LAW
OF THE REPUBLIC OF KAZAKHSTAN
On Currency Regulation and Currency Control

This Law regulates public relations related to the conduct of currency transactions, defines the goals and objectives of currency regulation and currency control.

Chapter 1. GENERAL PROVISIONS

Article 1. Basic Concepts and Terms Used in This Law

1. The following basic concepts are used in this Law:
   1) exchange point - a specially equipped place for carrying out exchange operations with cash foreign currency, created by an authorized organization or authorized bank, having the right to carry out exchange operations with cash foreign currency in the Republic of Kazakhstan on the basis of a license of the National Bank of the Republic of Kazakhstan or an authorized body for the regulation, control and supervision of the financial market and financial organizations or laws of the Republic of Kazakhstan;
   2) currency values:
   foreign currency; securities and payment documents, the nominal value of which is expressed in foreign currency; securities without nominal value issued by non-residents of the Republic of Kazakhstan; affined gold in ingots; national currency, securities and payment documents, the nominal value of which is expressed in the national currency, in cases of transactions with them between residents of the Republic of Kazakhstan and non-residents of the Republic of Kazakhstan and between non-residents of the Republic of Kazakhstan, as well as their export (transfer) from the Republic of Kazakhstan or import (transfer) to the Republic of Kazakhstan; securities without nominal value issued by residents of the Republic of Kazakhstan, in cases of transactions with them between residents of the Republic of Kazakhstan and non-residents of the Republic of Kazakhstan and between non-residents of the Republic of Kazakhstan, as well as their export from the Republic of Kazakhstan or import to the Republic of Kazakhstan;
   3) currency transactions:
   transactions related to the transfer of ownership and other rights to currency values, as well as the use of currency values as a means of payment; import, mailing and transfer to the Republic of Kazakhstan, as well as export, mailing and transfer from the Republic of Kazakhstan of currency values; transfer of currency values to trusteeship; transfer of currency values on the basis of a contract for the provision of brokerage services;
   4) currency contract - agreements, constituent documents, including amendments and/or additions to them, as well as other documents, on the basis of and/or in fulfillment of which currency transactions are carried out;
   5) accounting number - an identification number assigned to a currency contract or an account in a foreign bank, an international financial organization by the National Bank of the Republic of Kazakhstan or an authorized bank and intended to ensure accounting and reporting on currency transactions;

6) import - transfer of goods by a non-resident of the Republic of Kazakhstan to a resident of the Republic of Kazakhstan, transfer of exclusive rights to objects of intellectual property by a partially non-resident of the Republic of Kazakhstan to a resident of the Republic of Kazakhstan, performance of work, provision of services, transfer of property for lease by a non-resident of the Republic of Kazakhstan to a resident of the Republic of Kazakhstan;
7) affined gold in ingots - gold obtained as a result of refining and manufactured in the form of measuring and standard ingots, belonging to investment gold in accordance with the Law of the Republic of Kazakhstan "On Precious Metals and Precious Stones";
7-1) state revenue body - a state body, within its competence, ensuring the receipt of taxes and other mandatory payments to the budget, customs regulation in the Republic of Kazakhstan, powers to prevent, detect, suppress and disclose administrative offenses, which are within the competence of this body according to the legislation of the Republic of Kazakhstan, as well as performing other powers provided for by the legislation of the Republic of Kazakhstan; 7-2) impeccable business reputation - the presence of facts confirming professionalism, integrity, including the absence of facts of commission by a person of unlawful actions (inaction), which led to insolvency, resulting in forced liquidation of a financial organization, or to the classification of a bank as an insolvent bank, the absence of an unexpunged or unpaid criminal record, including the absence of a court decision entering into legal force on the application of criminal punishment in the form of deprivation of the right to hold a position of a managerial worker of a financial organization, banking and/or insurance holding and to be a major participant (major shareholder) of a financial organization for life, as well as the absence of relations with third parties (control and influence of third parties), actions of which contributed to the legalization (money laundering) of income obtained by criminal means, financing of terrorism and financing of the proliferation of weapons of mass destruction, based on information from the authorized body for financial monitoring;
8) authorized banks - banks and organizations created in the Republic of Kazakhstan, carrying out certain types of banking operations (except for authorized organizations), as well as branches of foreign banks operating in the Republic of Kazakhstan, which carry out currency transactions, including on the instructions of clients;
9) authorized organizations - financial organizations of the Republic of Kazakhstan, not being banks, carrying out activities exclusively through exchange points on the basis of a license of the National Bank of the Republic of Kazakhstan for exchange operations with cash foreign currency;
10) national currency:
monetary signs in the form of banknotes and coins of the National Bank of the Republic of Kazakhstan, in circulation and serving as legal tender on the territory of the Republic of Kazakhstan, as well as withdrawn or removed from circulation, but subject to exchange for monetary signs in circulation; money in bank accounts in monetary units of the Republic of Kazakhstan; digital tenge;
11) foreign currency:
monetary signs in the form of banknotes and coins, in circulation and serving as legal tender on the territory of a foreign state (group of states), as well as withdrawn or removed from circulation, but subject to exchange for monetary signs in circulation; money in bank accounts in monetary units of foreign states (group of states) and international monetary or accounting units; national currency of a foreign state, serving as legal tender on the territory of a foreign state (group of foreign states), issued in digital form;

12) foreign banks - banks and other financial institutions created in accordance with the legislation of foreign states and carrying out banking activities outside the Republic of Kazakhstan on the basis of the legislation of the states in which they are registered;
13) export - transfer of goods by a resident of the Republic of Kazakhstan to a non-resident of the Republic of Kazakhstan, transfer of exclusive rights to objects of intellectual property by a partially resident of the Republic of Kazakhstan to a non-resident of the Republic of Kazakhstan, performance of work, provision of services, transfer of property for lease by a resident of the Republic of Kazakhstan to a non-resident of the Republic of Kazakhstan.

2. For the purposes of classifying currency transactions in this Law, the following basic terms are used:
   1) equity participation:
   participation in the authorized capital, property of a legal entity, simple partnership, consortium, including in the form of shares, participation interests, contributions and/or votes of participants; participation in the capital of a legal entity other than the authorized capital;
   2) capital movement transactions - transactions related to the transfer of ownership and other rights to currency values, carried out between residents of the Republic of Kazakhstan and non-residents of the Republic of Kazakhstan, providing for:
   financial loans; equity participation; transactions in securities, participation interests and derivative financial instruments; acquisition of ownership rights to real estate, except for movable things equated or classified as real estate by the laws of the Republic of Kazakhstan; acquisition of fully exclusive rights to objects of intellectual property; transfer of money and other property in fulfillment of the obligations of a participant in joint activity, as well as to trusteeship, trust; transfer of money and financial instruments to professional participants of the securities market carrying out currency transactions on the instructions of clients, to accounts for accounting and storage of money and/or financial instruments belonging to clients; gratuitous transfer of money and other currency values, real estate;
   3) financial loans:
   loans, except for obligations arising from advance payment, deferral and installment payment of export or import; money transferred to secure the fulfillment of the debtor's obligations; financing under the assignment of monetary claims of suppliers and recipients (sellers and buyers) of goods (works, services); financing by third parties for the acquisition of goods (works, services) and other transactions, as well as the fulfillment by third parties of the debtor's obligations to the creditor, as a result of which the person for whom the obligation was fulfilled has the obligation to return money and other property to the person who provided such financing and/or carried out such fulfillment; financial leasing, lease of real estate with subsequent purchase, except for the lease of movable things equated or classified as real estate by the laws of the Republic of Kazakhstan;
   4) foreign financial organizations - foreign banks and other financial institutions created in accordance with the legislation of foreign states and carrying out entrepreneurial activity in the provision of financial services on the basis of the legislation of the states in which they are registered;
   5) foreign non-financial organizations - legal entities and other organizations not forming a legal entity, created in accordance with the legislation of foreign states, with their location outside the Republic of Kazakhstan, except for foreign financial organizations.

For the purposes of this Law, currency transactions related to the import or export of goods and services are:
transactions for the acquisition and redemption by a resident of the Republic of Kazakhstan of electronic money issued by non-residents of the Republic of Kazakhstan; transactions for the acquisition and redemption by a non-resident of the Republic of Kazakhstan of electronic money issued by residents of the Republic of Kazakhstan.

