What is the Investment Tax Residency Programme?
The Investment Tax Residency Programme (ITRP, Programme) is aimed to attract foreign investments by issuing long-term investment visas to foreign nationals or stateless persons in return for investments in AIFC instruments, as well as providing Kazakhstan tax residency status subject to the applicants paying a fixed annual fee to the state budget
What are the benefits of the Programme?
- Tax exemptions on foreign income and revenue from investments in the Programme
- “90-days residency rule” for tax residency in Kazakhstan (as opposed to regular "183-days rule")
- Affordable investment amount threshold
- High-liquidity investment instruments
- 5-year visa for the investor and his/her immediate family
Unlimited entry to Kazakhstan
What is the minimum investment volume?
The minimum investment volume for the Programme is 60,000 US dollars or an equivalent amount in another currency
What are the investment options?
At the moment, the only available investment option is investments in securities listed on the Astana International Exchange (AIX).
What is Astana International Exchange (AIX)?
AIX is a market institution in the AIFC providing domestic and international issuers (both private and government-controlled) and investors a modern well-regulated exchange platform to access the capital markets. AIX shareholders are AIFC, Goldman Sachs, Shanghai Stock Exchange, Silk Road Fund, and NASDAQ which provides an AIX trading platform.
Why AIX?
Astana International Exchange (AIX) is a part of the Astana International Financial Centre.
The main benefits arising from AIX listing include, but are not limited to:
- the special legal/regulatory regime based on the principles of common law
- tax benefits for investors – no Kazakh tax on capital gains and/or interest/dividend payments on AIX listed securities
- issue and settlement in any currency
- Euroclear accessibility
- issuers must comply with disclosure requirements, which make the company more transparent for investors, and with international-standard continuing
obligations for investor protection and effective operation of the market
Can I invest in any company listed on AIX?
No, to participate in the Programme, the applicant must invest in eligible securities listed on AIX`s website.
Can I purchase securities on other platforms?
Applicant can purchase eligible securities on other platforms. However, to be eligible to obtain the investment residence certificate, the applicant must transfer funds to the AIX account through any of the AIX CSD Participants (brokers).
Can I withdraw investments in securities?
Investment residents must keep investments for the entire period of the validity of the investment residence certificate unless s/he decides to exit the Programme or replace investment instruments/types of investment instruments as per the Regulations on the Programme.
Can I use cryptocurrency to make investments?
No, cryptocurrency is not an official financial instrument under the laws of the Republic of Kazakhstan
What is the legal basis of the Programme?
The AIFC Regulations on AIFC Investment Tax Residency Programme is the underlying document regulating the Programme.
What is the Office?
The Office means the Investment Tax Residency Programme Office administering and implementing the Programme. AIFC Markets, a subsidiary of the AIFC Authority performs the functions of the Office.
Can an investor exit from the Programme before the expiration of the investment residence certificate?
An investment resident has the right to terminate the participation in the Programme before the expiration of the investment residence certificate by submitting a respective notice of termination to the Office.
In case of early termination of the participation in the Programme, the Office sends a request to the relevant state bodies of the Republic of Kazakhstan to cancel the investor visa/temporary residence permit of the investment resident, as well as the investment resident’s family members. Provided that, the investment resident and the investment resident’s family members are obliged to leave the Republic of Kazakhstan within the period specified by the acting migration legislation of the Republic of Kazakhstan.
Who can apply to participate in the Programme?
A natural person who satisfies the following conditions:
the person is a foreign national or a stateless person
the person is 18 years old or older
the person has not been a tax resident of the Republic of Kazakhstan within the last 20 years preceding the initial application to participate in the Programme
the person has not been a citizen of the Republic of Kazakhstan within the last 20 years preceding the initial application to participate in the Programme
Do I need to pay any processing fee?
Yes, by accepting the General Terms and Conditions, the applicant accepts the obligation to pay any commissions, or fees in favour of the Office.
Main Applicant only: USD 7,750
Main Applicant + (1) Spouse: USD 11,375
What is the general process of participation in the Programme?
1. Choose an authorized agent and submit an online application
2. Pay the application processing fee
3. Pass a due diligence check
4. Invest a minimum of 60,000 US Dollars in the approved investment instrument
5. Apply for an investor visa/ temporary residence permit
6. Reside in Kazakhstan for 90 days to apply for a tax residency certificate (optional)
7. Pay the annual fee (7,000 MCI) to the state budget for issuing a tax residency certificate (optional)
Can I apply directly to the Office?
No, applying for the Programme can only be done through the Authorized Agents
Who is an Authorized Agent?
Agent accredited by the AIFC Investment Tax Residency Office and authorized to act on behalf of the applicant in relation to an application
I have been approached by an Agent. Are they affiliated with the Kazakhstan Investment Tax Residency Programme Office?
To ensure that an Agent is accredited by the Office, please refer to our listing on the website. We do not cooperate with any other Agents apart from the ones listed on our official website
What language should my supporting documents be in?
All documents supporting the application to participate in the Programme must be submitted either in Kazakh, English or Russian.
In case the language of the supporting document is not Kazakh, English or Russian, the applicant must provide the original or certified copy of the document in the original language (in conformity with all relevant requirements for the format), as well as the authenticated translation to the Kazakh, English or Russian.
Please note, that to apply for an investor visa (A5) or temporary residence permit and tax residency certificate, all documents must be submitted to the state bodies either in Kazakh or Russian
Can I follow up on the status of my application?
Yes, you can check the status of your application through your Agent
Where can I find the forms to apply for the Programme?
