Currency Control in Kazakhstan 2026: Contract Registration Numbers, the Repatriation Requirement and Obligations of Foreign-Owned Companies

Kazakhstan's currency regime runs on three separate tracks. A contract registration number is assigned to an export or import currency contract above USD 50,000 — the track that enforces repatriation of proceeds. Registration of capital movement contracts applies above USD 500,000. Notification of foreign bank accounts is mandatory for resident legal entities before any transaction on the account. The statutory basis is Law of the Republic of Kazakhstan No. 167-VI of 2 July 2018 "On Currency Regulation and Currency Control".

⚠ A change of enforcer that many businesses missed. Under the Law of 12 July 2023 No. 23-VIII, from 1 January 2024 the currency control function relating to repatriation passed to the state revenue authorities. Compliance with the repatriation requirement is policed not by the National Bank but by the State Revenue Committee and its territorial divisions — and it is they who draw up the administrative protocols.

Who the currency legislation applies to

Kazakhstan's currency legislation applies to residents and non-residents carrying out currency transactions in Kazakhstan, and residents must also comply with it when transacting outside the country. The scope is set by Article 2 of Law No. 167-VI.

For currency control purposes an exporter or importer is a Kazakhstan resident — a legal entity, its branch, or an individual entrepreneur — that has concluded an export or import currency contract with a non-resident, or has taken over a claim against a non-resident by assignment or assumed a debt to a non-resident by transfer.

Two practical consequences follow for groups. A branch of a Kazakhstan legal entity is a subject of the export-import control obligations in its own right, and an assignment of the claim under a contract carries the obligations across to the new holder automatically.

Ratified international treaties retain priority over the currency legislation.

The legal framework in force in 2026

The regime consists of the Law and three National Bank instruments. The chain below shows the versions currently in force.

Instrument	Status in 2026	Scope
Law No. 167-VI of 2 July 2018	In force; amended by Laws of 12.07.2023 No. 23-VIII, 30.06.2025 No. 205-VIII, 19.09.2025 No. 219-VIII, 09.01.2026 No. 256-VIII and 16.01.2026 No. 259-VIII	General rules on currency transactions, the repatriation requirement, monitoring
Rules on Export-Import Currency Control	Approved by joint Resolution of the National Bank Board of 29.09.2023 No. 78 and Order of 04.10.2023 No. 1054, reg. No. 33512; in force from 01.01.2024; version as amended to 01.03.2026	Registration numbers, repatriation periods, monitoring and deregistration
Rules on Carrying Out Currency Transactions	Resolution of the National Bank Board of 30 March 2019 No. 40, reg. No. 18512	Procedure for currency transactions and the documents required by banks
Rules on Monitoring Currency Transactions	Resolution of the National Bank Board of 10 April 2019 No. 64, reg. No. 18544	Registration of capital movement contracts, foreign accounts, reporting

⚠ The 2023 Rules on export-import currency control replaced the 2012 regime entirely. Any guidance still citing the 2012 National Bank resolution and its later versions describes a regime that no longer exists. Check the date of the instrument: the operative version of the Rules is the one amended to 1 March 2026.

Two 2026 statutes come into force in stages: the Law of 16 January 2026 No. 259-VIII from 19 March 2026, and the Law of 9 January 2026 No. 256-VIII from 11 July 2026. The first amended Articles 1, 6 and 7 of the currency law; the second takes effect later, so the wording has to be checked as at the date of the operation rather than the date of signature.

The Law of 16 January 2026 No. 259-VIII changed the terminology of the regime itself with effect from 19 March 2026: "registration of currency contracts, notification of accounts with foreign banks and registration of such accounts" was replaced by "assignment of registration numbers to currency contracts, submission of information on accounts with foreign banks and international financial organisations, and assignment of registration numbers to them".

Two consequences follow. First, the account regime now expressly covers not only foreign banks but international financial organisations. Second, much of the available material — and some explanatory pages — still uses the earlier wording of "registration" and "notification": these are the same procedures in substance, but a citation should reference the version currently in force.

Three regimes, and how not to confuse them

The regimes differ in subject matter, threshold and the authority they report to. They are routinely conflated, and the consequences are not the same.