Capital movement transactions are also equated to:
1) transactions carried out between residents of the Republic of Kazakhstan, related to the transfer of ownership and/or other rights to:
securities issued by non-residents of the Republic of Kazakhstan; participation interests in the capital of non-residents of the Republic of Kazakhstan; real estate on the territory of a foreign state, except for movable things equated or classified as real estate by the laws of the Republic of Kazakhstan;
2) transactions carried out between residents of the Republic of Kazakhstan and non-residents of the Republic of Kazakhstan, related to the transfer of ownership and/or other rights to participation interests in the capital of residents of the Republic of Kazakhstan, non-residents of the Republic of Kazakhstan;
3) gratuitous transfer between residents of the Republic of Kazakhstan:
securities issued by non-residents of the Republic of Kazakhstan; participation interests in the capital of non-residents of the Republic of Kazakhstan; real estate on the territory of a foreign state, except for movable things equated or classified as real estate by the laws of the Republic of Kazakhstan.

3. Residents of the Republic of Kazakhstan (hereinafter - residents) for the purposes of this Law and other normative legal acts in the field of currency regulation and currency control are recognized as:
   citizens of the Republic of Kazakhstan; foreign citizens and stateless persons permanently residing in the Republic of Kazakhstan on the basis of a residence permit in the Republic of Kazakhstan; legal entities (except for international organizations), created in accordance with the legislation of the Republic of Kazakhstan, with their location in the Republic of Kazakhstan, as well as their branches (representative offices); international organizations with their location in the Republic of Kazakhstan, if an international treaty on their establishment determines their status as a resident; foreign missions of the Republic of Kazakhstan; branches of foreign financial organizations, which in accordance with the laws of the Republic of Kazakhstan have the right to carry out banking and/or insurance activities on the territory of the Republic of Kazakhstan; branches (representative offices) of foreign non-financial organizations, except for branches (representative offices) of foreign non-financial organizations recognized as non-residents of the Republic of Kazakhstan in accordance with paragraph 4 of this Article.

4. Non-residents of the Republic of Kazakhstan (hereinafter - non-residents) for the purposes of this Law and other normative legal acts in the field of currency regulation and currency control are recognized as:
   individuals who are not residents in accordance with paragraph 3 of this Article; legal entities and organizations not forming a legal entity, created in accordance with the legislation of foreign states, with their location outside the Republic of Kazakhstan; branches (representative offices) of foreign non-financial organizations, for which the status of non-resident under the currency legislation of the Republic of Kazakhstan is established by the conditions of agreements concluded on behalf of the Republic of Kazakhstan with foreign organizations and entered into force before the entry into force of this Law; international organizations, unless otherwise provided by an international treaty on their establishment; diplomatic and other official representations of foreign states. The list of branches (representative offices) of foreign non-financial organizations, for which the status of non-resident under the currency legislation of the Republic of Kazakhstan is established by the conditions of agreements concluded on behalf of the Republic of Kazakhstan with foreign organizations, is established by an act of the Government of the Republic of Kazakhstan.

5. Concepts and terms used and not defined in this Law are applied in the meaning in which they are used in the laws of the Republic of Kazakhstan.

Article 2. Scope of Application of This Law

This Law is in force on the territory of the Republic of Kazakhstan and applies to residents and non-residents carrying out currency transactions on the territory of the Republic of Kazakhstan.
Outside the Republic of Kazakhstan, this Law applies to residents.
For authorized organizations and other legal entities carrying out activities within the framework of a special regulatory regime introduced in accordance with the Law of the Republic of Kazakhstan "On State Regulation, Control and Supervision of the Financial Market and Financial Organizations", the norms of this Law and normative legal acts of the currency regulatory body adopted in accordance with this Law apply within the limits provided for by the conditions of the special regulatory regime.

Article 3. Currency Legislation of the Republic of Kazakhstan

1. The currency legislation of the Republic of Kazakhstan is based on the Constitution of the Republic of Kazakhstan and consists of this Law, other laws of the Republic of Kazakhstan, decrees of the President of the Republic of Kazakhstan, as well as normative legal acts of currency regulatory bodies and currency control bodies issued in accordance with the competence established by the legislation of the Republic of Kazakhstan.

2. The norms of international treaties of the Republic of Kazakhstan are directly applied to the relations specified in Article 2 of this Law, except in cases where it follows from an international treaty of the Republic of Kazakhstan that the adoption (issuance) of a normative legal act of the Republic of Kazakhstan is required for the application of such norms.
   If an international treaty ratified by the Republic of Kazakhstan establishes rules other than those provided for by this Law, the rules of the international treaty shall apply.

Article 4. Goals, Objectives and Principles of Currency Regulation and Currency Control

1. The goals of currency regulation are to support state policy in achieving sustainable economic growth and the development of international cooperation of the Republic of Kazakhstan, to support the stability of the balance of payments, the stability of the internal currency market and the economic security of the Republic of Kazakhstan.
   The objectives of currency regulation are:
   1) determining the procedure for the circulation of currency values in the Republic of Kazakhstan;
   2) supporting the further integration of the Republic of Kazakhstan into the world economy;
   3) ensuring an information base on currency transactions and international financial assets and liabilities of the Republic of Kazakhstan.

2. The goal of currency control is to ensure compliance by residents and non-residents with the currency legislation of the Republic of Kazakhstan when conducting currency transactions.
   The objectives of currency control are:
   1) determining the compliance of conducted currency transactions with the currency legislation of the Republic of Kazakhstan;

2) checking the justification of payments and/or transfers of money for currency transactions and the presence of necessary documents for their implementation;
3) checking the completeness, timeliness and objectivity of accounting and reporting on currency transactions.

3. The implementation of currency regulation and currency control is based on the following principles:
   1) legality;
   2) compliance with the rights and legitimate interests of residents and non-residents when conducting currency transactions;
   3) completeness, accuracy and timeliness of accounting and reporting on currency transactions;
   4) ensuring the protection of the internal currency market and the economy of the Republic of Kazakhstan;
   5) absence of restrictions on the conduct of currency transactions provided that the procedures established by the legislation of the Republic of Kazakhstan are observed.

Chapter 2. CURRENCY REGULATION

Article 5. Currency Regulatory Bodies

1. The main body of currency regulation in the Republic of Kazakhstan is the National Bank of the Republic of Kazakhstan.

2. The Government of the Republic of Kazakhstan and state bodies carry out currency regulation within their competence.

3. The Government of the Republic of Kazakhstan and the National Bank of the Republic of Kazakhstan, in accordance with this Law and acts of the President of the Republic of Kazakhstan, within their competence, issue normative legal acts mandatory for execution by residents and non-residents.
   Drafts of subordinate normative legal acts on currency regulation issues developed by state bodies are subject to coordination with the National Bank of the Republic of Kazakhstan.

4. The National Bank of the Republic of Kazakhstan approves normative legal acts in the field of currency regulation and currency control, including forms of accounting and reporting on currency transactions, as well as the procedure and deadlines for their submission in coordination with or jointly with authorized state bodies in accordance with their competence.
   The list of subordinate normative legal acts adopted by the National Bank of the Republic of Kazakhstan in accordance with the laws of the Republic of Kazakhstan on issues within its competence is determined in the regulation on the National Bank of the Republic of Kazakhstan.

5. The National Bank of the Republic of Kazakhstan and the Ministry of Finance of the Republic of Kazakhstan carry out all types of currency transactions with residents and non-residents without restrictions.

6. Deleted in accordance with the Law of the RK of 30.06.25 No. 205-VIII

7. The National Bank of the Republic of Kazakhstan jointly with the authorized body carrying out leadership in the field of ensuring the receipt of taxes and other mandatory payments to the budget approves the rules for carrying out export-import currency control in the Republic of Kazakhstan.

