 21 and the subitem 5) Item 1 of article 26-1 of the Law of the Republic of Kazakhstan "About insurance activity", part one of Item 2 of Article 47 and the subitem 5) Item 1 of article 72-2 of the Law of the Republic of Kazakhstan "About the security market", Item 1 of article 8 of the Law of the Republic of Kazakhstan "About investment and venture funds", the subitem 2) Item 6 of article 14 of the Law of the Republic of Kazakhstan "About microfinancial activities" Board of the Agency of the Republic of Kazakhstan on regulation and development of the DECIDES: financial market

1. Establish the following list of offshore zones for the purposes of banking and insurance activity, activities of professional participants of the security market and other licensed types of activity in the security market, activities of joint-stock investment funds and the organization activity performing microfinancial activities:

1) the United States of America (only regarding the territories of the American Virgin Islands, the State of Wyoming, the island of Guam, State of Delaware and Commonwealth of Puerto Rico);

2) Principality of Andorra;

3) State of Antigua and Barbuda;

4) Commonwealth of the Bahamas;

5) State of Barbados;

6) State of Belize;

7) State of Brunei Darussalam;

8) United Republic of Tanzania;

9) Republic of Vanuatu;

10) Republic of Guatemala;

11) State of Grenada;

12) Republic of Djibouti;

13) Commonwealth of Dominica;

14) Dominican Republic;

15) New Zealand (only regarding the territory of the Cook Islands and Niue);

16) Spain (only regarding the territory of the Canary Islands);

17) Federal Islamic Republic Comoro Islands;

18) Co-operative Republic of Guyana;

19) Republic of Costa Rica;

20) People's Republic of China (only regarding the territories of the special administrative area Aomin (Macau);

21) Republic of Liberia;

22) Lebanese Republic;

23) Principality of Liechtenstein;

24) Islamic Republic of Mauritania;

25) Malaysia (only regarding the enclave territory Labuan);

26) Republic of Maldives;

27) Republic of Malta;

28) Mariana Islands;

29) Republic of the Marshall Islands;

30) the Kingdom of Morocco (only regarding the territory of the city of Tangier);

31) Union Myanmar;

32) Republic of Nauru;

33) Federal Republic of Nigeria;

34) the Netherlands (only regarding the territory of the island of Aruba and the dependent territories of the Antilles);

35) Republic of Palau;

36) Republic of Panama;

37) Portugal (only regarding the territory of the islands of Madeira);

38) Independent State of Samoa;

39) Republic of Seychelles;

40) State of Saint Vincent and Grenadines;

41) Federation Saint Kitts and Nevis;

42) State of Saint Lucia;

43) Republic of Suriname;

44) Kingdom of Tonga;

45) Republic of Trinidad and Tobago;

46) the United Kingdom of Great Britain and Northern Ireland (only regarding the following territories):

Islands of Anguilla;

Bermuda;

British Virgin Islands;

Gibraltar;

Cayman Islands;

Montserrat's island;

Channel Islands (island Sark, Alderney);

Island South Georgia;

South Sandwich Islands;

Turks and Caicos Islands;

Island Chagos;

47) Sovereign Democratic Republic of Fiji;

48) Republic of the Philippines;

49) the French Republic (only regarding the following territories):

Islands of Kerguelen;

French Guiana;

French Polynesia;

50) Republic of Montenegro;

51) Democratic Republic of Sri Lanka;

52) Jamaica.

2. For the purposes of this resolution offshore zones are understood as the states and the territories determined in Item 1 of this resolution, which are providing preferential tax regime and (or) not providing disclosure and provision of information when carrying out financial transactions.

3. Recognize invalid:

1) the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of October 2, 2008 No. 145 "About approval of the List of offshore zones for the purposes of banking and insurance activity, activities of professional participants of the security market and other licensed types of activity in the security market, activities of the accumulation pension funds and joint-stock investment funds" (it is registered in the Register of state registration of regulatory legal acts at No. 5371);

2) the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of March 27, 2009 No. 65 "About entering of amendment into the resolution of Board of the Agency of the Republic of Kazakhstan on regulation and supervision of the financial market and the financial organizations of October 2, 2008 No. 145 "About approval of the List of offshore zones for the purposes of banking and insurance activity, activities of professional participants of the security market and other licensed types of activity in the security market, activities of the accumulation pension funds and joint-stock investment funds" (it is registered in the Register of state registration of regulatory legal acts at No. 5658, it is published on May 29, 2009 in the Yuridicheskaya Gazeta newspaper No. 80 (1677).

4. To provide to department of methodology and regulation of the financial organizations in the procedure established by the legislation of the Republic of Kazakhstan:

1) together with Legal department state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) placement of this resolution on official Internet resource of the Agency of the Republic of Kazakhstan on regulation and development of the financial market after its official publication;

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