Regime	Subject matter	Threshold	Where to apply
Export or import registration number	Export or import currency contract with a non-resident	Above USD 50,000	The authorised bank servicing the account
Registration of a capital movement contract	Contracts under which capital movement operations are carried out	Above USD 500,000	Territorial branch of the National Bank
Notification of a foreign bank account	A resident legal entity\u2019s account with a foreign bank	No threshold	Territorial branch of the National Bank
Bank monitoring	Clients\u2019 currency transactions	From USD 50,000 — regular bank reporting	A duty of the bank, not the client

The registration requirement for capital movement contracts does not extend to authorised banks or to branches and representative offices of foreign organisations.

The contract registration number: the USD 50,000 threshold

An export or import currency contract requires registration and the assignment of a registration number where the contract value exceeds USD 50,000 equivalent. The rule is in paragraph 10 of the Rules on Export-Import Currency Control.

Where the contract does not state a value at the date it is concluded, it is treated as a contract requiring registration regardless of the volumes actually transacted.

This closes the familiar "framework agreement without a value plus specifications" structure: the absence of a stated amount does not take the contract outside the regime — it brings it inside automatically.

Where the contract is denominated in a currency other than the US dollar and contains no exchange rate to the dollar, the equivalent is determined at the official rate on the date the contract is signed, or, failing that, on the date it takes effect.

The registration number is an identification number assigned to a currency contract for the purpose of controlling the repatriation requirement and maintaining records and reporting. Only one registration number is assigned per contract.

When to apply for a registration number

The general rule is that the exporter or importer applies before either party begins performing the contract. That is paragraph 12 of the Rules.

Where the non-resident performs first — money arrives, goods are delivered, works or services are performed, partially exclusive intellectual property rights are granted, or property is leased to the resident — the resident must apply before those items come into its possession.

Where a claim against a non-resident, or a debt to a non-resident, is taken over by assignment or transfer, the application is made no later than 30 calendar days after the day of that transfer, and in any event before either party begins performance.

A separate carve-out applies to aviation: where the non-resident performs first abroad under an import contract for works or services and one party is a resident holding an air operator certificate, the application may be made within 90 calendar days after the non-resident's performance, but no later than the date the resident begins performing.

⚠ Missing the application deadline is a standalone trigger for the bank to issue a bank control record, even where the proceeds arrived on time and in full. It is a separate breach, independent of whether repatriation actually occurred.

How to obtain the number, and which bank handles it

To obtain a registration number, the exporter or importer files with the authorised bank or a territorial branch of the National Bank an application in the prescribed form to place the contract under currency control, together with the original or a copy of the contract. Where the contract is in a foreign language, a Kazakh or Russian translation is attached.

The bank's authorised officer registers the contract in the registration journal within 2 business days of the day the required documents are filed.

The registration number, the date of assignment, the bank's name and the exporter's or importer's details are endorsed on the first or last page of the original or copy of the contract and certified by the officer's signature. Under electronic document flow the bank assigns the number with an electronic signature and notifies the client in free form.

Where the application goes depends on the settlement route. If all payments run through an account with an authorised bank, or partly through a foreign account, registration is with the authorised bank servicing the account. If settlements run exclusively through a foreign bank account in the cases permitted by subparagraph 1) of paragraph 3 of Article 9 of the Law, registration is with the territorial branch of the National Bank at the resident's location.

The application must state the repatriation period, calculated by the resident under the method set out in Annex 1 to the Rules.

A bank may refuse to assign a number on three grounds: the contract contains terms contrary to the currency legislation; the applicant's signature does not match the specimen; or grounds arising under the anti-money-laundering legislation. Preparing the contract documentation to meet those requirements in advance is work for UPPERSETUP legal services.

When no registration number is required

Paragraph 19 of the Rules sets out a closed list of six situations in which no registration number is needed.

•     movement of cash across the Kazakhstan border by the National Bank or an authorised bank;

•     export of precious metals by the National Bank or an authorised bank for placement on their metal accounts with foreign banks;

•     import of precious metals into Kazakhstan by the National Bank or an authorised bank;

•     contracts paid for out of state external loans of Kazakhstan or loans guaranteed by the state;

•     contracts concluded by state institutions and state enterprises making payments through divisions of state bodies;

•     contracts concluded by an authorised bank or other resident financial organisation with non-residents for the provision of services.

An ordinary commercial company falls into none of them. There is no sectoral relief — none for IT, consulting or the export of services.

