RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN

of April 10, 2019 No. 64

About approval of Rules of implementation of currency transactions in the Republic of Kazakhstan

According to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of March 19, 2010 "About the state statistics" and of July 2, 2018 "About currency control and currency exchange control" the Board of National Bank of the Republic of Kazakhstan DECIDES:

1. Approve the enclosed Rules of monitoring of currency transactions in the Republic of Kazakhstan.

2. To department of paying balance and currency control (Kuandykov A. A.) in the procedure established by the legislation of the Republic of Kazakhstan to provide:

1) together with Legal department (Sarsenov N. V.) state registration of this resolution in the Ministry of Justice of the Republic of Kazakhstan;

2) within ten calendar days from the date of state registration of this resolution its direction in the Kazakh and Russian languages in the Republican state company on the right of economic maintaining "The republican center of legal information" for official publication and inclusion in Reference control bank of regulatory legal acts of the Republic of Kazakhstan;

3) placement of this resolution on official Internet resource of National Bank of the Republic of Kazakhstan after its official publication;

4) within ten working days after state registration of this resolution submission to Legal department of data on execution of the actions provided by subitems 2), 3) of this Item and Item 3 of this resolution.

3. To management on consumer protection of financial services and external communications (Terentyev A. L.) provide within ten calendar days after state registration of this resolution the direction it to the copy on official publication in periodic printing editions.

4. To impose control of execution of this resolution on the vice-chairman of National Bank of the Republic of Kazakhstan Smolyakov O. A.

5. This resolution is subject to official publication and becomes effective since July 1, 2019.

It is approved Ministry of Finance of the Republic of Kazakhstan

It is approved Ministry of Foreign Affairs of the Republic of Kazakhstan

It is approved Committee according to the statistics Ministries of national economy of the Republic of Kazakhstan

Approved by the Resolution of Board of National Bank of the Republic of Kazakhstan of April 10, 2019 No. 64

Rules of monitoring of currency transactions in the Republic of Kazakhstan

Chapter 1. General provisions

1. Rules of monitoring of currency transactions in the Republic of Kazakhstan (further - Rules) are developed according to the laws of the Republic of Kazakhstan of March 30, 1995 "About National Bank of the Republic of Kazakhstan", of March 19, 2010 "About the state statistics", of July 2, 2018 "About currency control and currency exchange control" (further - the Law on currency control and currency exchange control) and determine procedure of monitoring of currency transactions in the Republic of Kazakhstan.

2. The concepts and terms used in Rules are applied in the values specified in the Law of the Republic of Kazakhstan of January 7, 2003 "About the electronic document and the digital signature" and in the Law on currency control and currency exchange control.

For the purposes of Rules also following concepts are used:

1) securities of nonresident issuers - the financial instruments recognized by securities according to the legislation of the Republic of Kazakhstan and (or) the country of the issuer including depositary receipts which underlying asset are securities of nonresident issuers;

2) the register of accounting numbers - the list of the existing accounting numbers assigned by National Bank of the Republic of Kazakhstan (further - National Bank) to currency agreements, on the basis and (or) in pursuance of which capital movement operations are performed (further - currency agreements on capital movement), and to foreign bank accounts, and also the existing numbers of registration certificates, certificates on the notification;

3) investment object - the legal entity, mutual investment fund, shares, shares which shares are acquired (are acquired), and also the legal entity, particular partnership, consortium in which property are brought (are brought) property fees. In case of carrying out transactions with depositary receipts investment object is the issuer of the security which is their underlying asset;

4) the investor - the physical person or legal entity to which passes (passed) the property right to investment object;

5) the program of options for securities of nonresident issuers for workers - the program according to which the worker of legal resident person acquires the stipulated number of securities of the nonresident issuers who are investors of this legal entity and (or) investors of investors of this legal entity;

6) own transactions - the transactions of the resident which is the party of the currency agreement, performed on its own behalf;

7) securities of resident issuers - the financial instruments recognized by securities according to the legislation of the Republic of Kazakhstan including depositary receipts which underlying asset are securities of resident issuers;

8) the registration certificate - the document issued by National Bank in case of registration of the currency agreement before enforcement of Rules and not invalid;

9) the certificate on the notification - the document issued by National Bank on the currency agreement or the foreign bank account before enforcement Governed also not invalid.

3. Assignment of accounting number is performed without any obligations from National Bank on the corresponding transaction of capital movement, the foreign bank account. Availability of accounting number is not the basis for discharge for violation of requirements of regulatory legal acts of the Republic of Kazakhstan.