Article 6. Currency Transactions of Residents and Non-Residents

1. Currency transactions between residents on the territory of the Republic of Kazakhstan are prohibited, except for cases of conducting:
   1) transactions, one of the parties to which are the National Bank of the Republic of Kazakhstan, the Ministry of Finance of the Republic of Kazakhstan, as well as foreign missions of the Republic of Kazakhstan;

2) operations in which one of the parties is a resident who has the right to conduct currency operations with residents granted by the laws of the Republic of Kazakhstan or by acts of the President of the Republic of Kazakhstan adopted before the entry into force of this Law;
3) operations with currency values that are classified as banking operations and other operations that authorized banks and authorized organizations have the right to carry out in accordance with the license issued to them by the National Bank of the Republic of Kazakhstan, the authorized body for regulation, control and supervision of the financial market and financial organizations, or the laws of the Republic of Kazakhstan;
4) payment of services by authorized banks for the conduct of operations carried out with currency values classified as banking operations and other operations that authorized banks have the right to carry out in accordance with the license issued to them by the authorized body for regulation, control and supervision of the financial market and financial organizations or the laws of the Republic of Kazakhstan;
5) operations related to the acquisition, sale, payment of remuneration and (or) redemption of securities, the nominal value of which is expressed in foreign currency;
6) operations between commission agents and principals in the provision of commission agent services related to the conclusion and execution of contracts with non-residents on export or import, including operations for the return of currency values to the principal;
7) operations for the purchase and (or) sale of refined gold in bars for national currency;
8) transfer of bills of exchange expressed in foreign currency as fulfillment of monetary obligations;
9) operations related to settlements for the sale of goods in duty-free shops, as well as for the sale of goods and provision of services to passengers during transit in international transportation;
10) operations between branches (representative offices) of foreign organizations;
11) operations for the payment of expenses of a physical person related to his business trip outside the Republic of Kazakhstan, including representative expenses, as well as operations for the repayment of unspent advances issued in connection with a business trip outside the Republic of Kazakhstan;
12) gratuitous transfers of money or gratuitous transfer of currency values by physical persons to physical persons, as well as to legal entities whose statutory activities are aimed at carrying out charity;
13) depositing of bank deposits by physical persons in favor of other physical persons;
14) operations between professional participants of the securities market carrying out currency operations on behalf of clients, and physical or legal persons, related to the transfer of money and financial instruments from (to) accounts for the accounting and storage of money and financial instruments belonging to clients within the framework of the execution and termination of brokerage service contracts;
15) operations related to the payment of taxes and other mandatory payments to the budget in cases provided for by the Tax Code of the Republic of Kazakhstan;
16) operations of the recipient on behalf of the state of mineral resources, which in accordance with the Tax Code of the Republic of Kazakhstan are transferred to him in fulfillment of the extractive user's tax obligation in kind, related to the transportation, storage and sale of such mineral resources;
17) payments by physical persons for goods, works and services under transactions concluded and executed during their completion on the territory of a special economic zone, the boundaries of which fully or partially coincide with sections of the customs border of the Eurasian Economic Union.
18) mutual monetary settlements between senders of products transported by a main pipeline, within the framework of the product quality bank mechanism in accordance with the Law of the Republic of Kazakhstan "On the Main Pipeline".

2. Currency operations between residents and non-residents are carried out in national and (or) foreign currency.
3. Non-residents have the right to freely receive and transfer money for any currency operations with their branches (representative offices) located in the Republic of Kazakhstan in accordance with the currency legislation of the Republic of Kazakhstan.
4. Non-residents have the right to freely receive and transfer dividends, remuneration and other income received on deposits (deposits), securities, loan and other currency operations with residents, in accordance with the currency legislation of the Republic of Kazakhstan.
5. Currency operations between non-residents on the territory of the Republic of Kazakhstan are carried out without restrictions in accordance with the currency legislation of the Republic of Kazakhstan.
6. The conditions and procedure for conducting currency operations related to the provision of financial and professional services on the territory of the International Financial Center "Astana" are determined by the acts of the International Financial Center "Astana" in agreement with the National Bank of the Republic of Kazakhstan.
7. Currency operations between residents and non-residents, for which this Law does not establish requirements for their implementation, are carried out without restrictions in accordance with the currency legislation of the Republic of Kazakhstan.
8. Import into the Republic of Kazakhstan and export from the Republic of Kazakhstan of currency values are carried out by residents and non-residents without restrictions provided that the requirements of the customs legislation of the Eurasian Economic Union and (or) the Republic of Kazakhstan are observed.

Article 7. Payments and (or) transfers of money for currency operations of residents and non-residents

1. Payments and (or) transfers of money for currency operations of residents and non-residents are carried out through bank accounts in authorized banks in the manner established by the currency legislation of the Republic of Kazakhstan.
   It is permitted to conduct without opening and (or) using bank accounts in authorized banks:
   1) payments and (or) transfers of money of physical persons, as well as payments and (or) transfers of money in their favor in national currency on the territory of the Republic of Kazakhstan;
   2) transfers of money of physical persons in cases provided for in paragraph 4 of this Article;
   3) settlements for the sale of goods in duty-free shops, as well as for the sale of goods and provision of services to passengers during transit in international transportation;
   4) operations of physical persons with cash national and foreign currency, carried out with authorized banks, as well as in exchange points of authorized organizations;
   5) payment of wages to employees by legal entities and branches (representative offices) of foreign organizations;
   6) operations for the payment of expenses of a physical person related to his business trip outside the Republic of Kazakhstan, including representative expenses, as well as operations for the repayment of unspent advances issued in connection with a business trip outside the Republic of Kazakhstan;
   7) payments between physical persons and legal persons-non-residents carrying out their activity under customs control in airports, ports and border crossings open for international traffic;
   8) payments between non-residents and residents for the maintenance of vessels of foreign states in airports and sea ports on the territory of the Republic of Kazakhstan, as well as payment by non-residents for air navigation services, airport activities and sea port services for the maintenance of international flights;

9) payments between residents and non-residents carrying out their activity on the territory of the Republic of Kazakhstan in national currency within the amount established by the legislation of the Republic of Kazakhstan on payments and payment systems;
10) payments by issuing (transferring) a check, bill of exchange;
11) operations for the purchase and (or) sale of cash foreign currency between authorized banks and authorized organizations for the purpose of carrying out exchange operations with cash foreign currency;
12) payments by physical persons for goods, works and services under transactions concluded and executed during their completion on the territory of a special economic zone, the boundaries of which fully or partially coincide with sections of the customs border of the Eurasian Economic Union;
13) payments and (or) transfers of money for currency operations carried out outside the Republic of Kazakhstan by physical persons-residents, foreign branches of the Republic of Kazakhstan;
14) payments and (or) transfers of money for operations with non-residents carried out through accounts in foreign banks, international financial organizations opened by residents in cases and in the manner established by this Law, as well as payments and (or) transfers of money through correspondent accounts of authorized banks in foreign banks, international financial organizations;
15) transfers of money from accounts of non-residents in foreign banks, international financial organizations, carried out by them in fulfillment of the obligations of a resident, in cases provided for by the rules of carrying out currency operations in the Republic of Kazakhstan.

2. Cash foreign currency received by legal entities and branches (representative offices) of foreign organizations during the conduct of currency operations on the territory of the Republic of Kazakhstan (except for the territory of a special economic zone, the boundaries of which fully or partially coincide with sections of the customs border of the Eurasian Economic Union) must be credited to bank accounts in authorized banks.
   The procedure for residents and non-residents to conduct operations through a bank account in an authorized bank related to the withdrawal, crediting and use of cash foreign currency is determined by the rules of carrying out currency operations in the Republic of Kazakhstan.

3. Payments and (or) transfers of money for capital movement operations and operations equated to them, as well as payments and (or) transfers of money for currency contracts, for which, in accordance with this Law, it is necessary to obtain a registration number, are carried out only through bank accounts.

4. Physical persons have the right to carry out the following transfers of money for currency operations without opening and (or) using an account in an authorized bank within the amount established by the National Bank of the Republic of Kazakhstan:
   1) gratuitous transfers of money on the territory of the Republic of Kazakhstan, from the Republic of Kazakhstan and to the Republic of Kazakhstan;
   2) transfers of money on the territory of the Republic of Kazakhstan, from the Republic of Kazakhstan and to the Republic of Kazakhstan in payment of fines, taxes and other mandatory payments to the state;
   3) other transfers of money from the Republic of Kazakhstan and to the Republic of Kazakhstan not related to the carrying out of entrepreneurial activity by a physical person and to operations on currency contracts, for which, in accordance with this Law, it is necessary to obtain a registration number.
   The procedure for physical persons to carry out transfers of money without opening and (or) using a bank account in an authorized bank, including the threshold value for the amount of transfer without opening and (or) using a bank account, is determined by the rules of carrying out currency operations in the Republic of Kazakhstan.

Article 8. Accounts of residents and non-residents

1. Residents open accounts in foreign banks, international financial organizations in cases provided for by this Law, taking into account the provisions of Article 16 of this Law.
2. Residents and non-residents on the territory of the Republic of Kazakhstan open bank accounts in authorized banks in national and (or) foreign currency without restrictions.
3. Non-residents have the right to freely transfer national and (or) foreign currency from their accounts outside the territory of the Republic of Kazakhstan to their bank accounts in authorized banks, as well as from their bank accounts in authorized banks to their accounts outside the territory of the Republic of Kazakhstan.

