Document from CIS Legislation database © 2003-2018 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF KAZAKHSTAN

of July 2, 2018 No. 167-VI ZRK

About currency control and currency exchange control

This Law governs the public relations connected with implementation of currency transactions, determines the purposes, tasks of currency control and currency exchange control.

Chapter 1. General provisions

Article 1. The basic concepts and terms used in this Law

1. In this Law the following basic concepts are used:

1) exchange point - specially equipped place for carrying out exchange transactions with cash foreign currency created by authorized organization or the authorized bank having the right to the organization of exchange transactions with cash foreign currency in the Republic of Kazakhstan based on the license of National Bank of the Republic of Kazakhstan or the laws of the Republic of Kazakhstan;

2) currency values:

foreign currency;

securities and payment documents which nominal is expressed in foreign currency;

the securities which do not have nominal issued by nonresidents of the Republic of Kazakhstan;

the affined ingot gold;

national currency, securities and payment documents which nominal is expressed in national currency, in cases of making of transactions with them between residents of the Republic of Kazakhstan and nonresidents of the Republic of Kazakhstan and between nonresidents of the Republic of Kazakhstan, and also their export (translation) from the Republic of Kazakhstan or import (transfer) to the Republic of Kazakhstan;

the securities which do not have nominal issued by residents of the Republic of Kazakhstan in cases of making of transactions with them between residents of the Republic of Kazakhstan and nonresidents of the Republic of Kazakhstan and between nonresidents of the Republic of Kazakhstan, and also their export from the Republic of Kazakhstan or import to the Republic of Kazakhstan;

3) currency transactions:

the transactions connected with transition of the property right and other rights to currency values, and also use of currency values as means of payment;

import, transfer and transfer to the Republic of Kazakhstan, and also export, transfer and transfer from the Republic of Kazakhstan of currency values;

transfer of currency values in trust management;

transfer of currency values based on the agreement on rendering broker services;

4) the currency agreement - agreements, constituent documents, including changes and (or) amendments to them, and also other documents, on the basis and (or) in pursuance of which currency transactions are performed;

5) accounting number - the identification number assigned to the currency agreement or the foreign bank account by National Bank of the Republic of Kazakhstan or authorized bank and intended for ensuring accounting and the reporting under currency transactions;

6) import - transfer by the nonresident of the Republic of Kazakhstan to resident of the Republic of Kazakhstan of goods, transfer partially the nonresident of the Republic of Kazakhstan to resident of the Republic of Kazakhstan of exclusive rights on intellectual property items, performance of works, rendering services, cession of property in lease by the nonresident of the Republic of Kazakhstan to resident of the Republic of Kazakhstan;

7) the affined ingot gold - the gold received as a result of refining and made in the form of measuring and standard ingots, relating to investment gold according to the Law of the Republic of Kazakhstan "About precious metals and gemstones";

8) authorized banks - the banks and the organizations performing separate types of banking activities created in the Republic of Kazakhstan (except for authorized organizations), and also the branches of foreign banks performing activities in the Republic of Kazakhstan which perform currency transactions, including according to orders of clients;

9) authorized organizations - the financial organizations of the Republic of Kazakhstan which are not banks and having the license of National Bank of the Republic of Kazakhstan for the organization of exchange transactions with cash foreign currency;

10) national currency:

the bank notes in the form of banknotes and coins of National Bank of the Republic of Kazakhstan which are in circulation and being legal means of payment in the territory of the Republic of Kazakhstan, and also withdrawn or withdrawn from circulation, but subject to exchange for the bank notes which are in circulation;

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