Law of the Republic of Kazakhstan No. 167-VI of July 2, 2018, On Currency Regulation and Currency Control

Source: Information System "PARAGRAPH"
LAW
OF THE REPUBLIC OF KAZAKHSTAN
On Currency Regulation and Currency Control
(as amended and supplemented as of 19.03.2026) See amendments:
Law of the Republic of Kazakhstan dated 09.01.26 No. 256-VIII (enters into force on July 11, 2026) This Law regulates public relations related to the implementation of currency operations, 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:
   Subparagraph 1 is worded in the edition of the Law of the Republic of Kazakhstan dated 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)

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 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 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) into 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 into the Republic of Kazakhstan;
3. currency operations:
   operations 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 into the Republic of Kazakhstan, as well as export, mailing and transfer from the Republic of Kazakhstan of currency values; transfer of currency values into trust management; transfer of currency values on the basis of a brokerage services agreement;
4. currency contract - agreements, charter documents, including amendments and/or additions to them, as well as other documents, on the basis of and/or in implementation of which currency operations are carried out;
   Amendments made to subparagraph 5 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

Source: Information System "PARAGRAPH"
5) accounting number - an identification number assigned to a currency contract or an account in a foreign bank, 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 operations;
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";
Subparagraph 7-1 added to the point in accordance with the Law of the Republic of Kazakhstan dated 12.07.23 No. 23-VIII (entered into force on January 1, 2024) 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 reveal administrative offenses, attributed to the competence of this body by the legislation of the Republic of Kazakhstan, as well as performing other powers provided for by the legislation of the Republic of Kazakhstan; Subparagraph 7-2 added to the point in accordance with the Law of the Republic of Kazakhstan dated 19.09.25 No. 219-VIII (entered into force on November 20, 2025) 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 bank being classified as insolvent banks, absence of an unexpunged or unpardoned 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 being 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 proceeds obtained criminally, terrorism financing 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 (excluding authorized organizations), as well as branches of foreign banks operating in the Republic of Kazakhstan, which carry out currency operations, including on behalf of clients;
Subparagraph 9 is worded in the edition of the Law of the Republic of Kazakhstan dated 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)
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;
Amendments made to subparagraph 10 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
10) national currency:
banknotes and coins of the National Bank of the Republic of Kazakhstan, in circulation and being legal tender on the territory of the

Source: Information System "PARAGRAPH"
Republic of Kazakhstan, as well as withdrawn or removed from circulation, but subject to exchange for banknotes in circulation; money in bank accounts in monetary units of the Republic of Kazakhstan; digital tenge; Amendments made to subparagraph 11 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
11) foreign currency:
banknotes and coins, in circulation and being 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 banknotes 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, being 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 beyond 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.
Amendments made to point 2 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
2. For the purposes of classifying currency operations 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; See: Response of the National Bank of the Republic of Kazakhstan dated September 8, 2025 (nationalbank.kz) "On notification of the NB RK about receiving dividends from a subsidiary non-resident" Amendments made to subparagraph 2 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
2. capital movement operations - operations 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; operations with securities, participation interests and derivative financial instruments; acquisition of ownership rights to real estate, except for movable things, equated or attributed to 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 into trust management, trust; transfer of money and financial instruments to professional participants of the securities market carrying out currency operations on behalf of clients, to accounts for accounting and storage of money and/or financial instruments belonging to clients;

Source: Information System "PARAGRAPH" free transfer of money and other currency values, real estate;
3) financial loans:
loans, except for obligations arising from prepayment, deferral and installment of payment for export or import; money transferred as security for 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 obligation of the person on whose behalf the obligation was fulfilled arises to return money and other property to the person who provided such financing and/or who carried out such fulfillment; financial leasing, real estate lease with subsequent purchase, except for the lease of movable things, equated or attributed to 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, excluding foreign financial organizations.
For the purposes of this Law, currency operations related to the import or export of goods and services are:
operations 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; operations 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 operations are equated to:

1. operations 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 located in a foreign state, except for movable things, equated or attributed to real estate by the laws of the Republic of Kazakhstan;
2. operations 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. free 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 located in a foreign state, except for movable things, equated or attributed to real estate by the laws of the Republic of Kazakhstan. Amendments made to point 3 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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; foreigners and stateless persons, permanently residing in the Republic of Kazakhstan on the basis of a residence permit in the Republic of Kazakhstan;

Source: Information System "PARAGRAPH" legal entities (excluding 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 provides for their status as a resident; foreign offices of the Republic of Kazakhstan; Seventh paragraph of point 3 entered into force on December 16, 2020 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, excluding branches (representative offices) of foreign non-financial organizations recognized as non-residents of the Republic of Kazakhstan in accordance with point 4 of this Article. Amendments made to point 4 in accordance with the Law of the Republic of Kazakhstan dated 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)
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 point 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 terms 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, if an international treaty on their establishment provides otherwise; 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 terms 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 sense in which they are used in the laws of the Republic of Kazakhstan.
Amendments made to Article 2 in accordance with the Law of the Republic of Kazakhstan dated 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)
Article 2. Scope of this Law
This Law applies on the territory of the Republic of Kazakhstan and extends to residents and non-residents carrying out currency operations on the territory of the Republic of Kazakhstan.
Outside the Republic of Kazakhstan, this Law extends to residents.
For authorized organizations and other legal entities carrying out activities within the framework of a special regulation 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 regulation body adopted in accordance with this Law apply within the limits provided for by the terms of the special regulation regime.
Article 3. Currency Legislation of the Republic of Kazakhstan

Source: Information System "PARAGRAPH"