Article 9. Requirement for repatriation of national and (or) foreign currency for export or import

1. Repatriation of national and (or) foreign currency for export or import consists in crediting to bank accounts in authorized banks:
   1) revenue in national and (or) foreign currency from export;
   2) national and (or) foreign currency transferred by a resident to a non-resident for the purpose of carrying out settlements for import, in cases of non-fulfillment or incomplete fulfillment of obligations by the non-resident.

2. A resident (except for a branch (representative office) of a foreign organization) is obliged to ensure the repatriation of national and (or) foreign currency within the time limits provided for by the currency contract for export or import.
   The time limit within which a resident (except for a branch (representative office) of a foreign organization) fulfills the repatriation requirement (hereinafter - the repatriation period) is determined based on the conditions of fulfillment of obligations by the parties to the currency contract for export or import in the manner determined by the rules of carrying out export-import currency control in the Republic of Kazakhstan. The conditions of the currency contract for export or import, to which the repatriation requirement applies, must provide for the time limits for fulfillment of obligations by non-residents. Authorized banks servicing currency contracts for export or import have the right to require a resident to clarify the repatriation period. National and (or) foreign currency subject to repatriation and credited to accounts in foreign banks, international financial organizations, must be transferred to the accounts of a resident (except for a branch (representative office) of a foreign organization) in authorized banks before the expiration of the repatriation period.

3. The repatriation requirement is considered partially or fully fulfilled in cases:
   1) crediting of national and (or) foreign currency to accounts of a resident in foreign banks, international financial organizations intended to secure the obligations of a resident in accordance with the conditions of a financial loan attracted from a non-resident or to secure the activities of branches (representative offices) of a resident opened abroad;
   2) use of foreign currency received by residents from holding exhibitions, sports, cultural and other similar events outside the Republic of Kazakhstan to cover expenses during their conduct;
   3) crediting to accounts in foreign banks, international financial organizations of currency revenue of resident transport organizations for the purpose of paying expenses related to the payment of port and other fees on the territories of foreign states and maintenance of transport vehicles of such transport organizations and their passengers located outside the Republic of Kazakhstan, as well as expenses to ensure the activities of branches (representative offices) of such transport organizations located outside the territory of the Republic of Kazakhstan;
   4) termination of the obligation of a non-resident by offsetting a counterclaim under currency contracts for export or import;
   5) termination of the obligation of a non-resident by replacing the original obligation existing between a resident and a non-resident with another obligation between the same persons, providing for a different subject or method of performance;
   6) receipt of an insurance payout upon the occurrence of an insured event under insurance contracts for the risk of non-fulfillment of obligations by a non-resident.

4. In the event of a resident assigning to another resident the right of claim against a non-resident, the corresponding obligation to ensure repatriation for export or import within the established period passes to the resident who accepted the right of claim.
   For currency contracts for export or import, to which the repatriation requirement applies, assignment by a resident in favor of a physical person who is not a subject of entrepreneurship of his right of claim against a non-resident, as well as gratuitous assignment by a resident to a non-resident of his right of claim against another non-resident, is not permitted.

5. The State Revenue Body together with the National Bank of the Republic of Kazakhstan and currency control agents carries out monitoring of money movement and other fulfillment of obligations within the framework of individual currency contracts for export or import for the purpose of controlling the fulfillment of the repatriation requirement by residents (except for branches (representative offices) of foreign organizations).
   For the purposes of this monitoring, the authorized bank servicing the currency contract for export or import assigns it a registration number, which is subsequently indicated when submitting reports on the currency contract for export or import to currency control authorities.

6. The procedure for obtaining registration numbers for currency contracts for export or import, monitoring of money movement and other fulfillment of obligations under such contracts, including the forms and deadlines for submitting reports and deadlines for submitting documents confirming the occurrence, execution and termination of obligations and (or) circumstances that affect the time limits and (or) conditions for repatriation of national and (or) foreign currency, as well as conditions and criteria, including the threshold value of the amount of the currency contract for export or import, in the presence of which currency contracts for export or import are subject to control of the fulfillment of the repatriation requirement, and exceptions from the repatriation requirement, the procedure for transferring information and (or) documents on currency contracts for export or import are determined by the rules of carrying out export-import currency control in the Republic of Kazakhstan.

Chapter 3. INTERNAL CURRENCY MARKET
Article 10. Purchase and (or) sale of foreign currency

1. The internal currency market of the Republic of Kazakhstan is defined as a set of relations between residents and non-residents related to the completion of operations for the purchase and (or) sale of foreign currency carried out on the territory of the Republic of Kazakhstan in accordance with this Law.

2. Authorized banks having the right to carry out exchange operations with foreign currency in accordance with the license issued to them by the authorized body for regulation, control and supervision of the financial market and financial organizations or the laws of the Republic of Kazakhstan have the right to sell and (or) buy foreign currency in the Republic of Kazakhstan and abroad.

3. Legal entities and branches (representative offices) of foreign organizations (except for authorized banks) carry out non-cash purchase and (or) sale of foreign currency in the Republic of Kazakhstan through bank accounts in authorized banks in the manner determined by the rules of carrying out currency operations in the Republic of Kazakhstan.
   Authorized organizations have the right to carry out operations with authorized banks for the purchase and (or) sale of cash foreign currency for the purposes of their activity on the basis of contracts concluded with them.

4. The purchase and (or) sale of cash foreign currency for another cash foreign currency or cash national currency by physical persons in the Republic of Kazakhstan is carried out exclusively through exchange points.

5. The National Bank of the Republic of Kazakhstan carries out monitoring of sources of demand and supply in the internal currency market of the Republic of Kazakhstan and the purposes of use of acquired foreign currency.
   Authorized banks submit information to the National Bank of the Republic of Kazakhstan on sources of demand and supply in the internal currency market of the Republic of Kazakhstan and the purposes of use of acquired foreign currency.
   The procedure for authorized banks to submit information on sources of demand and supply in the internal currency market of the Republic of Kazakhstan and the purposes of use of acquired foreign currency, including the forms and deadlines for submitting reports, is determined by the rules of monitoring sources of demand and supply in the internal currency market of the Republic of Kazakhstan.

6. The rules of carrying out currency operations in the Republic of Kazakhstan determine the procedure for the purchase and (or) sale of non-cash foreign currency in the internal currency market of the Republic of Kazakhstan, the requirements for confirming by bank clients (except for physical persons) the purposes of purchasing foreign currency for national currency in the internal currency market of the Republic of Kazakhstan and the procedure for its use for the stated purposes, as well as exceptions from these requirements.
   The threshold value regarding the amount of purchase of non-cash foreign currency in the internal currency market of the Republic of Kazakhstan, upon reaching which the requirements for confirming the purposes of purchasing non-cash foreign currency for national currency in the internal currency market of the Republic of Kazakhstan and the procedure for its use for the stated purposes are applied, is determined by a normative legal act of the National Bank of the Republic of Kazakhstan.

7. Deleted in accordance with the Law of the RK of 30.06.25 No. 205-VIII

Article 11. Organization of exchange operations with cash foreign currency

1. Exchange operations with cash foreign currency in the Republic of Kazakhstan, including the purchase and (or) sale of cash foreign currency for another cash foreign currency or cash national currency, are carried out by authorized organizations or authorized banks having the right to carry out exchange operations with cash foreign currency in accordance with the license issued to them by the National Bank of the Republic of Kazakhstan, the authorized body for regulation, control and supervision of the financial market and financial organizations or the laws of the Republic of Kazakhstan. Other persons do not have the right to provide financial services in the Republic of Kazakhstan for the purchase and (or) sale of cash foreign currency.

2. The procedure for the purchase and (or) sale of cash foreign currency in exchange points, the establishment of purchase and (or) sale rates of cash foreign currency for another cash foreign currency or cash national currency is determined by the rules of carrying out exchange operations with cash foreign currency in the Republic of Kazakhstan.

3. The National Bank of the Republic of Kazakhstan has the right to establish limits for the deviation of purchase rates from sale rates of cash foreign currency for cash national currency for operations conducted through exchange points. Types of foreign currencies and the corresponding limits for rate deviation are established by the National Bank of the Republic of Kazakhstan.

