Capital flows

Kazakhstan's individuals or legal entities have to apply for registration in National Bank of Kazakhstan after concluding contracts of capital flows above 500 thousand US dollars (or equivalent) or contracts without contract sum. Legal entities must also register opening accounts in foreign banks.

1. Concluding contract

1. What kind of transactions are related to currency operations of capital flows?

Contracts about:  financial loans, investments, operations with securities, derivatives, joint activity, acquisition of real estate, acquisition of ownership on intellectual property, operations with brokers, dealers, trust management, or gratuitous transfer of currency assets.

2. Appeal to the branch of the National Bank

2. What is a registration?

A procedure of an assignment of an account number to a currency contract, and submission of reports follows. 

3. Where should a resident-participant of a currency operation apply for registration?

In order to register a contract, it's necessary to contact the territorial branch of the National Bank of Kazakhstan, located at the place of permanent residence (for individuals), location (for legal entities), or register and submit an application via the NBK portal https://nbportal.nationalbank.kz/.

4. When should one apply?

It is necessary to apply for registration before conducting operations under the contract.

3. Registration of a contract

5. What documents are required to submit?

Аpplication, identity card / passport (for individuals), copy of a contract.

6. Time frame for currency contract registration. 

Registration of a contract is fulfilled within five working days.

7. Are all operations of capital flows subject to the registration?

No, there is a threshold on a contract sum, below which transactions are not subject to the registration, besides there are some exceptions that are allowed by currency legislation.

8. What measures can be applied in case of missing deadlines for applying for registration and subsequent reporting?

In case of untimely applying for registration, a warning will be issued in the first violation, a fine will be imposed in case of repeated violation.
Similar types of punishment are applied for late or failure submission of the reports on contracts with an account number.

4. Conducting operations under a contract

9. Is it possible to conduct operations under a contract before registration?

Currency control of the servicing bank will not conduct a payment before the registration.

5. Reporting

10. What reports must be submitted after the registration?

Reporting forms by reference https://nationalbank.kz/en/news/formy-statisticheskoy-i-administrativnoy-otchetnosti/7369

6. Contract deregistration

11. When is the contract withdrawn of registration?

Withdrawn of registration of the contract is based on resident's written notice and according to the reasons outlined by the legal act of National Bank of Kazakhstan. 

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