1. 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 regulation 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 other rules than those provided for by this Law, the rules of the international treaty are applied.
   Amendments made to the title of Article 4 in accordance with the Law of the Republic of Kazakhstan dated 30.06.25 No. 205-VIII (entered into force on August 31, 2025) (see old version)
   Article 4. Goals, objectives and principles of currency regulation and currency control
3. The goals of currency regulation are to support state policy to achieve 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 domestic 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 the information base for currency operations 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 operations.
   The objectives of currency control are:

1. determining the compliance of currency operations conducted with the currency legislation of the Republic of Kazakhstan;
2. checking the justification of payments and/or transfers of money for currency operations and the availability of necessary documents for their implementation;
3. checking the completeness, timeliness and objectivity of accounting and reporting on currency operations.
   Amendments made to point 3 of the Article in accordance with the Law of the Republic of Kazakhstan dated 30.06.25 No. 205-VIII (entered into force on August 31, 2025)

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 operations;
3. completeness, accuracy and timeliness of accounting and reporting on currency operations;
4. ensuring the protection of the domestic currency market and the economy of the Republic of Kazakhstan;
5. absence of restrictions on the conduct of currency operations when complying with procedures established by the legislation of the Republic of Kazakhstan.
   Chapter 2. CURRENCY REGULATION
   Article 5. Currency Regulation Bodies

Source: Information system "PARAGRAPH"

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.

Amendments were made to paragraph 3 in accordance with the Law of the RK of 30.06.25 No. 205-VIII (entered into force from August 31, 2025) (see old version).

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 developed by state bodies are subject to coordination with the National Bank of the Republic of Kazakhstan.

Paragraph 4 is presented in the edition of the Law of the RK of 30.06.25 No. 205-VIII (entered into force from August 31, 2025) (see old version).

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. Excluded in accordance with the Law of the RK of 30.06.25 No. 205-VIII (entered into force from August 31, 2025) (see old version).

Article supplemented by paragraph 7 in accordance with the Law of the RK of 12.07.23 No. 23-VIII (entered into force from January 1, 2024).

7. The National Bank of the Republic of Kazakhstan jointly with the authorized body carrying out leadership in the sphere 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 institutions of the Republic of Kazakhstan;

2. transactions, one of the parties to which are residents who have been granted the right to conduct currency transactions with residents 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;

Amendments were made to sub-paragraph 3 in accordance with the Law of the RK of 03.07.19 No. 262-VI (entered into force from January 1, 2020) (see old version).

3. transactions with currency values, which 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 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;

Source: Information system "PARAGRAPH"

Sub-paragraph 4 is presented in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

4. payment for services of authorized banks for conducting transactions carried out with currency values, which are classified as banking operations and other operations that authorized banks have the right to carry out in accordance with the license issued 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. transactions related to the acquisition, sale, payment of remuneration and (or) redemption of securities, the nominal value of which is expressed in foreign currency;

6. transactions 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 transactions for the return of currency values to the principal;

7. transactions for the purchase and (or) sale of refined gold in ingots for national currency;

8. transfer of bills of exchange expressed in foreign currency as fulfillment of monetary obligations;

9. transactions related to settlements upon the sale of goods in duty-free shops, as well as upon the sale of goods and provision of services to passengers during transit during international transportation;

10. transactions between branches (representative offices) of foreign organizations;

11. transactions 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 transactions for the redemption 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 charter activity is aimed at carrying out charity;

13. depositing bank deposits by physical persons in favor of other physical persons;

14. transactions between professional participants of the securities market, carrying out currency transactions on behalf of clients, and physical or legal persons, related to the transfer of money and financial instruments from accounts (to accounts) for accounting and storage of money and financial instruments belonging to clients, within the framework of the execution and termination of contracts for the provision of brokerage services;

Amendments were made to sub-paragraph 15 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

15. transactions 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;

See: Letter of the Committee of State Revenues of the Ministry of Finance of the Republic of Kazakhstan of November 30, 2023 No. KGD-14-2-18/22212 "Details for the payment of taxes and payments to the budget in foreign currency"

Amendments were made to sub-paragraph 16 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

16. transactions 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 extractor's tax obligation in kind, related to the transportation, storage and sale of such mineral resources;

Amendments were made to sub-paragraph 17 in accordance with the Law of the RK of 03.04.19 No. 243-VI (see old version).

17. payments of physical persons for goods, works and services under transactions concluded and executed in their performance 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.

Paragraph supplemented by sub-paragraph 18 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026).

Source: Information system "PARAGRAPH"

18. mutual monetary settlements between senders of products transported by a trunk pipeline, within the framework of the product quality bank mechanism in accordance with the Law of the Republic of Kazakhstan "On the Trunk Pipeline".

2. Currency transactions between residents and non-residents are carried out in national and (or) foreign currency.

See: Response of the Minister of Labor and Social Protection of the Population of the RK of October 3, 2019 No. 363732 (enbek.gov.kz) "Establishment of wages for foreigners in foreign currency is not allowed"

3. Non-residents have the right to freely receive and transfer money for any currency transactions with their branches (representative offices) with a place of residence 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 transactions with residents, in accordance with the currency legislation of the Republic of Kazakhstan.

5. Currency transactions 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 transactions 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 coordination with the National Bank of the Republic of Kazakhstan.