Article 12. Requirements for activities related to the conduct of exchange operations with cash foreign currency

1. An authorized bank having the right to conduct exchange operations with cash foreign currency in accordance with the license issued to it by the authorized body for the regulation, control and supervision of the financial market and financial organizations or the laws of the Republic of Kazakhstan notifies the National Bank of the Republic of Kazakhstan about the commencement or cessation of the activity of exchange points.

Notification of the commencement of the activity of an exchange point is carried out by the authorized bank no later than the date of the commencement of operations by the exchange point. The National Bank of the Republic of Kazakhstan confirms receipt of the notification to the authorized bank within three working days from the date of notification.

2. An authorized organization carries out activities on the basis of a license for exchange operations with cash foreign currency issued by the National Bank of the Republic of Kazakhstan and an appendix to it, which is issued for each exchange point of the authorized organization.

An authorized organization has the right to carry out operations for the purchase and/or sale of refined gold in bars issued by the National Bank of the Republic of Kazakhstan through its exchange points.

Participation of an authorized organization in the charter capital of other legal entities is not permitted.

3. Qualification requirements are imposed on authorized organizations, which include requirements for founders (participants), including disclosure of the sources of origin of their contributions to the charter capital of the authorized organization, requirements for impeccable business reputation of founders (participants), requirements for the organizational and legal form, size and procedure for forming the charter capital, as well as for the premises, equipment of exchange points and personnel.

4. The presence of premises for the placement of an exchange point by the authorized organization is mandatory for obtaining a license from the National Bank of the Republic of Kazakhstan for exchange operations with cash foreign currency and/or an appendix to it.

To obtain a license and/or an appendix to it, in addition to the documents specified by the Law of the Republic of Kazakhstan "On Permits and Notifications", authorized organizations submit to the National Bank of the Republic of Kazakhstan a certificate from an authorized bank confirming the existence of a foreign currency account.

Documents are submitted on the terms and in the manner determined by the rules for the conduct of exchange operations with cash foreign currency in the Republic of Kazakhstan.

5. The issuance of a license (including an appendix to it) for exchange operations with cash foreign currency or refusal to issue a license (including an appendix to it) is carried out within twenty working days from the date of submission by the authorized organization of all documents and information provided for by this Law and the Law of the Republic of Kazakhstan "On Permits and Notifications".

The issuance of an appendix to a valid license, reissuance of a license and/or an appendix to it or refusal to issue such documents is carried out within ten working days from the date of submission by the authorized organization of all documents and information provided for by this Law and the Law of the Republic of Kazakhstan "On Permits and Notifications".

In case of refusal to issue, reissue a license and/or an appendix to it, the applicant is provided with a reasoned response.

6. Grounds for refusal to issue, reissue a license and/or an appendix to it are:

1) failure to submit documents and/or information provided for by this Law and the Law of the Republic of Kazakhstan "On Permits and Notifications";

2) non-compliance of the applicant and/or submitted documents and/or information with the requirements established by this Law and the Law of the Republic of Kazakhstan "On Permits and Notifications".

7. The procedure for licensing authorized organizations, including qualification requirements for them, notification by authorized banks about the commencement or cessation of the activity of exchange points, requirements for activities related to the conduct of exchange operations with cash foreign currency, conditions for the functioning of exchange points and the procedure for conducting operations for the purchase and/or sale of refined gold in bars issued by the National Bank of the Republic of Kazakhstan, as well as the forms and deadlines for the submission of reports by authorized banks and authorized organizations are determined by the rules for the conduct of exchange operations with cash foreign currency in the Republic of Kazakhstan.

Chapter 4. MONITORING OF CURRENCY OPERATIONS. SUBMISSION OF INFORMATION ON CURRENCY OPERATIONS AND ACCOUNTS IN FOREIGN BANKS, INTERNATIONAL FINANCIAL ORGANIZATIONS

Article 13. Monitoring of currency operations

1. Monitoring of currency operations is carried out by the National Bank of the Republic of Kazakhstan by obtaining information on currency operations from residents - participants of currency operations and/or authorized banks carrying out currency operations, as well as accounts in foreign banks, international financial organizations.

For the purposes of monitoring currency operations, the National Bank of the Republic of Kazakhstan:

1) assigns accounting numbers to currency contracts on the basis of and/or in execution of which capital movement operations and operations equated to them are carried out (hereinafter - currency contracts for capital movement), and receives information on currency operations carried out on them and related claims to non-residents and obligations to non-residents;

2) receives notifications and/or information on carried out currency operations, including information on carried out payments and/or transfers of money for currency operations;

3) receives information on accounts in foreign banks, international financial organizations opened by residents (excluding banks and branches (representative offices) of foreign organizations), and assigns accounting numbers to such accounts;

4) receives regular information from branches (representative offices) of foreign non-financial organizations carrying out activities in the Republic of Kazakhstan;

5) submits to the state revenue body information on operations recognized as income of a non-resident from sources in the Republic of Kazakhstan in accordance with subparagraph 39) of paragraph 1 of Article 679 of the Tax Code of the Republic of Kazakhstan.

2. For the organization and implementation of monitoring of currency operations, the National Bank of the Republic of Kazakhstan or authorized banks in cases established by this Law assign accounting numbers to currency contracts on the basis of and/or in execution of which currency operations are carried out, as well as to accounts of residents (excluding banks and branches (representative offices) of foreign organizations) in foreign banks, international financial organizations. The National Bank of the Republic of Kazakhstan assigns accounting numbers to currency contracts for capital movement, accounts of residents (excluding banks and branches (representative offices) of foreign organizations) in foreign banks, international financial organizations, as well as currency contracts for export or import, settlements for which are carried out through such accounts. Authorized banks assign accounting numbers to currency contracts for export or import, settlements for which are carried out through accounts in authorized banks.

If a currency contract provides for the conduct of an operation on capital movement or an operation equated to it and the implementation of export or import and settlements for it are carried out through bank accounts in authorized banks, then the resident (excluding the authorized bank and branch (representative office) of a foreign organization) applies to the authorized bank for the assignment of an accounting number to such a currency contract in the manner provided for by the currency legislation of the Republic of Kazakhstan.

If a currency contract provides for the provision of a financial loan, including financial leasing between the lessor and the lessee, grants for the implementation of investment projects, and the implementation of export or import, and settlements for it are carried out through bank accounts in authorized banks, the resident (excluding the authorized bank and branch (representative office) of a foreign organization) applies to the National Bank of the Republic of Kazakhstan and the authorized bank for the assignment of accounting numbers to such a currency contract in the manner provided for by the currency legislation of the Republic of Kazakhstan.

The actions of the National Bank of the Republic of Kazakhstan on assigning accounting numbers to currency contracts for capital movement, accounts of residents (excluding banks and branches (representative offices) of foreign organizations) in foreign banks, international financial organizations, as well as currency contracts for export or import, settlements for which are carried out through such accounts, are not associated with the adoption of an administrative act.

3. When assigning an accounting number to a currency contract, the National Bank of the Republic of Kazakhstan or the authorized bank has the right to request from the resident - participant of the currency contract, in addition to the submitted copy of the currency contract, the following information and/or documents:

1) information on the participants of the currency contract, including identification data, country of registration, information on the participation of the party to the currency contract in the capital of the other party to the currency contract;

2) information on the transaction, including the details and amount of the currency contract, the currency of the currency contract and settlements for it, the date of completion of the fulfillment of obligations under the currency contract;

3) information on the accounts through which settlements for the transaction will be carried out;

4) changes and/or additions to the currency contract made by its participants, and other documents of the participants of the currency contract related to the transaction being carried out.

4. The assignment by the National Bank of the Republic of Kazakhstan of accounting numbers to currency contracts for capital movement, accounts of residents in foreign banks, international financial organizations, currency contracts for export or import, settlements for which are carried out through accounts in foreign banks, international financial organizations, is carried out without any obligations on the part of the National Bank of the Republic of Kazakhstan. The presence of an accounting number is not a ground for exemption from responsibility for violation of the requirements of the legislation of the Republic of Kazakhstan.

5. A resident (excluding a bank and a branch (representative office) of a foreign organization) submits information for the assignment of an accounting number to a currency contract for capital movement and the assignment of an accounting number to an account in a foreign bank, international financial organization to the National Bank of the Republic of Kazakhstan electronically through the information system of the National Bank of the Republic of Kazakhstan in compliance with authentication procedures using an electronic digital signature.

The submission of reports on currency contracts for capital movement, reports on the movement of money in an account in a foreign bank, international financial organization to the National Bank of the Republic of Kazakhstan is carried out electronically through the information system in compliance with authentication procedures using an electronic digital signature.