The repatriation requirement: what the resident must actually secure

The repatriation requirement is the resident's duty to ensure that national and/or foreign currency is credited to bank accounts with authorised banks. The requirement itself sits in Article 9 of Law No. 167-VI; the control procedure is in the Rules.

The repatriation period is the time within which the exporter or importer must satisfy the requirement. It is calculated by the exporter or importer itself, based on how the parties are to perform under the contract.

The Rules provide three ways of computing the period, and which applies depends on the shape of the deal:

•     from the date of export to the date the currency is received in payment for the export;

•     from the date of payment under an import contract to the date the unused advance is returned, where the non-resident fails to perform or performs only in part;

•     from the date of payment under an import contract to the date of import, where the contract sets no deadline for returning an unused advance.

The date of export or import is defined in paragraph 4 of the Rules and differs by transaction type: for goods placed under a customs procedure, the release date; within the EAEU, the date the goods are taken on account for imports and the invoice date for exports; for works and services, the date the supporting documents are signed or the date the invoice for work actually performed is issued.

⚠ The most exposed structure is a services contract with no acceptance acts and no invoicing. For it, the operative date is the date performance begins under the contract terms. In practice this means the repatriation clock starts earlier than the business expects, and the period has to be worked out while the contract is being drafted, not after payment falls due.

The duty to report circumstances affecting the period

If the repatriation period is breached, a separate procedural duty applies — one businesses frequently do not know about.

Information and documents, including addenda to the contract, evidencing circumstances that affect the timing and conditions of performance, must be filed with the bank of registration no later than the last day of the month in which the repatriation period expires, where the non-resident's unperformed obligations exceed USD 50,000 equivalent. This wording of paragraph 17 has applied since 1 January 2026.

Missing that deadline is the third standalone trigger for a bank control record, alongside failed repatriation and a late application for the registration number.

The repatriation period can be changed by filing a free-form application stating the new period. The grounds are: the period originally stated does not match the contract terms or was miscalculated; there are addenda, a court or arbitral decision, or a document from a foreign authority showing the non-resident is in liquidation or bankruptcy; or force majeure has occurred.

Where force majeure applies, or where a court decision or foreign authority document sets no specific deadline, the repatriation period is extended by no more than 3 years.

Monitoring: which bank the money must move through

Payments under a contract with a registration number are made through the authorised bank that registered it — paragraph 43 of the Rules.

Where money under such a contract arrives at a different authorised bank, that bank credits it to the client's account and transfers it to the bank of registration no later than the next business day, on the exporter's or importer's instruction.

The instruction must be accompanied by a copy of the contract page bearing the registration number endorsement, or a copy of the notice of its assignment. Its absence is a routine cause of stuck payments.

Contracts between USD 10,000 and USD 50,000 inclusive need no registration number but are subject to bank monitoring. Where the total received or sent under such contracts exceeds USD 100,000 in a reporting month, the bank reports it to the National Bank by the 15th of the following month, and the data passes to the state revenue authority.

This disposes of the common belief that "below USD 50,000 there is no control". Below the threshold there is no registration number, but there is monitoring and onward reporting to the tax authority once turnover accumulates.

Where settlements run through a foreign bank account, the exporter or importer files monthly, by the 20th of the month following the reporting period, information on performance in the prescribed form together with statements from the foreign account.

The bank control record and what follows it

A bank control record is the bank's notification that an indicator of breach exists; it starts the state revenue authority's procedures.

The bank sends the record to the National Bank by the 15th of the month following the month the repatriation period expired, in three cases: the period has expired and the non-resident's unperformed obligations exceed USD 50,000; the deadline for applying for a registration number was missed; or the deadline for reporting circumstances affecting performance was missed.

The National Bank passes the record to the state revenue authority within 1 business day. The territorial division then has 3 business days to reconcile data from customs declarations, goods import statements and electronic invoices across the two information systems.

Within 5 business days of receiving the record, the territorial division sends the resident a request for written explanations and for documents evidencing the non-resident's performance. The response is due within the period stated in the request, and in any event no later than 15 business days after the day the request is received.

Following an inspection under Article 20-1 of Law No. 167-VI, which governs how the state revenue authority conducts repatriation control, that authority determines whether the resident's acts or omissions disclose a breach carrying liability.

Removing a contract from registration

A contract is removed from registration once control procedures are complete and one of the grounds in paragraph 26 of the Rules applies. The list runs to 23 items.