Application forms can be obtained from our Authorized Agents
Who is considered as dependent under one application?
The following individuals are considered as dependent (immediate family members) of the applicant:
- a spouse (aged 18 years old or older) who is married to the relevant person; and
- a child, including an adopted child (under 18 years old) of the applicant
How does the Office decide who will be accepted to participate in the Programme?
The Office collaborates with an independent due diligence service provider who conducts detailed research on an applicant and dependents via multiple sources, including but not limited to:
intelligence assessment
passports verification
ongoing political exposure
adverse media
sanctions monitoring
on the applicant, his/her primary business and dependents.
Besides, the applicant must pass the tax residency and citizenship check by the state bodies of the Republic of Kazakhstan. Once the checks have been completed, the Office draws a decision on the applicant
What if I get rejected?
Our Authorized Agents conduct a pre-approval check to prevent a possible rejection before onboarding you as a participant in the Programme. By working with you and asking the correct questions the Agents will make sure to find out if there is anything that might raise red flags before your application is submitted.
Please note that before receiving an investor visa/temporary residence permit, the applicant must pass the final check by the state bodies of the Republic of Kazakhstan to ensure a clean criminal history.
The Office is not liable to the investment resident for the refusal of the state bodies of the Republic of Kazakhstan to issue an investor visa, temporary residence permit, or a tax residence certificate
What if I come from a politically unstable country?
We treat applicants as individuals and their countries of origin as circumstantial, but the Office will try to foresee problems like that and warn you of them
Do I need to visit the country?
You can apply for an investor visa from outside the territory of Kazakhstan at the respective Embassy/Consulate. However, a temporary residence permit must be obtained within Kazakhstan.
Also, please note that tax residency can be obtained only by the investment resident personally within Kazakhstan. The investment resident must stay in Kazakhstan for at least 90 calendar days (including days of arrival and departure) in any consecutive twelve-month period ending in the current tax period
Are there any restrictions for investor visa recipients in Kazakhstan?
Yes. The investment visa holder cannot be employed by any other company in AIFC or Kazakhstan unless s/he is not the manager and/or Deputy’s head and/or head of the structural unit of the legal entity engaged in investment activity on the territory of the Republic of Kazakhstan.
Dependents of the main recipient of the investment visa (A5) do not have the right to carry out labor, religious, missionary activities, and/or participate in the activities of a religious association unless otherwise provided by the legislation of the Republic of Kazakhstan
Can I get an investment visa/temporary residence permit without getting a tax residency certificate?
Yes, you can
What is the difference between an investor visa and a temporary residence permit?
Temporary Residence Permit (TRP) is a document issued to foreigners or stateless people temporarily staying in Kazakhstan. The TRP replaces visas of the appropriate category for citizens of the EAEU and CIS countries. The issuance of the TRP is available only within the territory of Kazakhstan and for the citizens of Azerbaijan, Armenia, Russia, Tajikistan, Kyrgyzstan, Belarus, and Uzbekistan.
Other applicants shall obtain an investor visa and can apply both within and outside of Kazakhstan
Can I apply for an investor visa if I am already in Kazakhstan?
Yes, an A5 investor visa can be issued for the head or deputy head, or other official person doing investment activities in Kazakhstan. A change of visa of a certain category to А5 investor visa within Kazakhstan is allowed only for the following categories:
В3 - business visa
В10 - visa for a private trip
С3, С4, С5 - employment visa
С10 - visa for a private trip (ethnic kazakhs), as per migration legislation of Kazakhstan.
Please note that an applicant must not be a tax resident of Kazakhstan before applying to the Programme
Can I work with a temporary residence permit?
Immigrants temporarily staying in the Republic of Kazakhstan are not allowed to work without appropriate permits issued by the local executive body, unless otherwise provided by the legislation of the Republic of Kazakhstan in the field of population migration and/or international treaties ratified by the Republic of Kazakhstan
Can my family members apply for investor visa/temporary residence permit?
The temporary residence permit (TRP) can also be issued to close family members of the applicant for the same period as the applicant's registration. For registration of documents for the spouse, a marriage certificate; for children – a birth certificate must be provided. The documents must be provided in a notarized copy with a mark of legalization/apostille, depending on the country of issue of the document.
Children under the age of 16 do not need a TRP.
Can I get tax residency without getting an investor visa/temporary residence permit?
To be able to reside in Kazakhstan without any restrictions, you should obtain an investor visa or temporary residence permit
How can I apply for Tax Residency?
You need to stay within the territory of the Republic of Kazakhstan for at least 90 calendar days (including days of arrival and departure) in any consecutive twelve-month period ending in the current tax period.
After you pay 7000 MCI (1 MCI is KZT 3,450 in 2023) to the state budget, you must submit the full package of required documents to the tax authority in Kazakhstan with the tax application for confirmation of residency
What is the tax regime in Kazakhstan?
PIT – 10%
VAT – 12%
CIT – 20%
Kazakhstan residents are taxed on their worldwide income, however, if the person obtained tax residency under the Programme, the person is exempted from taxes on worldwide income and the income derived from investing in AIFC instruments.
Besides, individuals are considered residents for tax purposes if they are present in the country for not less than 183 days in any consecutive 12-month period ending in the current tax year. Under the Programme, the resident must be present in the country not less than 90 days in any consecutive 12-month period ending in the current tax year
What is MCI?
The monthly calculation index (MCI) for calculating benefits and other social payments, as well as the application of penalties, taxes and other payments is determined yearly in accordance with the legislation of the Republic of Kazakhstan.
MCI for 2023 is KZT 3,450