See: Response of the National Bank of the Republic of Kazakhstan of December 2, 2024 (nationalbank.kz) "Is it possible to appoint and pay dividends from a share in an LLC in US dollars to a resident of the RK registered as a participant of the IFCA", Response of the National Bank of the Republic of Kazakhstan of December 6, 2024 (nationalbank.kz) "On the issuance of loans in foreign currency by resident individuals to participants of the IFCA"

7. Currency transactions 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 met.

See: Decree of the President of the Republic of Kazakhstan of March 14, 2022 No. 830 "On measures to ensure the financial stability of the Republic of Kazakhstan"

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

1. Payments and (or) transfers of money for currency transactions 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 allowed 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 by paragraph 4 of this article;

3. settlements upon the sale of goods in duty-free shops, as well as upon the sale of goods and provision of services to passengers during transit during international transportation;

4. transactions of physical persons with cash national and foreign currency, carried out with authorized banks, as well as in exchange points of authorized organizations;

Source: Information system "PARAGRAPH"

5. payment of wages to employees by legal entities and branches (representative offices) of foreign organizations;

6. transactions 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 transactions for the redemption of unspent advances issued in connection with a business trip outside the Republic of Kazakhstan;

7. payments between physical persons and legal entities-non-residents carrying out their activity under customs control in airports, ports and border crossings open for international communication;

8. payments between non-residents and residents for the maintenance of foreign state vessels 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;

Amendments were made to sub-paragraph 11 in accordance with the Law of the RK of 03.07.19 No. 262-VI (entered into force from January 1, 2020) (see old version).

11. transactions 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;

Amendments were made to sub-paragraph 12 in accordance with the Law of the RK of 03.04.19 No. 243-VI (see old version).

12. payments of physical persons for goods, works and services under transactions concluded and executed in their performance 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 transactions carried out outside the Republic of Kazakhstan by resident individuals, foreign institutions of the Republic of Kazakhstan;

Sub-paragraph 14 is presented in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

14. payments and (or) transfers of money for transactions 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;

Amendments were made to sub-paragraph 15 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

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 for carrying out currency transactions in the Republic of Kazakhstan.

Amendments were made to paragraph 2 in accordance with the Law of the RK of 03.04.19 No. 243-VI (see old version).

2. Cash foreign currency received by legal entities and branches (representative offices) of foreign organizations during the conduct of currency transactions 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 transactions on a bank account in an authorized bank related to the withdrawal, crediting and use of cash foreign currency is determined by the rules for carrying out currency transactions in the Republic of Kazakhstan.

Amendments were made to paragraph 3 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

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

4. Physical persons have the right without opening and (or) using an account in an authorized bank within the amount established by the National Bank of the Republic of Kazakhstan to carry out the following transfers of money for currency transactions:

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 transactions on currency contracts, for which it is necessary to obtain a registration number in accordance with this Law.

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 the transfer without opening and (or) using a bank account, is determined by the rules for carrying out currency transactions in the Republic of Kazakhstan.

Article 8. Accounts of residents and non-residents

Paragraph 1 is presented in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

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 on import, in cases of non-execution or incomplete execution of obligations by a non-resident.

Amendments were made to paragraph 2 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

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.

Source: Information system "PARAGRAPH"

The time limit within which a resident (except for a branch (representative office) of a foreign organization) fulfills the requirement for repatriation (hereinafter - the repatriation deadline) is determined based on the conditions for the fulfillment of obligations by the parties to the currency contract for export or import in the manner determined by the rules for carrying out export-import currency control in the Republic of Kazakhstan.

The conditions of the currency contract for export or import, to which the requirement for repatriation applies, must provide for the time limits for the fulfillment of obligations by non-residents. Authorized banks servicing currency contracts for export or import have the right to demand clarification of the repatriation deadline from the resident.

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 the resident (except for a branch (representative office) of a foreign organization) in authorized banks before the expiration of the repatriation deadline.

3. The requirement for repatriation is considered partially or fully fulfilled in cases:

Amendments were made to sub-paragraph 1 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

1. crediting of national and (or) foreign currency to accounts of a resident in foreign banks, international financial organizations intended to ensure the obligations of a resident in accordance with the conditions of a financial loan attracted from a non-resident or to ensure the activity 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;

Amendments were made to sub-paragraph 3 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force from March 19, 2026) (see old version).

3. crediting to accounts in foreign banks, international financial organizations of transport organizations-residents of currency revenue 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 for ensuring the activity 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 set-off of a counterclaim on 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;

See: Response of the National Bank of the Republic of Kazakhstan of June 24, 2025 (nationalbank.kz) "Regarding the conduct of mutual set-off between a loan agreement and a contract for the supply of goods"

6. receipt of an insurance payout in the event of an insured event under insurance contracts for the risk of non-fulfillment of obligations by a non-resident.

Amendments were made to paragraph 4 in accordance with the Law of the RK of 12.07.23 No. 23-VIII (entered into force from January 1, 2024) (see old version).

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 deadline passes to the resident who accepted the right of claim.

For currency contracts for export or import, to which the requirement for repatriation 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 allowed.

Source: Information System "PARAGRAPH"

Point 5 is amended in the edition of the Law of the Republic of Kazakhstan dated July 12, 2023 No. 23-VIII (entered into force from January 1, 2024) (see old ed.)

5. The state revenue authority jointly with the National Bank of the Republic of Kazakhstan and currency control agents monitors the movement of money and other fulfillment of obligations under individual foreign exchange contracts for export or import for the purpose of controlling the fulfillment of the requirement for residents (except for branches (representative offices) of foreign organizations) to repatriate funds.

For the purposes of this monitoring, the authorized bank servicing the foreign exchange contract for export or import assigns it an account number, which is subsequently indicated when submitting reports on the foreign exchange contract for export or import to the currency control authorities.

Amendments have been made to point 6 in accordance with the Law of the Republic of Kazakhstan dated July 12, 2023 No. 23-VIII (entered into force from January 1, 2024) (see old ed.)