The principal grounds are: full performance by the parties; return of goods, advances or property; no performance for one calendar year from the last date of performance where the outstanding balance does not exceed USD 50,000; a court decision or foreign authority document on the non-resident's liquidation or bankruptcy; liquidation of the resident with no successor; and the expiry of 3 years after the contract was placed on separate accounting.

Removal is made on the resident's free-form application within 5 business days of its receipt with supporting documents. On several grounds removal happens without any application — for example on the non-resident's liquidation, where there has been no performance for a year after the number was assigned, or where the bank has terminated the business relationship.

The file on a deregistered contract is kept by the bank for 5 years after removal. The bank notifies the resident of the removal within 3 business days.

Registration can also be reinstated: it resumes on the resident's application without a new number being assigned, and where more than 5 years have passed since removal, a copy of the contract bearing the earlier endorsement is filed as well.

Separate accounting at the state revenue authority

Separate accounting is the regime a contract enters when control through a bank is no longer possible. The grounds are in paragraph 52 of the Rules.

•     a court decision against the resident in administrative proceedings for failure to meet the repatriation requirement, with no movement of money or goods under the contract;

•     the resident's absence from its registered location;

•     a decision by the authorised bank to terminate the business relationship with the resident;

•     a final court decision on the compulsory liquidation of the bank of registration.

A contract stays on separate accounting for up to 3 years, and the territorial division of the state revenue authority requests annually what steps the resident has taken to satisfy the repatriation requirement.

The third ground deserves attention: a bank terminating the relationship under anti-money-laundering rules moves the contract out of the banking perimeter and into the tax one. On receiving the bank's notice the resident has 30 calendar days to move to another authorised bank, approaching banks in turn until one accepts. The practical side of bank selection is covered in Opening a Bank Account in Kazakhstan for a Foreign Company.

Capital movement: the USD 500,000 threshold

A capital movement currency contract is subject to registration where its value exceeds USD 500,000 equivalent. Where no value is stated, the contract is subject to registration.

Registration means assigning a number by endorsement on the first page of the contract — no certificate is issued — followed by the resident filing information and reports with the territorial branch of the National Bank under that number.

Registration takes 5 business days from the day the complete document set is filed. Reporting on a registered contract is quarterly, by the 10th day of the month following the reporting period.

For a foreign-owned company this is the most consequential regime after export-import control. Capital movement captures shareholder loans from a non-resident, contributions to charter capital, and the acquisition of participations and real estate abroad — precisely the operations that typically fund a Kazakhstan subsidiary.

⚠ The distinction that matters. The USD 50,000 and USD 500,000 thresholds belong to different regimes and do not substitute for one another. A supply contract for USD 60,000 requires an export-import registration number; a USD 60,000 loan from the parent requires no capital movement registration. The reverse error is just as common.

Foreign accounts and the position of foreign-owned structures

Notification of foreign bank accounts is made by resident legal entities by applying for a registration number for the account before any transaction is carried out through it.

Individuals are not required to notify the opening of accounts with foreign banks.

Authorised banks and branches or representative offices of foreign organisations are outside both the capital movement registration requirement and the foreign account notification requirement.

That carve-out shapes the choice of presence. A branch or representative office of a foreign company in Kazakhstan need not register capital movement contracts or notify foreign accounts, whereas an LLP with a foreign shareholder must, because it is a resident. Under export-import control, however, a branch of a resident is named expressly in the definition of exporter or importer, and no relief applies there.

A further structure specific to groups is the participation of a resident as a third-party payer. The Rules permit it in four cases: a loan by the resident third party to the non-resident; payments under an import contract within a joint activity or agency agreement; set-off of claims; and third-party financing of the acquisition of goods, works and services.

The third party's bank makes the payment only after the registration number has been assigned by the bank servicing the contract, and only where the third party has given written consent to disclose payment information to the bank of registration.

Where a claim is assigned or a debt transferred between residents for more than USD 50,000, the assignment or transfer agreement itself requires a registration number. Structuring a Kazakhstan entity inside an international group is covered in Kazakhstan + UAE: the Dual Structure, and the corporate mechanics by UPPERSETUP company registration services.

Liability: which provisions of the Administrative Code apply

Liability for currency breaches sits in the Code of the Republic of Kazakhstan on Administrative Offences, across three provisions.