4. Authorized banks provide to National Bank information required according to Rules (documents, data, reports), electronic method by means of use of transport system of the guaranteed delivery of information with the cryptographic remedies providing confidentiality and authenticity of transmitted data or by means of use of information systems with observance of procedures of confirmation by the digital signature.

The physical persons and legal entities which are residents (except for authorized banks), provide to National Bank information required according to Rules (documents, data, reports), on paper or electronic method by means of use of information systems with observance of procedures of confirmation by the digital signature.

In case of submission of one report different methods are considered date of submission of the report early of dates.

4-1. In case of submission of documents for accounting registration on paper, receipt of the original or copy of leaf of the currency contract with accounting number is performed in case of presentation by the receiver of the identity certificate or confirmation (identification) of the personality by means of service of digital documents.

5. The document confirming approach of the circumstances provided by the subitem 9) of part one of Item 16 and the subitem 4) of part one of Item 23 of Rules is the judgment or the document of authorized state body of foreign state on registration of death, the announcement the dead, recognition incapacitated or is limited capable physical nonresident person, liquidation of legal nonresident person. If these documents are constituted in foreign language, then also their translation on Kazakh or Russian is represented.

6. If the term of submission of data, the report or document established by Rules and also accounting registration expires in non-working day, then end date of term of submission of data, the report or document, and also accounting registration the working day following it is considered. Date of submission of data, the report or paper document the date of receipt of data, the report or document by the addressee in case of representation is considered purposely or date of departure on postage stamp.

7. If Rules do not provide other, the provisions of Rules established concerning legal entities (except for authorized banks), extend concerning their branches and representations.

8. The register of accounting numbers is placed on official Internet resource of National Bank.

Chapter 2. Procedure for monitoring of currency transactions

Paragraph 1. Receipt of accounting numbers by residents for currency agreements on capital movement

9. The currency agreement on capital movement within which it is provided is subject to accounting registration:

1) receipt of property (money) to the Republic of Kazakhstan and (or) emergence of obligations at resident on return of property (money) to the nonresident for the amount exceeding 500 000 (five hundred thousand) dollars of the United States of America (further - the USA) in equivalent;

2) cession of property (money transfer) from the Republic of Kazakhstan and (or) origin at resident of requirements for return of property (money) by the nonresident of the amount exceeding 500 000 (five hundred thousand) US dollars in equivalent.

10. If in the currency agreement on capital movement the agreement amount is not specified date of its signing (in case of its absence - on the effective date), then the currency agreement on capital movement is considered as the agreement which is subject to accounting registration.

For the purposes of determination of distribution of accounting registration for the currency agreement on capital flow in which the amount of the agreement is expressed in other currency than US dollar, and there is no specifying on the exchange rate to US dollar, calculation of equivalent of the amount of the currency agreement in US dollars is perfromed with use of the market rate of currency exchange for signature date of the currency agreement (in case of its absence - for date of the introduction of the currency agreement in force).

In case of modification and (or) the amendments in the currency agreement on capital movement increasing its amount, increase in the amount of currency transaction by the conclusion of the agreement of innovation, calculation of equivalent in US dollars of increase in the amount of the currency agreement is perfromed with use of the market rate of currency exchange for signature date of the supplementary agreement, agreement of innovation (in case of its absence - for date of the introduction of the supplementary agreement, agreement of innovation in force).

Under the currency agreement on capital movement which amount does not exceed the threshold value specified in Item 9 of Rules in case of the actual increase in the amount of the agreement without entering of corresponding changes into the currency agreement, calculation of equivalent in US dollars of the amount of actually fulfilled obligations under the currency agreement it is perfromed with use of the market rate of currency exchange on date of the corresponding transactions.

In case of acceptance by the resident of right to claim against the nonresident or debt to the nonresident as a result of concession of the requirement or the translation of debt, the amount of the currency agreement the transferred (accepted) amount of the requirement or debt respectively, including the amount of the requirement or debt on remuneration, commission charges, penalties and other payments is recognized.

11. The participating resident of the currency agreement on capital movement addresses for assignment of accounting number to the currency agreement on capital movement in the territorial branch of National Bank located in the place of its permanent residence (for physical person) or stays (for the legal entity).

12. The participating resident of the currency agreement on capital movement addresses for assignment of accounting number to the currency agreement on capital movement prior to obligation fulfillment under such currency agreement of any of its parties. If obligation fulfillment under the currency agreement with the first there begins it nonresident participant, and this execution is connected with cession of property (receipt of money) for benefit of resident, then the participating resident of the currency agreement on capital movement addresses for assignment of accounting number to such currency agreement before receipt of property (money) in the order.