6. The procedure for obtaining account numbers for foreign exchange contracts for export or import, monitoring the movement of money and other fulfillment of obligations under such contracts, including the forms and deadlines for submitting reports and deadlines for submitting documents confirming the occurrence, fulfillment, and termination of obligations and/or circumstances that affect the deadlines and/or conditions for the repatriation of national and/or foreign currency, as well as the conditions and criteria, including the threshold value of the amount of the foreign exchange contract for export or import, under which foreign exchange 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 foreign exchange contracts for export or import are determined by the rules for carrying out export-import currency control in the Republic of Kazakhstan.

See: Response of the Chairman of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market dated March 11, 2021 to the question dated February 26, 2021 No. 670674 (dialog.egov.kz) "Regarding the legality of the bank's actions in refusing to register a contract for foreign exchange operations"

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 the aggregate of relations between residents and non-residents related to the performance 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.

Point 2 is amended in the edition of the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

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 for carrying out foreign exchange 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 activities based on contracts concluded with them.

Source: Information System "PARAGRAPH"

4. The purchase and/or sale of cash foreign currency for other cash foreign or cash national currency by individuals in the Republic of Kazakhstan is carried out exclusively through exchange points.

5. The National Bank of the Republic of Kazakhstan monitors the sources of demand and supply in the internal currency market of the Republic of Kazakhstan and the purposes of using the acquired foreign currency.

Authorized banks submit information to the National Bank of the Republic of Kazakhstan on the sources of demand and supply in the internal currency market of the Republic of Kazakhstan and the purposes of using the acquired foreign currency.

The procedure for submitting information by authorized banks on the sources of demand and supply in the internal currency market of the Republic of Kazakhstan and the purposes of using the acquired foreign currency, including the forms and deadlines for submitting reports, is determined by the rules for monitoring the sources of demand and supply in the internal currency market of the Republic of Kazakhstan.

Point 6 is amended in the edition of the Law of the Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force from August 31, 2025) (see old ed.); Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

6. The rules for carrying out foreign exchange 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 individuals) 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 Republic of Kazakhstan dated June 30, 2025 No. 205-VIII (entered into force from August 31, 2025) (see old ed.)

Article 11. Organization of exchange operations with cash foreign currency

Point 1 is amended in the edition of the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

1. Exchange operations with cash foreign currency in the Republic of Kazakhstan, including the purchase and/or sale of cash foreign currency for other 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 have no right to provide financial services for the purchase and/or sale of cash foreign currency in the Republic of Kazakhstan.

Amendments have been made to point 2 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

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 other cash foreign or cash national currency is determined by the rules for 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 sales rates of cash foreign currency for cash national currency for operations conducted through exchange points. Types of foreign currencies and

Source: Information System "PARAGRAPH"

the corresponding limits for the deviation of rates are established by the National Bank of the Republic of Kazakhstan.

The heading is amended in the edition of the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

Article 12. Requirements for activities for carrying out exchange operations with cash foreign currency

Amendments have been made to point 1 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

1. An authorized bank having the right to carry out exchange operations with cash foreign currency in accordance with the license issued to it by the authorized body for 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 start or cessation of exchange point activities.

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

Amendments have been made to point 2 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

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

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

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

Amendments have been made to point 3 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.); Law of the Republic of Kazakhstan dated September 19, 2025 No. 219-VIII (entered into force from November 20, 2025) (see old ed.)

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 the 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.

Amendments have been made to point 4 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

4. The presence of premises for the placement of an exchange point by an 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 attachment to it.

To obtain a license and/or an attachment to it, in addition to documents defined 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 about the presence of an account in foreign currency.

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

Amendments have been made to point 5 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

5. The issuance of a license (including an attachment to it) for exchange operations with cash foreign currency or refusal to issue a license (including an attachment to it)

Source: Information System "PARAGRAPH"

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 attachment to a valid license, reissuance of a license and/or an attachment 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 attachment to it, the applicant is provided with a reasoned response.

6. Grounds for refusing to issue, reissue a license and/or an attachment 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".

Point 7 is amended in the edition of the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force from January 1, 2020) (see old ed.)

7. The procedure for licensing authorized organizations, including qualification requirements for them, notification by an authorized bank about the start or cessation of exchange point activities, requirements for activities for carrying out exchange operations with cash foreign currency, conditions for the functioning of exchange points and the procedure for carrying out 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 submitting reports by authorized banks and authorized organizations are determined by the rules for carrying out exchange operations with cash foreign currency in the Republic of Kazakhstan.

Amendments have been made to the chapter heading in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

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

Article 13. Monitoring of foreign exchange operations

Amendments have been made to point 1 in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

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

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

Subpoint 1 is amended in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

1. assigns account numbers to foreign exchange contracts, on the basis of and/or in execution of which capital movement operations and operations equivalent to them are carried out (hereinafter - foreign exchange contracts for capital movement), and receives information about the foreign exchange operations carried out on them and related requirements for non-residents and obligations to non-residents;

Source: Information System "PARAGRAPH"

Amendments have been made to subpoint 2 in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

2. receives notifications and/or information about foreign exchange operations carried out, including information about payments and/or transfers of money for foreign exchange operations;

Subpoint 3 is amended in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

3. receives information about accounts in foreign banks, international financial organizations opened by residents (except for banks and branches (representative offices) of foreign organizations), and assigns account 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;

Point supplemented with subpoint 5 in accordance with the Law of the Republic of Kazakhstan dated July 18, 2025 No. 215-VIII (entered into force from January 1, 2026)

5. submits to the state revenue authority information about operations recognized as income of a non-resident from sources in the Republic of Kazakhstan in accordance with subpoint 39) of point 1 of Article 679 of the Tax Code of the Republic of Kazakhstan.