Provision	Offence
Article 244	Breach of the procedure for obtaining a registration number for a currency contract or a foreign bank account and for filing information, documents and reports
Article 251	Failure to meet the requirement to repatriate national and/or foreign currency
Article 252	Carrying out currency transactions in breach of the currency legislation of Kazakhstan

⚠ A recurring error in commentary is to cite Article 264 as the currency control provision. Article 264 concerns breaches of securities market legislation by the unified accumulative pension fund, voluntary accumulative pension funds and investment portfolio managers, and has nothing to do with currency transactions.

Failure to meet the repatriation requirement under Article 251 carries a fine of 20 per cent of the amount of national and/or foreign currency not credited. The offence covers both export proceeds that never arrive and advances paid under an import contract that are not returned when the non-resident fails to perform.

A note to Article 251 caps the offence by reference to the threshold: liability arises only where, after the repatriation period expires, the amount not credited exceeds the threshold above which an export or import contract is subject to repatriation control — that is, USD 50,000.

Article 251 applies in the version introduced by the Law of 2 July 2018 No. 168-VI, as amended by the Laws of 12 July 2023 No. 24-VIII and 10 January 2025 No. 155-VIII.

Article 244: a warning for the first breach

Article 244 is built quite differently, and commentary usually gets it wrong. A first breach carries a warning, not a fine; a monetary sanction applies only on a repeat within a year of the penalty being imposed.

Offence under Article 244	First breach	Repeat within a year
Late application for an export or import registration number (part 1)	Warning	10 MCI for individuals, 20 MCI for small business and non-profits, 50 MCI for medium, 100 MCI for large
Late application for a capital movement or foreign account registration number (part 1-1)	Warning	The same amounts as under part 1
Late submission of information and documents on circumstances affecting the repatriation period (part 3)	Warning	20 MCI for small business and non-profits, 50 MCI for medium, 100 MCI for large
Late submission of a report on a capital movement contract or a foreign account (part 5)	Warning	5 MCI for individuals, 10 MCI for small business and non-profits, 20 MCI for medium, 40 MCI for large
Filing an incomplete or inaccurate report (part 7)	Warning	The same amounts as under part 5

Article 252, in the part covering prohibited currency transactions between residents and settlements outside bank accounts where the law requires them, likewise carries a warning.

According to the State Revenue Committee, in the first half of 2026 some 1,116 administrative protocols were drawn up under Article 244, while 141 participants in foreign economic activity were penalised under Article 251, with fines totalling KZT 15.3 billion.

The gap between those two figures follows from how the provisions are built. The thousand-plus protocols under Article 244 are largely warnings for procedural slips, while the entire monetary exposure sits in Article 251, where the sanction tracks the unrepatriated proceeds: the average recovery in that statistic exceeds KZT 100 million per offender.

The practical reading is that procedural discipline is cheap exactly once. A first late registration ends in a warning, a second within the year costs money, and a failed repatriation costs 20 per cent of the sum outright. Handling a dispute with the state revenue authority and preparing the explanations is work for UPPERSETUP legal services.

An eight-step plan for a business trading cross-border

•     Step 1. Classify the contract before signing. Export or import means the registration-number track with a USD 50,000 threshold. Capital movement means the registration track with a USD 500,000 threshold.

•     Step 2. Check whether a contract value is stated. The absence of a stated value pulls the contract into the registration regime on both tracks.

•     Step 3. Calculate the repatriation period under Annex 1 to the Rules and record it in the application. For services contracts without acceptance acts, pin down the date performance begins.

•     Step 4. Apply for the registration number before either party performs. On an assignment or debt transfer, within 30 calendar days but before performance begins.

•     Step 5. Settle through the bank of registration. If money lands at another bank, instruct the transfer and attach a copy of the contract page bearing the endorsement.

•     Step 6. Track the month the repatriation period expires. Where unperformed obligations exceed USD 50,000, file the supporting documents with the bank by the last day of that month.

•     Step 7. If settling through a foreign account, report by the 20th of each month, with statements attached.

•     Step 8. Deregister contracts promptly by application with supporting documents; the bank removes registration within 5 business days.

This is a continuing operational cycle rather than a one-off procedure; the calculation side and the document flow with the bank are covered by UPPERSETUP accounting services.

Common mistakes and what they cost

•     A framework contract with no stated value. The business assumes the USD 50,000 threshold has not been crossed, while the Rules treat a contract without a value as requiring registration outright. The result is a missed application deadline and a bank control record.

