🇰🇿Kazakhstan: Banks, Residence, Business and the AIFC

Over four years Kazakhstan has turned from a transit point into a jurisdiction for private capital in its own right. A non-resident opens a bank account on an entry stamp, a permanent residence permit comes without an investment threshold, a company takes days to register, and Astana runs the AIFC — a financial centre operating under English law. For money of Russian origin this is one of the few countries where the banking system stays accessible and the compliance requirements are known in advance.

The rules were recalculated twice in 2026. Since 1 January a new Tax Code applies: VAT rose from 12% to 16%, personal income tax gained a progressive scale, and the special regimes were rebuilt. Since 1 May a nationwide digital-asset regime has been in force. Structures priced under the 2022–2025 rules need a fresh look. All figures are as of August 2026.

Why private capital comes to Kazakhstan

The first reason is banking. Major banks open accounts for citizens of Russia and the CIS on a personal visit, without a residence permit or a local contract: an entry stamp, an IIN and a local SIM are enough — that is how Kaspi works. SWIFT transfers go out in a dozen currencies, including CNY and AED.

The settlement-bridge role between the Russian and the outside perimeter rests on a dual status. Kazakhstan is an EAEU member, there is no customs border with Russia and rouble payments are routine for local banks — while at the same time the country has imposed no counter-sanctions of its own and observes Western restrictions for fear of secondary ones. For a capital owner that means a corridor working in both directions, with ever-rising demands on the cleanliness of flows.

The second is status. A temporary residence permit (RVP) takes about 19 working days, the permanent residence permit is issued for 10 years at once, and citizens of Russia, Belarus, Kyrgyzstan and Ukraine are exempt from the solvency threshold.

The third is institutional. The AIFC offers common law, an independent court and tax exemptions until 2066 — a rare combination in a country that at the same time keeps banking access open to Russians. The constraints are real too: compliance on money with a Russian footprint tightens every year, indirect taxes went up, and almost every step requires personal presence.

Taxes: what the 2026 code changed

Tax residency follows from spending 183 days or more in the country within any rolling twelve months, or from having a centre of vital interests — family, housing, citizenship or a residence permit — in Kazakhstan. A resident is taxed on worldwide income, a non-resident only on Kazakh-source income. Day-count practice and residency certificates are covered in the residency overview.

The new Tax Code — Law No. 214-VIII of 18 July 2025 — kept the overall level of direct taxes and raised the indirect ones. The key 2026 rates look like this:

For an owner of capital the dividend line is the one that matters: the 230,000 MCI threshold is so high that most private-company owners stay at 5%; at the same time 16% VAT and the sharply lowered registration threshold pull even small businesses into VAT administration.

The simplified regime went through the harshest rebuild. A list approved by Government Resolution No. 970 of 14 November 2025 is now closed to it — 44 activity types covering some 184 OKED codes: consulting and marketing services, accounting and audit, legal activity, construction, finance and insurance — and buyers on the standard regime lost the right to deduct purchases from simplified-regime suppliers for CIT purposes (art. 286(16) of the Tax Code). The regime has effectively narrowed to B2C; a services business with corporate clients is left with the standard regime and 20% CIT. Choosing the form and regime for a specific case is covered in the IP and LLP breakdown.

Owners of foreign structures should factor in the CFC rules: profits of controlled foreign companies from low-tax jurisdictions are included in a Kazakh resident's taxable income. After the move, reporting on foreign companies continues — now to the Kazakh tax authority.

Companies: the LLP and the AIFC alternative

Individual entrepreneur (IP) status is reserved for permanent residents from EAEU states and Tajikistan. A non-resident without a residence permit uses an LLP: the founder needs business-immigrant status — an RVP or a C5 visa. The LLP covers the standard needs — an account, hiring, leases, contracts with local counterparties; the tax choice comes down to the simplified regime, where the activity is permitted, or the standard regime with VAT.

For financial, investment and fintech projects there is a second corporate jurisdiction inside the same country: an AIFC company is governed by the centre's acts, litigates in an English-style court and enjoys benefits a regular LLP does not have. Registration in the centre does not switch off Kazakh currency regulation or personal tax residency — what changes is the applicable corporate law and the taxation of qualifying income.