Point 2 is amended in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

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

Authorized banks assign account numbers to foreign exchange contracts for export or import, settlements for which are carried out through accounts in authorized banks.

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

If a foreign exchange 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 carrying out of export or import, and settlements for it are carried out through bank accounts in authorized banks, the resident (except for an authorized bank and a 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 account numbers to such a foreign exchange 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 account numbers to foreign exchange contracts for capital movement, accounts of residents (except for banks and branches (representative offices) of foreign organizations) in foreign banks, international financial organizations, as well as foreign exchange contracts for export or import, settlements for which are carried out through such accounts, are not associated with the adoption of an administrative act.

Source: Information System "PARAGRAPH"

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

1. information about the participants of the foreign exchange contract, including identification data, country of registration, information about the participation of the party to the foreign exchange contract in the capital of the other party to the foreign exchange contract;

2. information about the transaction, including the details and amount of the foreign exchange contract, the currency of the foreign exchange contract and settlements for it, the date of completion of the fulfillment of obligations under the foreign exchange contract;

3. information about the accounts through which settlements for the transaction will be carried out;

4. amendments and/or additions to the foreign exchange contract made by its participants, and other documents of the participants of the foreign exchange contract related to the transaction being carried out.

Article supplemented with points 4 and 5 in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

4. The assignment by the National Bank of the Republic of Kazakhstan of account numbers to foreign exchange contracts for capital movement, accounts of residents in foreign banks, international financial organizations, foreign exchange 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 account number is not grounds for exemption from liability for violation of the requirements of the legislation of the Republic of Kazakhstan.

5. A resident (except for a bank and a branch (representative office) of a foreign organization) submits information for the assignment of an account number to a foreign exchange contract for capital movement and the assignment of an account 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 the procedures for authentication by means of an electronic digital signature.

The submission of reports on foreign exchange 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 the procedures for authentication by means of an electronic digital signature.

Article 14 is amended in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force from March 19, 2026) (see old ed.)

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

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

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

2. A resident (except for a bank and a branch (representative office) of a foreign organization) who is a participant in a foreign exchange contract for capital movement applies to the National Bank of the Republic of Kazakhstan for the assignment of an account number to a foreign exchange contract for capital movement before the start of the fulfillment of obligations under such a foreign exchange contract by any of its parties.

If the fulfillment of the resident's obligations under a foreign exchange 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

Source: Information System "PARAGRAPH"

request for assignment of a registration number to a currency contract on capital movement is made before the transfer of property (receipt of money) to the disposal of the resident and/or crediting of received money to the bank accounts of the resident in authorized banks. If as a result of amendments and/or additions the currency contract on capital movement became consistent with the criteria and conditions for assigning a registration number, then assigning a registration number to a currency contract on capital movement is carried out before the start of performance by the parties of obligations under the currency contract on capital movement with the entered amendments and/or additions (before the transfer of property (receipt of money) to the disposal of the resident, if after making amendments and/or additions to the currency contract on capital movement the performance of the obligation is started by a non-resident). For currency contracts on capital movement subject to assignment of a registration number, carrying out currency operations by agents of currency control is carried out only upon the presence of a registration number.

3. For the purposes of monitoring currency operations
   under currency contracts on capital movement, the National Bank of the Republic of Kazakhstan has the right to request for review originals of currency contracts on capital movement and amendments and/or additions to them, as well as other documents and/or information related to the implementation of capital movement operations 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. Assignment of a registration number to a currency contract on capital movement is carried out within five working days from the day of presentation by the resident of the required documents and information.

4. Currency operations under currency contracts on 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 assigning registration numbers.

5. The procedure for obtaining by residents (excluding banks and branches (representative offices)
   of foreign organizations) registration numbers for currency contracts on capital movement and deadlines for submission by them of documents confirming the emergence, performance and termination of obligations, the procedure for monitoring the movement of money and other performance of obligations under currency contracts on capital movement, including forms and deadlines for 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 on capital movement, under which such contracts are subject to assignment of registration numbers, and exceptions from the procedure for assigning registration numbers are determined by the rules of monitoring currency operations in the Republic of Kazakhstan.

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

Changes were made to the title of the article in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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

Changes were made to paragraph 1 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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.

Changes were made to paragraph 2 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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, on the basis of information obtained during the processing of payments and/or transfers of money.

Source: Information System "PARAGRAPH"
A client, being a resident or non-resident, for the purpose of making a payment and/or transfer of money for a currency operation in an amount equal to or exceeding the threshold value, to the authorized bank is submitted the following information:

1. the country of registration of the sender and beneficiary of the payment document, if these
   data do not match the data 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, then additionally the following information is submitted on the currency contract, on the basis and/or in execution of which the payment and or/and transfer of money for a currency operation is carried out:
4. 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;
5. the country of registration of the sender and recipient of money under the currency contract - in
   the case of mismatch with the sender and beneficiary of the payment document;
6. details of the currency contract and the registration number of the currency contract (if available).
   The information on the payment and/or transfer of money for a currency operation indicated in this paragraph is submitted to the authorized bank by the client or indicated by the authorized bank independently on the basis of documents and/or information submitted by the client in the manner and deadlines established by the rules of carrying out 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 provided for by this paragraph. The threshold value regarding the amount of payment and/or transfer of money for a currency operation, subject to notification and/or information on which is subject to submission, codes of currency operations and the procedure for submitting information indicated in this paragraph, are determined by the rules of carrying out currency operations in the Republic of Kazakhstan.