Article 14. Monitoring of currency operations under a currency contract for capital movement

1. For the purposes of monitoring currency operations under a currency contract for capital movement, an accounting number is assigned to the currency contract for capital movement. A resident - participant of the currency contract submits to the National Bank of the Republic of Kazakhstan information and reports on the currency contract for capital movement with the assigned accounting number.

Accounting numbers are subject to assignment to currency contracts for capital movement, the participants of which are residents (excluding banks and branches (representative offices) of foreign organizations).

2. A resident (excluding a bank and a branch (representative office) of a foreign organization), being a participant in a currency contract for capital movement, applies to the National Bank of the Republic of Kazakhstan for the assignment of an accounting number to the currency contract for capital movement before the commencement of the fulfillment of obligations under such a currency contract by any of its parties.

If the fulfillment by the resident of obligations under a currency contract for capital movement is preceded by the transfer of property (receipt of money) from a non-resident to the benefit of the resident, then the application for the assignment of an accounting number to the currency contract for capital movement is carried out before the transfer of property (receipt of money) to the disposal of the resident and/or the crediting of the received money to the bank accounts of the resident in authorized banks.

If as a result of changes and/or additions the currency contract for capital movement has become consistent with the criteria and conditions for the assignment of an accounting number, then the assignment of an accounting number to the currency contract for capital movement is carried out before the commencement of the fulfillment by the parties of obligations under the currency contract for capital movement with the introduced changes and/or additions (before the transfer of property (receipt of money) to the disposal of the resident, if after the introduction of changes and/or additions to the currency contract for capital movement the fulfillment of the obligation is started by a non-resident).

For currency contracts for capital movement subject to the assignment of an accounting number, the conduct of currency operations by agents of currency control is carried out only in the presence of an accounting number.

3. The National Bank of the Republic of Kazakhstan for the purposes of monitoring currency operations under currency contracts for capital movement has the right to request for familiarization with the originals of currency contracts for capital movement and changes and/or additions to them, as well as other documents and/or information related to the implementation of the capital movement operation and/or on which references are made in the submitted documents.

Documents drawn up in a foreign language are submitted to the National Bank of the Republic of Kazakhstan with a translation into Kazakh or Russian.

The assignment of an accounting number to a currency contract for capital movement is carried out within five working days from the date of submission by the resident of the required documents and information.

4. Currency operations under currency contracts for capital movement, the participants of which are the National Bank of the Republic of Kazakhstan, the Ministry of Finance of the Republic of Kazakhstan, are carried out without the assignment of accounting numbers.

5. The procedure for residents (excluding banks and branches (representative offices) of foreign organizations) to obtain accounting numbers for currency contracts for capital movement and the deadlines for the submission of documents confirming the occurrence, fulfillment and termination of obligations, the procedure for monitoring the movement of money and other fulfillment of obligations under currency contracts for capital movement, including the forms and deadlines for the submission of reports by banks and residents who are participants in such contracts, conditions and criteria, including the threshold value of the amount of the currency contract for capital movement, in the presence of which such contracts are subject to the assignment of accounting numbers, and exceptions from the procedure for the assignment of accounting numbers are determined by the rules for monitoring currency operations in the Republic of Kazakhstan.

6. The requirements of this article do not apply to currency operations carried out by participants of the International Financial Center "Astana" on its territory.

Article 15. Notification and/or information on carried out currency operations

1. Notification and/or submission of information on carried out currency operations, including on behalf of clients, are carried out by authorized banks in the form of reports sent to the National Bank of the Republic of Kazakhstan.

2. Authorized banks notify and/or submit information on carried out currency operations, the amount of which is equal to or exceeds the threshold value, based on information obtained during the conduct of payments and/or transfers of money.

A client, being a resident or non-resident, for the conduct of a payment and/or transfer of money for a currency operation in an amount equal to or exceeding the threshold value, submits to the authorized bank the following information:

1) the country of registration of the sender and beneficiary of the payment document, if these data do not match those indicated in the payment document;

2) the sign of an intra-corporate transfer of money (for operations carried out by a legal entity with its structural subdivisions or between structural subdivisions of one legal entity);

3) the code of the currency operation for which the payment and/or transfer of money is carried out.

If the client is a resident, the following additional information on the currency contract on the basis of and/or in execution of which the payment and/or transfer of money for the currency operation is carried out is submitted:

1) information on the sender and recipient of money under the currency contract - in case of mismatch with the sender and beneficiary of the payment document;

2) the country of registration of the sender and recipient of money under the currency contract - in case of mismatch with the sender and beneficiary of the payment document;

3) details of the currency contract and the accounting number of the currency contract (if available).

The information on the payment and/or transfer of money for the currency operation specified in this paragraph is submitted to the authorized bank by the client or indicated by the authorized bank independently based on the documents and/or information submitted by the client in the manner and deadlines established by the rules for the conduct of currency operations in the Republic of Kazakhstan. The authorized bank as an agent of currency control ensures the correctness of indicating the code of the currency operation and other information specified in this paragraph.

The threshold value regarding the amount of the payment and/or transfer of money for the currency operation, subject to notification and/or information on which is subject to submission, codes of currency operations and the procedure for submitting the information specified in this paragraph are determined by the rules for the conduct of currency operations in the Republic of Kazakhstan.

3. The procedure for notification and/or submission of information on carried out currency operations by authorized banks, including the forms and deadlines for the submission of reports, is determined by the rules for the conduct of currency operations in the Republic of Kazakhstan.

Requirements for the list of information and the procedure for its submission by authorized banks carrying out currency operations on behalf of participants of the International Financial Center "Astana" are determined by the acts of the International Financial Center "Astana" in agreement with the National Bank of the Republic of Kazakhstan.

4. The National Bank of the Republic of Kazakhstan for the purpose of clarifying the circumstances of the commission of currency operations has the right to request from agents of currency control or the sender-resident, or beneficiary-resident of the payment and/or transfer of money, for which information and/or notification is submitted, a copy of the currency contract on the basis of and/or in execution of which such payment and/or transfer of money were carried out, as well as other information on such a currency contract.

5. The requirements of this article do not apply to currency operations carried out by participants of the International Financial Center "Astana" on its territory.

Article 16. Monitoring of accounts in foreign banks, international financial organizations

1. A legal entity - resident (excluding a bank and a branch (representative office) of a foreign organization) notifies the National Bank of the Republic of Kazakhstan about the opening of an account in a foreign bank, international financial organization for the assignment of an accounting number to it by submitting information on such an account before carrying out operations using such an account. The assignment of an accounting number to an account in a foreign bank, international financial organization is carried out within five working days from the date of submission by the resident of the required documents and information.

A legal entity - resident (excluding a bank and a branch (representative office) of a foreign organization) provides to the National Bank of the Republic of Kazakhstan information on operations using an account opened in a foreign bank, international financial organization, indicating the accounting number.

In case of changes in the details or closure of an account in a foreign bank, international financial organization, to which an accounting number has been assigned, a legal entity - resident (excluding a bank and a branch (representative office) of a foreign organization) notifies the National Bank of the Republic of Kazakhstan about this within the established deadlines.

For accounts of a resident in a foreign bank, international financial organization subject to the assignment of an accounting number, the conduct of payments and/or transfers of money using such an account is carried out only in the presence of an accounting number.

2. Individual residents do not submit information to the National Bank of the Republic of Kazakhstan about accounts in foreign banks, international financial organizations. Information on money transfers by individuals from their own accounts (to their own accounts) in foreign banks, international financial organizations is submitted by the authorized bank that carries out such money transfers in the manner provided for by the currency legislation of the Republic of Kazakhstan.

3. The procedure for legal entities - residents (excluding banks and branches (representative offices) of foreign organizations) to obtain accounting numbers for accounts in foreign banks, international financial organizations, their notification about changes in the details or closure of an account in a foreign bank, international financial organization, including the forms and deadlines for the submission of reports on the movement of money on such accounts, are determined by the rules for monitoring currency operations in the Republic of Kazakhstan.

The procedure for authorized banks to submit reports on carried out currency operations is determined by the rules for the conduct of currency operations in the Republic of Kazakhstan.

4. The requirements of this article do not apply to participants of the International Financial Center "Astana".

Article 17. Submission of information for the purposes of monitoring currency operations

1. Branches (representative offices) of foreign non-financial organizations carrying out activities in the Republic of Kazakhstan for more than one year submit to the National Bank of the Republic of Kazakhstan information on operations with residents and non-residents in the form of reports, including at the request of the National Bank of the Republic of Kazakhstan.

