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ATTENTION TO PAWNSHOPS
- Today, the activities of pawnshops are regulated by the Civil Code of the Republic of Kazakhstan, the Law of the Republic of Kazakhstan dated July 4, 2003 “On State Regulation, Control and Supervision of the Financial Market and Financial Organizations”, the Law “On Microfinance Activities” dated November 26, 2012, and the Resolution of the Board of the National Bank of the Republic Kazakhstan dated November 28, 2019 No. 226 “On approval of the Rules for organizing the activities of pawnshops, including the issues of storing things in a pawnshop, establishing requirements for ensuring the safety and technical strength of pawnshops, measures to counteract the circulation of illegal items in pawnshops”, Resolution of the Agency of the Republic of Kazakhstan on regulation and development of the financial market dated March 24, 2020 No. 21 “On approval of the Rules for passing the registration of organizations engaged in microfinance activities, including a list of documents submitted for registration, as well as maintaining and exceptions from the register of organizations engaged in microfinance activities.”
- Since January 2020, pawnshops are classified as microfinance entities.
- Organizations engaged in microfinance activities are understood to mean microfinance organizations, credit partnerships, pawnshops engaged in the provision of microcredits.
- According to the Law of the Republic of Kazakhstan “On Microfinance Activities”, a microfinance organization is a legal entity that is a commercial organization, the official status of which is determined by state registration with the judiciary and registration, carrying out activities for the provision of microloans, as well as additional activities permitted by the Law.
- The registration of pawnshops is carried out by the Agency of the Republic of Kazakhstan on regulation and development of the financial market and consists in including the pawnshop in the register of microfinance organizations in accordance with article 14 of the Law on Microfinance Activities. The term for consideration of documents provided by the pawnshop for registration is 10 working days.
- In accordance with the provisions of the Resolution of the Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market dated March 24, 2020 No. 21, pawnshops that have passed state registration in Nur-Sultan, Almaty, Shymkent and regional centers are required to register in time until May 1, 2020; pawnshops that have passed state registration in other settlements – until June 1, 2020.
- The term for consideration of documents provided by the pawnshop for registration is 10 working days.
- A pawnshop that has passed the registration procedure is included in the register of microfinance organizations, information about which is posted on the Internet resource of the National Bank of the Republic of Kazakhstan.
- It should be noted that accounting registration should not be ignored, since activities carried out by a pawnshop without registering will be illegal and may result in a court appeal by the authorized body and the National Bank of the Republic of Kazakhstan with a request for forced reorganization or liquidation of a legal entity registered as a pawnshop.
- It should be noted that among the documents sent by the pawnshop for accounting registration it is necessary to submit documents confirming the payment of the authorized capital, as well as information on compliance with the minimum amount of equity.
- By the way, Resolution of the Board of the Agency of the Republic of Kazakhstan on regulation and development of the financial market dated March 24, 2020 No. 20 amended the authorized and equity capital of the pawnshop.
- The minimum authorized capital for pawnshops operating in the cities of Nur-Sultan, Almaty, Shymkent or the regional center is 100,000,000 (one hundred million) tenge, for others – 50,000,000 (fifty million) tenge.
The minimum authorized capital of pawnshops registered with the justice authorities before January 1, 2020 and operating in the cities of Nur-Sultan, Almaty, Shymkent or the regional center
from January 1, 2020 – 30,000,000 (thirty million) tenge;
from July 1, 2020 – 50,000,000 (fifty million) tenge;
from July 1, 2021 – 70,000,000 (seventy million) tenge;
from July 1, 2022 – 100,000,000 (one hundred million) tenge.
The minimum size of the authorized capital of pawnshops registered with the justice authorities before January 1, 2020 and operating outside the cities of Nur-Sultan, Almaty, Shymkent or the regional center
from January 1, 2020 – 10,000,000 (ten million) tenge;
from July 1, 2020 – 20,000,000 (twenty million) tenge;
from July 1, 2021 – 30,000,000 (thirty million) tenge;
from July 1, 2022 – 50,000,000 (fifty five million) tenge.
- The minimum amount of equity is for a pawnshop operating in the cities of Nur-Sultan, Almaty, Shymkent or the regional center – 100,000,000 (one hundred million) tenge, for others – 50,000,000 (fifty million) tenge.
Minimum equity of pawnshops registered with the justice authorities before January 1, 2020 and operating in the cities of Nur-Sultan, Almaty, Shymkent or the regional center
from January 1, 2020 – 30,000,000 (thirty million) tenge;
from July 1, 2020 – 50,000,000 (fifty million) tenge;
from July 1, 2021 – 70,000,000 (seventy million) tenge;
from July 1, 2022 – 100,000,000 (one hundred million) tenge.
Minimum equity of pawnshops registered with the justice authorities before January 1, 2020 and operating outside the cities of Nur-Sultan, Almaty, Shymkent or the regional center
from January 1, 2020 – 10,000,000 (ten million) tenge;
from July 1, 2020 – 20,000,000 (twenty million) tenge;
from July 1, 2021 – 30,000,000 (thirty million) tenge;
from July 1, 2022 – 50,000,000 (fifty five million) tenge.
- In other words, pawnshops registered with the justice authorities before 01.01.2020 are given the right to gradually bring the authorized and equity capital in line with the minimum values indicated in the tables.
If you have any questions related to microfinance activities, please contact Global lex LLP. They will definitely help you!
Almaty city. st. Makataeva 127B
+7 (727) 279 63 97
info@globallex.kz