The AIFC: English law and benefits until 2066

The AIFC is a special jurisdiction within Astana: its own law based on English law, a court presided over by Lord Burnett of Maldon, former Lord Chief Justice of England and Wales, the IAC arbitration centre and the AFSA regulator. Participants are exempt from CIT and VAT on income from qualifying financial services — asset management, brokerage, banking and insurance operations — until 1 January 2066 under Art. 6 of Constitutional Statute No. 438-V. Foreign employees of participants are exempt from personal income tax, and dividends and gains on securities listed on the AIX exchange are not taxed at all.

Trading and manufacturing companies get no benefits: without qualifying financial income, taxes are computed as for a regular LLP. That is why the AIFC attracts funds, management companies, brokers and crypto platforms; for testing new financial products AFSA runs the FinTech Lab regulatory sandbox with lightened requirements at the start. Entry rules, AFSA licences and the cost of participation are in the AIFC profile.

Statuses: from entry stamp to permanent residence

Citizens of EAEU states stay in Kazakhstan without formal status for up to 90 days out of 180. Beyond that the route is standard: an RVP on the grounds of work, study or business immigration — about 19 working days via a public service centre or egov — followed by a permanent residence permit issued for 10 years at once. The solvency threshold for permanent residence — 1,320 MCI, KZT 5,709,000 in 2026 — does not apply to citizens of Russia, Belarus, Kyrgyzstan and Ukraine. The IIN, without which neither the bank nor the tax office will deal with a person, is issued only in person at a public service centre.

Permanent residence does not require living in the country full-time, but tax residency is tested separately — by the 183 days or the centre of vital interests. The step-by-step mechanics of statuses are in the RVP and permanent residence guide, moving an entire life with assets and family is covered in the relocation from Russia piece, and freelancers and creators with foreign income have a dedicated route.

Banks: how non-residents actually open accounts

The common rules are uniform: non-resident cards are issued for no more than 12 months (ARDFM Resolution No. 96), the account keeps working after the card expires, and remote opening is closed across all major banks. The differences lie in what status each bank demands:

The practical order follows from the table: Kaspi opens first with the lowest entry bar, BCC is added for SWIFT and rare currencies, and premium service arrives at Halyk or Forte once there is a deposit to place.

The sanctions filter is uniform: SWIFT transfers from sanctioned Russian banks do not go through, large credits come with source of funds checks, and at the same time the National Bank has publicly confirmed that non-resident funds are not blocked. Funding routes from Russia and outbound legs to the outside perimeter are mapped in the Kazakhstan payment route piece.

Crypto: two regulatory perimeters

Until 2026 legal digital-asset business existed only inside the AIFC: exchanges, custodians and brokers operate under AFSA licences, and mining runs under a separate law with a mandatory sale of part of the output through the centre's exchanges. The active venues and licence types are in the Kazakhstan crypto licences overview.

Since 1 May 2026 the legal field covers the whole country: amendments took effect to Law No. 193-VII "On Digital Assets". Crypto exchangers must obtain a National Bank licence, trading platforms and digital financial asset operators pass registration, stablecoins and tokenised assets are recognised by law, and buying and paying through licensed providers is legal. The ARDFM supervises digital financial assets other than stablecoins; the AIFC keeps its own regime. Among classical banks the segment is directly targeted by Alatau City Bank, which rebuilt its strategy around digital assets after rebranding from Jusan.

Typical combinations

A relocator with remote income: a Kaspi card on an entry stamp — an RVP — permanent residence — tax residency by the 183 days with 10% personal income tax. The whole sequence assembles within a season and needs no large outlays.

An entrepreneur with corporate clients: an LLP on the standard regime, because the simplified regime is closed to B2B services; a BCC account for currency operations; VAT registration once turnover passes KZT 43.25 mln. Dividends to a resident owner are paid with 5% withheld.

An asset manager or fintech: an AIFC company with an AFSA licence, zero CIT on qualifying financial services until 2066, investors and listings via AIX. A crypto project: an AFSA licence inside the centre or, since May 2026, a National Bank licence on the general perimeter.

Who the route does not fit: those after zero personal taxation — the UAE has no personal income tax; and those who need global-grade private banking — that segment remains thin here. Weighing the Kazakh option against Dubai and Singapore is done in the route comparison.

Risks