•     Counting the repatriation period from the payment date. The period runs from the date of export, or from the date of payment under an import contract — not from whichever point suits the business. For services without acts, it runs from the date performance begins.

•     Assuming there is no control below USD 50,000. Contracts between USD 10,000 and USD 50,000 are monitored by the bank, and once monthly turnover exceeds USD 100,000 the data goes to the state revenue authority.

•     Settling outside the bank of registration. Money received at another bank must be transferred to the bank of registration by the next business day, with a copy of the endorsed contract page attached.

•     Staying silent when the repatriation period slips. Failing to file the supporting documents by the last day of the month of expiry is a separate breach, distinct from the repatriation failure itself.

•     Ignoring a bank's termination notice. Thirty calendar days are allowed to move to another authorised bank; inaction pushes the contract onto separate accounting at the state revenue authority for up to 3 years.

•     Conflating the USD 50,000 and USD 500,000 thresholds. They are different regimes with different counterparties: the bank for exports and imports, the National Bank's territorial branch for capital movement.

Who needs specialist review, and when

Currency compliance in Kazakhstan is manageable in-house for a business with a handful of standard contracts, settlements through one bank and predictable delivery schedules. The workload reduces to applying for the registration number on time and computing the repatriation period correctly.

Review is warranted in five situations: exporting services without acts or invoices, where the date performance begins drives the whole repatriation period; funding a Kazakhstan company by non-resident loans near the USD 500,000 threshold; settling through foreign bank accounts, which adds monthly reporting; assigning claims or transferring debt within a group; and receiving a bank's notice of termination, where the clock runs in calendar days.

Adjacent tax questions are covered in Kazakhstan's Tax System 2026, and the corporate side in LLP (TOO) in Kazakhstan for Foreigners.

Frequently asked questions

At what value does a contract need a registration number in Kazakhstan?

An export or import currency contract requires registration where its value exceeds USD 50,000 equivalent. Where no value is stated in the contract, it requires registration regardless of the volumes actually transacted.

When must the application for a registration number be made?

Before either party begins performing the contract. Where a claim or debt is taken over by assignment or transfer, within 30 calendar days of that transfer but before performance begins.

What is the repatriation requirement and how is the period calculated?

It is the duty to ensure currency is credited to accounts with authorised Kazakhstan banks. The period is calculated by the resident under Annex 1 to the Rules: from the date of export to receipt of payment, or from the date of payment under an import contract to the return of the advance or to the date of import.

Is a registration number needed for a USD 30,000 contract?

No, the threshold is not met. But contracts between USD 10,000 and USD 50,000 inclusive are monitored by the bank, and where the total received or sent in a month exceeds USD 100,000, the bank reports to the National Bank and the data passes to the state revenue authority.

At what value is a capital movement contract registered?

Registration applies where the contract value exceeds USD 500,000 equivalent. The application goes to the territorial branch of the National Bank and registration takes 5 business days from the day the complete document set is filed.

Must a branch of a foreign company in Kazakhstan notify its foreign accounts?

No. Capital movement registration and foreign account notification do not extend to authorised banks or to branches and representative offices of foreign organisations. Resident legal entities, including LLPs with foreign shareholders, are subject to both.

Who enforces the repatriation requirement in Kazakhstan?

Since 1 January 2024 the currency control function relating to repatriation has been exercised by the state revenue authorities — the State Revenue Committee of the Ministry of Finance and its territorial divisions. Authorised banks act as currency control agents.

Can the repatriation period be extended?

Yes, on a free-form application where grounds exist: an incorrect original calculation, addenda to the contract, a court or arbitral decision, a foreign authority document on the non-resident's liquidation or bankruptcy, or force majeure. Where force majeure applies or no specific deadline appears in the documents, the extension is capped at 3 years.

What is the penalty for failing to repatriate proceeds in Kazakhstan?

Article 251 of the Code on Administrative Offences imposes a fine of 20 per cent of the amount of national or foreign currency not credited. Liability arises only where the amount outstanding after the repatriation period expires exceeds USD 50,000. For procedural breaches under Article 244, a first breach carries a warning and a repeat within a year attracts a fine of 5 to 100 monthly calculation indices depending on the offence and the size of the business.

Key takeaways

•     The framework is Law No. 167-VI of 2 July 2018 plus three National Bank instruments: the 2023 Rules on Export-Import Currency Control, Rules No. 40 on currency transactions and Rules No. 64 on monitoring.