The procedure for the submission of information by branches (representative offices) of foreign non-financial organizations, including the forms and deadlines for the submission of reports, as well as the types of activities, in the course of which the submission of reports by branches (representative offices) of foreign non-financial organizations is required, are determined by the rules for the submission of information by branches (representative offices) of foreign non-financial organizations carrying out activities in the Republic of Kazakhstan.

2. By acts of the International Financial Center "Astana" in agreement with the National Bank of the Republic of Kazakhstan, requirements are established for participants of the International Financial Center "Astana" on the submission of information on carried out currency operations, as well as the procedure for information interaction between the bodies of the International Financial Center "Astana" and the National Bank of the Republic of Kazakhstan.

Chapter 5. CURRENCY CONTROL

Article 18. Authorities, Agents, and Subjects of Currency Control

1. Currency control in the Republic of Kazakhstan is carried out by the Government of the Republic of Kazakhstan, the National Bank of the Republic of Kazakhstan, and other authorities and agents of currency control in accordance with this Law and the legislation of the Republic of Kazakhstan.

2. The authorities of currency control in the Republic of Kazakhstan are the National Bank of the Republic of Kazakhstan and other state bodies in accordance with the competence established by the legislation of the Republic of Kazakhstan.

Agents of currency control are authorized banks, authorized organizations, as well as professional participants of the securities market carrying out currency transactions on behalf of clients.

3. Currency control in the Republic of Kazakhstan is conducted with respect to residents, including financial organizations carrying out currency transactions, as well as non-residents carrying out currency transactions on the territory of the Republic of Kazakhstan (hereinafter referred to as subjects of currency control).

Currency control with respect to financial organizations is carried out by the National Bank of the Republic of Kazakhstan. Currency control with respect to other persons is carried out by the state revenue authority, the National Bank of the Republic of Kazakhstan, and/or other currency control authorities within their competence.

4. The National Bank of the Republic of Kazakhstan interacts with other currency control authorities and coordinates the information interaction of currency control agents with other currency control authorities.

Article 19. Powers of Currency Control Authorities and Agents

1. Within their competence, currency control authorities and agents carry out control over currency transactions conducted by residents and non-residents in the Republic of Kazakhstan, regarding the compliance of these transactions with the currency legislation of the Republic of Kazakhstan.

2. Currency control authorities have the right to determine the procedure for submitting reports on currency transactions, request documents and/or information related to the conduct of currency transactions, make demands to eliminate identified violations, causes, and conditions that contributed to their commission, and take other measures provided for by the legislation of the Republic of Kazakhstan, which are mandatory for execution by all residents and non-residents in the Republic of Kazakhstan.

The National Bank of the Republic of Kazakhstan has the right to request from an authorized bank information, documents, and/or information related to the conduct of a currency transaction, including regarding the implementation of internal control for the purpose of combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction by the authorized bank.

3. Currency control agents are obliged to:

1) monitor compliance with the requirements of the currency legislation of the Republic of Kazakhstan in the conduct of transactions, including on behalf of clients;
2) ensure the completeness and objectivity of accounting and reporting on currency transactions;
3) report to the National Bank of the Republic of Kazakhstan, as well as other currency control authorities and law enforcement agencies of the Republic of Kazakhstan in accordance with their powers established by the laws of the Republic of Kazakhstan, about facts of violations of the currency legislation of the Republic of Kazakhstan committed by their clients that have become known to them;
4) provide currency control authorities with information, documents, and/or information about currency transactions conducted with their participation, in the manner established by the currency legislation of the Republic of Kazakhstan.

4. Currency control authorities and agents are obliged to preserve, in accordance with the legislation of the Republic of Kazakhstan, commercial, banking, and other legally protected secrets that have become known to them in the exercise of their powers, including during the exchange of information in electronic form in accordance with the currency legislation of the Republic of Kazakhstan, except for its submission in accordance with the laws of the Republic of Kazakhstan.

5. A currency control agent carries out currency transactions of a resident and/or non-resident only on the condition that the latter submits documents and/or information required in accordance with the currency legislation of the Republic of Kazakhstan.

6. In order to ensure compliance with the requirements of the currency legislation of the Republic of Kazakhstan, currency control agents, in accordance with this Law, have the right to demand from residents and non-residents, when conducting currency transactions:

1) for individuals - a document confirming identity;
2) for foreigners and stateless persons - a document confirming the right of permanent residence in the Republic of Kazakhstan (if available);
3) for legal entities and organizations that are not legal entities - constituent and other documents, including those identifying participants of this entity;
4) a currency contract or its copy, including with a mark on the assignment of an account number in cases established by this Law;
5) a license in cases established by this Law;
6) documents and/or information confirming the fulfillment or on the basis of which it is necessary to fulfill obligations under currency contracts;
7) information on payments and/or transfers of money for currency transactions in accordance with Article 15 of this Law.

An authorized bank has the right to request originals of currency contracts and other documents required by this paragraph for review, as well as a translation into Kazakh or Russian of documents drawn up in a foreign language.

7. Currency control agents do not have the right to demand the submission of documents not related to the currency transaction being conducted.

8. Currency control agents refuse to conduct a currency transaction in cases of failure by a person to provide information, documents, and/or information required in accordance with the currency legislation of the Republic of Kazakhstan, submission of unreliable documents by them, or failure to carry out actions established by the currency legislation of the Republic of Kazakhstan.

Article 20. Forms of Currency Control

1. Currency control authorities carry out currency control with respect to subjects of currency control in the form of inspections and other forms of control in accordance with the laws of the Republic of Kazakhstan.

2. Inspections based on risk assessment, unscheduled inspections, and document inspections by the currency control authority and other forms of control are conducted with respect to financial organizations.

The National Bank of the Republic of Kazakhstan, within the framework of inspections or other forms of control, has the right to request information, documents, and/or information about the implementation by authorized banks of internal control of currency transactions for the purpose of combating the legalization (laundering) of proceeds obtained criminally, terrorism financing, and financing of the proliferation of weapons of mass destruction.

With respect to other residents carrying out currency transactions, as well as non-residents carrying out currency transactions on the territory of the Republic of Kazakhstan, currency control procedures are conducted when they make payments and/or transfers of money for currency transactions, inspections by the currency control authority, and other forms of control.

3. Other forms of control are carried out by currency control authorities by:

1) inspection of the premises and equipment of an exchange office of an authorized organization for compliance with qualification requirements;
2) sending a mandatory instruction to the currency control agent for the proper conduct of currency control;
3) analysis of information, reporting, and documents related to the conduct of a currency transaction, requested by the currency control authority in connection with the receipt of information about a possible violation of the requirements of the currency legislation of the Republic of Kazakhstan, and other information (reporting) submitted in accordance with the requirements of the currency legislation of the Republic of Kazakhstan.

Other forms of control specified in sub-paragraphs 1) and 2) of the first part of this paragraph are carried out exclusively by the National Bank of the Republic of Kazakhstan.

4. Procedures for carrying out other forms of control include:

1) visiting and inspecting the premises and equipment intended for the exchange office of an authorized organization for compliance with the qualification requirements imposed on them within the framework of licensing control before issuing a license of the National Bank of the Republic of Kazakhstan for exchange operations with cash foreign currency and/or an appendix to it. Visits and inspections are carried out on the basis of an application received from a legal entity for obtaining a license of the National Bank of the Republic of Kazakhstan for exchange operations with cash foreign currency and/or an appendix to it. The results of the inspection are taken into account when making a decision on issuing or refusing to issue a license of the National Bank of the Republic of Kazakhstan to a legal entity for exchange operations with cash foreign currency and/or an appendix to it;
2) sending a written instruction to the currency control agent, in which the essence of the instruction and the deadlines for its execution are specified. The currency control agent executes the instruction of the currency control authority in the form and deadlines specified in such instruction;
3) carrying out by the currency control authority an analysis of information, reporting, and documents submitted in accordance with the currency legislation of the Republic of Kazakhstan or at the request of the currency control authority, regarding compliance with the requirements of the currency legislation of the Republic of Kazakhstan, including regarding the timeliness, completeness, and reliability of the received information, reporting, and documents.

Article 20-1. Features of Conducting Currency Control over Repatriation of National and/or Foreign Currency for Export or Import by the State Revenue Authority

1. Currency control over the fulfillment by residents specified in paragraph 2 of Article 9 of this Law (hereinafter - the audited resident) of the requirement to repatriate national and/or foreign currency for export or import is carried out by the state revenue authority.