Changes were made to paragraph 3 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

3. The procedure for notification and/or submission of information on carried out currency
   operations by authorized banks, including forms and deadlines for submission of reports, is determined by the rules of carrying out 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 acts of the International Financial Center "Astana" in agreement with the National Bank of the Republic of Kazakhstan.

Paragraph 4 is redacted in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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, on which information and/or notification is submitted, a copy of the currency contract, on the basis and/or in execution of which such payment and/or transfer of money were carried out, as well as other information on such currency contract.

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

Article 16 is redacted in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

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

Source: Information System "PARAGRAPH"

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 assigning it a registration number by submitting information on such an account before carrying out operations with the use of such an account. Assignment of a registration number to an account in a foreign bank, an international financial organization is carried out within five working days from the day of presentation 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, an international financial organization, indicating the registration number. In the event of changes in details or closure of an account in a foreign bank, international financial organization, to which a registration number was assigned, a legal entity - resident (excluding a bank and a branch (representative office) of a foreign organization) in established deadlines notifies the National Bank of the Republic of Kazakhstan about this. For accounts of a resident in a foreign bank, international financial organization subject to assignment of a registration number, the carrying out of payments and/or transfers of money with the use of such an account is carried out only upon the presence of a registration number.

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

3. The procedure for obtaining by legal entities - residents (excluding banks and
   branches (representative offices) of foreign organizations) registration numbers for accounts in foreign banks, international financial organizations, notification by them of changes in details or closure of an account in a foreign bank, international financial organization, including forms and deadlines for submission of reports on the movement of money on such accounts, are determined by the rules of monitoring currency operations in the Republic of Kazakhstan. The procedure for submission by authorized banks of reports on carried out currency operations is determined by the rules of carrying out 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 submission of information by branches (representative offices) of foreign non-financial organizations, including forms and deadlines for submission of reports, as well as types of activities, in the course of which branches (representative offices) of foreign non-financial organizations are required to submit reports, are determined by the rules of 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

Source: Information System "PARAGRAPH" 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.

See: Resolution of the Board of the National Bank of the Republic of Kazakhstan of April 10, 2019 No. 64 "On Approval of the Rules of Monitoring Currency Operations in the Republic of Kazakhstan"

Chapter 5. CURRENCY CONTROL

Article 18. Bodies, 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, other bodies and agents of currency control in accordance with this Law and the legislation of the Republic of Kazakhstan.

2. Bodies of currency control in the Republic of Kazakhstan are the National Bank
   of the Republic of Kazakhstan and other state bodies in accordance with 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 operations on behalf of clients.

Changes were made to paragraph 3 in accordance with the Law of the RK of 12.07.23 No. 23-VIII (entered into force on January 1, 2024) (see old version)

3. Currency control in the Republic of Kazakhstan is conducted in relation to residents, including
   financial organizations carrying out currency operations, as well as non-residents carrying out currency operations on the territory of the Republic of Kazakhstan (hereinafter - subjects of currency control).
   Currency control in relation to financial organizations is carried out by the National Bank of the Republic of Kazakhstan. Currency control in relation to other persons is carried out by the body of state revenues, the National Bank of the Republic of Kazakhstan and/or other bodies of currency control within their competence.

4. The National Bank of the Republic of Kazakhstan interacts with other bodies
   of currency control, as well as coordinates information interaction of agents of currency control with other bodies of currency control.

Article 19. Powers of bodies and agents of currency control

1. Bodies and agents of currency control within their competence carry out
   currency control of currency operations carried out by residents and non-residents in the Republic of Kazakhstan, in terms of compliance of these operations with the currency legislation of the Republic of Kazakhstan.

Paragraph 2 is redacted in the edition of the Law of the RK of 12.07.23 No. 23-VIII (entered into force on January 1, 2024) (see old version); changes were made in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

2. Bodies of currency control have the right to determine the procedure for submission of reporting on
   currency operations, request documents and/or information related to the carrying out of currency operations, impose requirements to eliminate identified violations, causes and conditions contributing 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 carrying out of a currency operation, including with the implementation of internal control for the purpose of counteracting legalization (laundering)

Source: Information System "PARAGRAPH" income obtained by criminal means, financing of terrorism and financing of the proliferation of weapons of mass destruction by the authorized bank.

3. Agents of currency control are obliged to:

1. carry out control over compliance with the requirements of the currency legislation
   of the Republic of Kazakhstan in the course of operations, including on behalf of clients;
2. ensure the completeness and objectivity of accounting and reporting on currency operations;
3. report to the National Bank of the Republic of
   Kazakhstan, as well as other bodies of currency control and law enforcement agencies of the Republic of Kazakhstan in accordance with their powers established by laws of the Republic of Kazakhstan, about facts of violations of the currency legislation of the Republic of Kazakhstan known to them, committed by their clients;

Changes were made to sub-paragraph 4 in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

4. submit to bodies of currency control information, documents and/or information on
   currency operations carried out with their participation, in the manner established by the currency legislation of the Republic of Kazakhstan.

Changes were made to paragraph 4 in accordance with the Law of the RK of 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version); redacted in the edition of the Law of the RK of 12.07.23 No. 23-VIII (entered into force on January 1, 2024) (see old version)

4. Bodies and agents of currency control are obliged to preserve in accordance with
   the legislation of the Republic of Kazakhstan commercial, banking and other legally protected secrets that became known to them in the course of exercising their powers, including in course of information exchange 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.