•     A registration number is required where an export or import contract exceeds USD 50,000, and where the contract states no value at all.

•     The application is made before either party performs; on an assignment or debt transfer, within 30 calendar days but before performance begins.

•     The repatriation period is calculated by the resident; the bank registers the contract within 2 business days.

•     Documents on circumstances affecting the period are filed by the last day of the month the period expires, where unperformed obligations exceed USD 50,000.

•     Contracts between USD 10,000 and USD 50,000 are monitored; above USD 100,000 of monthly turnover the data reaches the state revenue authority.

•     Capital movement contracts are registered above USD 500,000, within 5 business days, with quarterly reporting by the 10th.

•     Branches and representative offices of foreign organisations are exempt from capital movement registration and foreign account notification.

•     Repatriation has been enforced by the state revenue authorities since 1 January 2024. Article 251 carries a fine of 20% of the amount not credited and applies only above the USD 50,000 threshold; under Article 244 a first breach is a warning, with fines of 5 to 100 MCI on a repeat within a year.

Summary 

Currency regulation in Kazakhstan rests on Law No. 167-VI of 2 July 2018 "On Currency Regulation and Currency Control". An export or import currency contract must be registered and given a registration number where its value exceeds USD 50,000 equivalent, or where no value is stated; the procedure is in the Rules on Export-Import Currency Control approved by joint Resolution of the National Bank Board of 29 September 2023 No. 78 and Order of 4 October 2023 No. 1054, in force since 1 January 2024. The application is made before either party begins performing, and within 30 calendar days where a claim or debt is taken over by assignment or transfer. The bank registers the contract within 2 business days. The repatriation period is calculated by the resident as the interval between the date of export and receipt of payment, or between payment under an import contract and the return of the advance or the date of import. Documents evidencing circumstances that affect the period are filed with the bank by the last day of the month in which the period expires, where the non-resident's unperformed obligations exceed USD 50,000. Contracts between USD 10,000 and USD 50,000 are subject to bank monitoring, and where monthly turnover exceeds USD 100,000 the data passes to the state revenue authority. A capital movement contract must be registered where its value exceeds USD 500,000; registration takes 5 business days and reporting is quarterly by the 10th. Resident legal entities must notify foreign bank accounts before transacting on them, while authorised banks and branches or representative offices of foreign organisations are exempt, and individuals need not notify at all. Since 1 January 2024 the repatriation requirement has been enforced by the state revenue authorities. Liability sits in the Code on Administrative Offences: Article 251 imposes a fine of 20 per cent of the amount of currency not credited, and applies only where the amount outstanding after the repatriation period exceeds USD 50,000, while under Article 244 a first breach of the procedural deadlines carries a warning and a repeat within a year attracts a fine of 5 to 100 monthly calculation indices depending on the offence and the size of the business.

Sources

•     Law of the Republic of Kazakhstan No. 167-VI of 2 July 2018 "On Currency Regulation and Currency Control" — Articles 2, 5, 9 and 13–17

•     Article 20-1 of Law No. 167-VI — repatriation control by the state revenue authority

•     Rules on Export-Import Currency Control in the Republic of Kazakhstan — joint Resolution of the National Bank Board of 29 September 2023 No. 78 and Order of the Deputy Prime Minister – Minister of Finance of 4 October 2023 No. 1054 (reg. No. 33512), as amended to 1 March 2026

•     Rules on Carrying Out Currency Transactions in the Republic of Kazakhstan — Resolution of the National Bank Board of 30 March 2019 No. 40 (reg. No. 18512)

•     Rules on Monitoring Currency Transactions in the Republic of Kazakhstan — Resolution of the National Bank Board of 10 April 2019 No. 64 (reg. No. 18544)

•     National Bank of the Republic of Kazakhstan — "Monitoring of currency transactions"

•     Code of the Republic of Kazakhstan on Administrative Offences — full text

•     Article 244 of the Administrative Code — breach of the registration number and reporting procedure

•     Article 251 of the Administrative Code — failure to meet the repatriation requirement

•     Article 252 of the Administrative Code — currency transactions in breach of the legislation

•     Law of the Republic of Kazakhstan of 16 January 2026 No. 259-VIII — amendments to the currency legislation effective 19 March 2026

•     State Revenue Committee — clarification on repatriation and enforcement statistics for the first half of 2026

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