Oct 5, 2021

Legal Aspects Matter: Questions&Answers With Nazgul Baitemirova

VentureRocket Eurasia is the first platform in Central Asia that enables startup co-investing in a fully regulated environment.

 

Since both investors and startups are interested in the regulation aspect, we’ve asked Nazgul Baitemirova, our Compliance Officer, to answer some of your most commonly asked questions:

 

🔹How do you ensure the platform’s legitimacy?

“We conduct our business in accordance with the relevant AIFC Rules and Regulations – the first jurisdiction in Central Asia that provides an independent regulatory framework and transparent legal system based on common English law”.

 

🔹What are the advantages of the AIFC jurisdiction?

“Being a member of AIFC covers many advantages. The AIFC regulation is quite flexible since it’s based on common English law and complies with international standards. The set of rules is very clear and familiar to foreign investors.

In addition, the AIFC Court and the International Arbitration Center, which are a part of the AIFC infrastructure, are flexible and transparent in resolving disputes and corporate issues.

 

It’s also worth mentioning that AIFC provides a favorable tax regime and benefits for entities conducting regulated activities. To illustrate, not only Fund Management Companies are exempt from different types of taxes, but also AIFC domiciled Investment Funds are qualified for Corporate Income and Value Added tax exemptions (January 1, 2021)”.   

 

🔹Who can invest in startups on the VentureRocket Eurasia platform?

“Currently, only professional investors can invest via the VentureRocket Eurasia platform. To do this, one must first complete the accreditation process and the KYC/AML procedures set up on our platform.

 

🔹How do investors get verified on VentureRocket Eurasia?

“To review startups registered on the platform, investors must go through the verification process that starts with the registration on the platform and is different for legal entities and individuals. Common fields to fill in for both types of investors include contact details, identification information, anticipated size of investments, and area of investment interest.

 

To invest in a fundraising campaign chosen, investors must go through accreditation that starts with whitelisting on the platform. This covers additional KYC and AML procedures, including the submission of Risk Acknowledgement and Self-Declaration forms”.

 

 

🔹What startups can register on the VentureRocket Eurasia platform and how is the accreditation process going?

“Any tech innovative project can become a member of the VentureRocket Eurasia platform. However, to be qualified for fundraising, a startup must successfully go through the due diligence process conducted by our expert team. The team reviews the startup’s business model, financial statements and projections, team management, technical and legal documentation, etc. Then, our Investment Committee takes it from there. In fact, it’s the Investment Committee that makes the final decision regarding the startups’ permission for fundraising on our platform”.

 

 

🔹How does a startup launch a fundraising campaign on VentureRocket Eurasia and what documents are required for this?

“The fundraising campaign creation is one of the most powerful tools on our platform. This functionality is available to every registered startup that is approved for fundraising. The capital raising is possible after submission and filling in the necessary data, such as the AML form, statutory documents, Client Agreement, as well as other needed legal documentation. After that, fundraising becomes available to every investor registered on our platform”.

 

Join VentureRocket Eurasia as a startup here.

To register as an investor, please, go here.

Still Have Questions?

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