Paragraph 5 is redacted in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

5. An agent of currency control carries out currency operations of a resident and/or
   non-resident only upon condition of presentation by the latter of documents and/or information required in accordance with the currency legislation of the Republic of Kazakhstan.

6. For the purpose of ensuring compliance with the requirements of the currency legislation of the Republic
   of Kazakhstan, agents of currency control in accordance with this Law have the right to require from residents and non-residents in the course of carrying out currency operations:

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 -
   charter and other documents, including identifying participants of this entity;
4. a currency contract or its copy, including with a mark on the assignment of a registration number
   in cases established by this Law;
5. a license in cases established by this Law;
6. documents and/or information confirming the performance or on the basis of which
   it is necessary to perform obligations under currency contracts;
7. information on payments and/or transfers of money for currency operations in accordance with
   Article 15 of this Law.
   An authorized bank has the right to request for review originals of currency contracts and other documents required by this paragraph, as well as a translation into Kazakh or Russian of documents drawn up in a foreign language.

See: Letter of the Department of Payment Balance of the National Bank of the Republic of Kazakhstan of February 5, 2024 No. 04-4-13/266 "As an original of a currency contract, a contract concluded by methods provided for by part two of paragraph 3 of Article 152 of the Civil Code may also be recognized"

7. Agents of currency control are not entitled to require submission of documents not
   related to the carried out currency operation.

Paragraph 8 is redacted in the edition of the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

8. Agents of currency control refuse to carry out a currency operation in cases
   of non-submission by a person of information, documents and/or information required in accordance with the currency legislation of the Republic of Kazakhstan, submission of unreliable documents by them, or non-performance of actions established by the currency legislation of the Republic of Kazakhstan.

Article 20. Forms of currency control

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

Paragraph 2 is redacted in the edition of the Law of the RK of 12.07.23 No. 23-VIII (entered into force on January 1, 2024) (see old version); changes were made in accordance with the Law of the RK of 16.01.26 No. 259-VIII (entered into force on March 19, 2026) (see old version)

2. Inspections based on risk assessment, unscheduled and documentary inspections of the body of currency control and other forms
   of control are conducted in relation 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 operations for the purpose of counteracting legalization (laundering) of income obtained by criminal means, financing of terrorism and financing of the proliferation of weapons of mass destruction. In relation to other residents carrying out currency operations, as well as non-residents carrying out currency operations on the territory of the Republic of Kazakhstan, currency control procedures are conducted in the course of carrying out payments and/or transfers of money for currency operations, inspections of the body of currency control and other forms of control.

Changes were made to paragraph 3 in accordance with the Law of the RK of 12.07.23 No. 23-VIII (entered into force on January 1, 2024) (see old version)

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

1. inspection of the premises and equipment of an exchange office of an authorized organization for
   compliance with qualification requirements;
2. sending to an agent of currency control an order mandatory for execution, for
   the purpose of proper implementation of currency control;

Sub-paragraph 3 is redacted in the edition of the Law of the RK of 12.07.23 No. 23-VIII (entered into force on January 1, 2024) (see old version)

3. analysis of information, reporting and documents related to the carrying out of a currency
   operation, requested by the body of currency control in connection with 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 indicated 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:

Sub-paragraph 1 is redacted in the edition of the Law of the RK of 03.07.19 No. 262-VI (entered into force on January 1, 2020) (see old version)

1. visit and inspection of premises, inspection of equipment intended for an exchange
   office of an authorized organization, for compliance with 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 attachment to it. Visit and inspection are carried out on the basis of a received application of 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

Source: Information system "PARAGRAPH" appendices to it. The results of the inspection are taken into account when making a decision to issue or refuse to issue to a legal entity a license of the National Bank of the Republic of Kazakhstan for exchange operations with cash foreign currency and (or) its appendices; Subparagraph 2 is amended in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old edition)
2) sending to the agent of currency control a written order, in which the essence of the order and the terms of its execution are specified. The agent of currency control executes the order of the currency control body in the form and terms specified in such an order;
3) carrying out by the currency control body an analysis of information, reporting, documents submitted in accordance with the currency legislation of the Republic of Kazakhstan or at the request of the currency control body, regarding compliance with the requirements of the currency legislation of the Republic of Kazakhstan, including regarding the timeliness, completeness and accuracy of the received information, reporting, documents.
The Law is supplemented by Article 20-1 in accordance with the Law of the Republic of Kazakhstan dated July 12, 2023 No. 23-VIII (entered into force on January 1, 2024)
Article 20-1. Features of conducting currency control for the repatriation of national and (or) foreign currency for export or import by the state revenue body

1. Currency control over the compliance by residents specified in paragraph 2 of Article 9 of this Law (hereinafter - the audited resident) with the requirement of repatriation of national and (or) foreign currency for export or import is carried out by the state revenue body.
   See: Joint resolution of the Board of the National Bank of the Republic of Kazakhstan dated September 29, 2023 No. 78 and order of the Deputy Prime Minister - Minister of Finance of the Republic of Kazakhstan dated October 4, 2023 No. 1054 "On Approval of the Rules for Carrying Out Export-Import Currency Control in the Republic of Kazakhstan"
2. The state revenue body, when conducting currency control over the compliance of the audited resident with the requirement of repatriation of national and (or) foreign currency for export or import, conducts an inspection and (or) carries out another form of control provided for in subparagraph 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 him a written request for the provision of information and (or) documents related to the conduct of a currency operation, including regarding the fulfillment of obligations under a currency contract for export or import. The written request specifies:

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

4. The beginning of the inspection is the sending to the audited resident of a written request signed by an authorized official of the state revenue body.
   A written request sent by one of the following methods is considered 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. electronically:

Source: Information system "PARAGRAPH" from the date of delivery of the written request in the web application. This method applies to the audited resident registered as a user of the information system of the state revenue body; from the date of delivery of the notification to the user's personal account on the "electronic government" web portal. This method applies to the audited resident registered on the "electronic government" web portal.
5. The requested information and (or) documents (their copies) are provided by the audited resident within the terms established in the written request of the state revenue body, 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 at the authorized bank servicing the audited resident, the state revenue body sends a written request to such a bank using another form of currency control provided for in subparagraph 3) of paragraph 3 of Article 20 of this Law.
7. The completion of the inspection by the state revenue body 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) money transfers for certain currency operations
Paragraph 1 is amended in the edition of the Law of the Republic of Kazakhstan dated July 12, 2023 No. 23-VIII (entered into force on January 1, 2024) (see old edition); Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old edition)

1. Payments and (or) money transfers of clients of the authorized bank for certain currency operations, the conduct of which may be aimed at withdrawing money from the Republic of Kazakhstan, evasion of compliance with the requirements of the currency legislation of the Republic of Kazakhstan, as well as currency operations 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 operations in the Republic of Kazakhstan, and upon presentation 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 a payment and (or) money transfer to the currency control bodies and law enforcement agencies.
   See: Rules for Carrying Out Currency Operations in the Republic of Kazakhstan Paragraph 2 is amended in the edition of the Law of the Republic of Kazakhstan dated July 12, 2023 No. 23-VIII (entered into force on January 1, 2024) (see old edition); amended in accordance with the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old edition)
2. Types and criteria for certain currency operations, the conduct of which may be aimed at withdrawing money from the Republic of Kazakhstan, evasion of compliance with the requirements of the currency legislation of the Republic of Kazakhstan, as well as currency operations that do not have an obvious economic sense, are established by the rules for carrying out currency operations in the Republic of Kazakhstan.
   Article 22. Limited impact measures, supervisory response measures and sanctions
3. Currency control bodies, upon detecting 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.
   Paragraph 2 is amended in the edition of the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force on January 1, 2020) (see old edition)
4. Upon detection by the National Bank of the Republic of Kazakhstan of violations of the currency legislation of the Republic of Kazakhstan, the following are applied:

Source: Information system "PARAGRAPH"
Amendments were made to subparagraph 1 in accordance with the Law of the Republic of Kazakhstan dated April 6, 2024 No. 71-VIII (entered into force on June 8, 2024) (see old edition); is amended in the edition of the Law of the Republic of Kazakhstan dated January 16, 2026 No. 259-VIII (entered into force on March 19, 2026) (see old edition)

1. administrative penalties in accordance with the Code of the Republic of Kazakhstan on Administrative Offenses, as well as demands for the elimination of identified violations and (or) causes and conditions contributing to their commission, are presented to authorized banks and professional participants of the securities market carrying out currency operations 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, are applied 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, are applied to other residents not specified in subparagraphs 1) and 2) of this paragraph, as well as non-residents carrying out currency operations on the territory of the Republic of Kazakhstan.
   Amendments were made to paragraph 3 in accordance with the Law of the Republic of Kazakhstan dated July 3, 2019 No. 262-VI (entered into force on January 1, 2020) (see old edition)

3. A written notification of the National Bank of the Republic of Kazakhstan to eliminate identified violations is mandatory for execution by subjects specified in subparagraph 3) of paragraph 2 of this Article, within the term established in such a 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 bodies within their competence. See: Rules for applying supervisory response measures to legal entities carrying out activities exclusively through exchange points based on a license of the National Bank of the Republic of Kazakhstan for exchange operations with cash foreign currency, and legal entities whose exclusive activity is the collection of banknotes, coins and valuables
   Article 23. Rights and obligations of residents and non-residents
4. Residents and non-residents carrying out currency operations on the territory of the Republic of Kazakhstan have the right:

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

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

1. to submit to currency regulation and control bodies and currency control agents reporting, information and documents on their currency operations in order to fulfill the requirements established by this Law and the currency legislation of the Republic of Kazakhstan;
2. to provide currency control bodies and agents with information and requested documents regarding the conduct of currency operations within the terms established in the written request of the currency control body or normative legal acts of the National Bank of the Republic of Kazakhstan;
3. to provide explanations to currency control bodies during the conduct of inspections and other forms of control by them, as well as on their results;
4. to keep records and prepare reporting on currency operations conducted, ensuring the storage of reporting for the period established by the legislation of the Republic of Kazakhstan;

Source: Information system "PARAGRAPH"
5) to fulfill the requirements (instructions, orders, notifications) of currency control bodies to eliminate identified violations;
6) to provide currency control bodies with access to their premises, documents and automated databases during the conduct of inspections by them.
Chapter 6 is amended in the edition of the Law of the Republic of Kazakhstan dated April 6, 2024 No. 71-VIII (entered into force on June 8, 2024) (see old edition)
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 corresponding authorized bodies, measures may be introduced providing for a special procedure for the conduct of certain currency operations.
   The measures specified in the first part of this paragraph 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 of a temporary 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 permitting or notification procedure, then the action of the Law of the Republic of Kazakhstan "On Permits and Notifications" does 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
4. 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.
5. To recognize as having lost force the Law of the Republic of Kazakhstan dated June 13, 2005 "On Currency Regulation and Currency Control" (Vedomosti Parlamenta Respubliki 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
   Republic of Kazakhstan
   N. NAZARBAYEV
   Astana, Akorda, July 2, 2018

Source: Information system "PARAGRAPH"
No. 167-VI ZRK