2. In conducting currency control over the fulfillment by the audited resident of the requirement to repatriate national and/or foreign currency for export or import, the state revenue authority conducts an inspection and/or carries out other forms of control provided for by sub-paragraph 3) of paragraph 3 of Article 20 of this Law.

3. Conducting an inspection does not require the preparation of an act on its appointment.

The inspection is carried out without visiting the audited resident by sending a written request to it for the provision of information and/or documents related to the conduct of a currency transaction, including regarding the fulfillment of obligations under a currency contract for export or import.

The written request specifies:

1) the name, surname, first name, patronymic (if any) of the audited resident, business identification number or individual identification number, and its location;
2) the grounds for the inspection;
3) the list of requested documents (their copies);
4) information (data) requiring explanations, if necessary;
5) the deadline for providing the requested information and/or documents.

4. The beginning of the inspection is the sending of a written request addressed to the audited resident, signed by an authorized official of the state revenue authority.

A written request sent by one of the following methods is considered to be delivered to the audited resident in the following cases:

1) by mail as a registered letter with notification - from the date of the audited resident's mark in the notification of the postal operator;
2) by electronic means:

• from the date of delivery of the written request in the web application. This method applies to an audited resident registered as a user of the digital system of the state revenue authority;
• from the date of delivery of the notification to the user's personal account on the "digital government" web portal. This method applies to an audited resident registered on the "digital government" web portal.

5. The requested information and/or documents (their copies) are provided by the audited resident within the deadlines established in the written request of the state revenue authority, but no later than fifteen working days from the date following the date of receipt of the written request by the audited resident.

6. To clarify the information and/or documents (their copies) available in the authorized bank servicing the audited resident, the state revenue authority sends a written request to such bank using another form of currency control provided for by sub-paragraph 3) of paragraph 3 of Article 20 of this Law.

7. The completion of the inspection by the state revenue authority is the date of signing by an authorized official of the conclusion on the results, which does not require signing by the audited resident.

Article 21. Requirements for Conducting Payments and/or Transfers of Money for Certain Currency Transactions

1. Payments and/or transfers of money of clients of an authorized bank for certain currency transactions, the conduct of which may be aimed at withdrawing money from the Republic of Kazakhstan, evading compliance with the requirements of the currency legislation of the Republic of Kazakhstan, as well as currency transactions that do not have an obvious economic sense, are carried out by authorized banks in the manner provided for by the rules for carrying out currency transactions in the Republic of Kazakhstan, and upon submission by the client of the authorized bank, who is the sender or recipient of the money, of permission to the authorized bank to transmit information about such payment and/or transfer of money to currency control authorities and law enforcement agencies.

2. The types and criteria for certain currency transactions, the conduct of which may be aimed at withdrawing money from the Republic of Kazakhstan, evading compliance with the requirements of the currency legislation of the Republic of Kazakhstan, as well as currency transactions that do not have an obvious economic sense, are established by the rules for carrying out currency transactions in the Republic of Kazakhstan.

Article 22. Limited Impact Measures, Supervisory Response Measures, and Sanctions

1. Currency control authorities, upon identifying violations of the currency legislation of the Republic of Kazakhstan by subjects of currency control, have the right to apply limited impact measures, supervisory response measures, and sanctions provided for by the laws of the Republic of Kazakhstan.

2. Upon identifying violations of the currency legislation of the Republic of Kazakhstan by the National Bank of the Republic of Kazakhstan, the following are applied:

1) administrative penalties in accordance with the Code of the Republic of Kazakhstan on Administrative Offenses, as well as demands to eliminate identified violations and/or causes and conditions that contributed to their commission, with respect to authorized banks and professional participants of the securities market carrying out currency transactions on behalf of clients;
2) administrative penalties in accordance with the Code of the Republic of Kazakhstan on Administrative Offenses, supervisory response measures, and sanctions in accordance with the norms of the Law of the Republic of Kazakhstan "On Banks and Banking Activity in the Republic of Kazakhstan" and other laws of the Republic of Kazakhstan with respect to authorized organizations;
3) limited impact measures in the form of a written notification to eliminate identified violations, as well as administrative penalties in accordance with the Code of the Republic of Kazakhstan on Administrative Offenses with respect to other residents not specified in sub-paragraphs 1) and 2) of this paragraph, as well as non-residents carrying out currency transactions on the territory of the Republic of Kazakhstan.

3. The written notification of the National Bank of the Republic of Kazakhstan to eliminate identified violations is mandatory for execution by the subjects specified in sub-paragraph 3) of paragraph 2 of this article, within the deadline established in such notification.

Failure to execute the written notification of the National Bank of the Republic of Kazakhstan to eliminate identified violations is grounds for conducting an inspection, including jointly with other currency control authorities within their competence.

Article 23. Rights and Obligations of Residents and Non-Residents

1. Residents and non-residents carrying out currency transactions on the territory of the Republic of Kazakhstan have the right to:

1) familiarize themselves with the results of inspections conducted by currency control authorities;
2) appeal the actions of currency control authorities and agents in the manner established by the legislation of the Republic of Kazakhstan;
3) exercise other rights provided for by the legislation of the Republic of Kazakhstan.

2. Residents and non-residents carrying out currency transactions on the territory of the Republic of Kazakhstan are obliged to:

1) submit to currency regulation and currency control authorities and currency control agents reporting, information, and documents on the currency transactions they conduct in order to fulfill the requirements established by this Law and the currency legislation of the Republic of Kazakhstan;
2) provide currency control authorities and agents with information and requested documents regarding the conduct of currency transactions within the deadlines established in the written request of the currency control authority or normative legal acts of the National Bank of the Republic of Kazakhstan;
3) provide currency control authorities with explanations during the conduct of inspections and other forms of control by them, as well as regarding their results;
4) maintain accounting and compile reporting on currency transactions conducted, ensuring the storage of reporting for the period established by the legislation of the Republic of Kazakhstan;
5) fulfill the requirements (instructions, directives, notifications) of currency control authorities to eliminate identified violations;
6) provide currency control authorities with access to their premises, documents, and automated databases during the conduct of inspections by them.

Chapter 6. MEASURES TO PROTECT THE BALANCE OF PAYMENTS

Article 24. Measures to Protect the Balance of Payments

1. In the event of serious threats to the stability of the balance of payments, the stability of the domestic currency market, and the economic security of the Republic of Kazakhstan, if the situation cannot be resolved by other measures of economic policy, by an act of the Government of the Republic of Kazakhstan based on a joint submission of the National Bank of the Republic of Kazakhstan and the relevant authorized bodies, measures may be introduced providing for a special procedure for conducting certain currency transactions.

The measures specified in the first part of this article must comply with international treaties concluded by the Republic of Kazakhstan within the framework of participation in international associations (organizations) and ratified by the Republic of Kazakhstan.

2. The measures specified in paragraph 1 of this article are temporary in nature and are canceled as the circumstances causing their introduction are eliminated.

3. In the event that the measures specified in paragraph 1 of this article provide for the introduction of a licensing or notification procedure, the provisions of the Law of the Republic of Kazakhstan "On Permits and Notifications" do not apply to such permits and notifications.

Chapter 7. FINAL PROVISIONS

Article 25. Liability for Violation of the Currency Legislation of the Republic of Kazakhstan

Violation of the currency legislation of the Republic of Kazakhstan entails liability established by the laws of the Republic of Kazakhstan.

Article 26. Procedure for Bringing This Law into Force

1. This Law is brought into force on July 1, 2019, except for the seventh paragraph of paragraph 3 of Article 1, which is brought into force on December 16, 2020.

2. Recognize as having lost force the Law of the Republic of Kazakhstan of June 13, 2005 "On Currency Regulation and Currency Control" (Herald of the Parliament of the Republic of Kazakhstan, 2005, No. 11, art. 38; 2007, No. 3, art. 20; 2008, No. 23, art. 114; 2009, No. 13-14, art. 63; 2010, No. 15, art. 71; 2012, No. 1, art. 6; No. 13, art. 91; No. 21-22, art. 124; 2014, No. 10, art. 52; No. 21, art. 122; No. 23, art. 143; 2015, No. 22-I, art. 140; No. 22-VI, art. 159; 2016, No. 12, art. 87; 2017, No. 14, art. 51; No. 23-III, art. 111).

President of the Republic of Kazakhstan
N. NAZARBAYEV
Astana, Akorda, July 2, 2018
No. 167-VI ZRK