The participating resident of the currency agreement on capital movement addresses for assignment of accounting number to the currency agreement on capital movement which amount does not exceed the threshold value specified in Item 9 of Rules prior to execution of such obligation if obligation fulfillment of one of the parties of the currency agreement will entail the actual increase in the amount of the currency agreement, without entering of corresponding changes and (or) amendments into the currency agreement.

The resident which accepted right to claim against the nonresident or accepted debt to the nonresident as a result of concession of the requirement or the translation of debt, voluntary conveyance, inheritance, approach of warranty case, by a court decision, addresses for assignment of accounting number to the currency agreement on capital movement no later than 60 (sixty) calendar days from the date of emergence of such requirement (debt), but prior to obligation fulfillment according to the arisen requirement (debt) of any of its parties.

The resident to which passes the property right to the real estate abroad (except for physical resident persons) on equity interest of legal nonresident person as a result of acquisition at resident, voluntary conveyance, inheritance, by a court decision, addresses for assignment of accounting number to the currency agreement on capital movement no later than 60 (sixty) calendar days from the date of transition of the property right, but before alienation of such property right.

When replacing the initial obligation existing between resident (the exporter or the importer) and the nonresident, other obligation between the same persons providing other subject or method of obligation fulfillment and relating to capital movement transactions, the resident addresses for assignment of accounting number to the currency agreement on capital movement no later than 60 (sixty) calendar days from the date of replacement, but prior to obligation fulfillment of any of its parties.

13. For receipt of accounting number the participating resident of such currency agreement represents to the currency agreement on capital movement to National Bank:

1) the statement on assignment of accounting number to the currency agreement, on the basis and (or) in pursuance of which capital movement operations, in form according to appendix 1 to Rules are performed;

2) for physical persons - the copy of the identity document containing individual identification number or the document confirming the right of permanent residence in the Republic of Kazakhstan (for foreigners or stateless persons);

3) the copies of the currency agreement on capital movement and changes and (or) amendments to it concerning obligations under the currency agreement on capital movement stitched and certified by the signature of physical person or representative of the legal entity. If the currency agreement on capital movement is signed in foreign language, then its translation on Kazakh or Russian is represented.

In case of obligation fulfillment under the currency agreement on capital movement to the request for assignment of accounting number the participating resident represents to such currency agreement to territorial branch of National Bank of the copy of the documents confirming origin, execution and discharge.

In case of submission of documents by electronic method the electronic copy of the currency agreement on capital movement is submitted.

For receipt of new accounting number in cases, stipulated in Item 15 Rules, the documents specified in parts one and the second this Item of Rules, repeatedly is not represented if they did not change from the moment of the last submission to National Bank.

14. Accounting number is assigned to the currency agreement on capital movement by territorial branch of National Bank within 5 (five) working days from the date of representation by the resident in full of documents and data, stipulated in Item 13 Rules, and joins in the register of accounting numbers.

Accounting number, date of its assignment are specified on the first leaf of the original or the copy of the currency contract on capital movement with assurance by the signature of the authorized worker and seal of territorial branch of National Bank.

One copy of the copy of the currency contract on capital movement with mark about assignment of accounting number remains in territorial branch of National Bank.

The territorial branch of National Bank performs classification of transaction of capital movement and informs the participating resident of the currency agreement on capital movement to which accounting number, about need of submission of the report according to Items 24 and 25 of Rules is assigned.

15. Receipt of new accounting number for the currency agreement on capital movement to which accounting number is assigned, it is required in case of change of the following data:

1) currencies of the currency agreement on capital movement;

2) participants of the currency agreement on capital movement if change involves change of persons in requirements or obligations of the participating resident of the currency agreement for capital movement;

3) subject of the currency agreement if change involves reclassification of transaction of capital flow and (or) change of report form;

4) identification these participating nonresidents of the currency agreement (surname, name, middle name (in the presence), the countries of permanent residence of physical person, including based on nationality or the right granted according to the legislation of foreign state, the name, country of incorporation of the legal entity, branch (representation) of the legal entity);

5) places of permanent residence (stay) of resident - when moving (re-deployment) to other area, the city of republican value, the capital;

6) identification data of the resident - the participant of the currency agreement who is the legal entity in connection with its reorganization (merge, accession, separation, allocation, transformation).

16. The currency agreement on capital movement is removed from accounting registration in territorial branch of National Bank and (or) its accounting number is excluded from the register of accounting numbers in the following cases:

1) in case of assignment of new accounting number in cases, stipulated in Item 15 Rules;

2) in case of change of conditions of the currency agreement on capital movement or other data as a result of which the sum of the currency agreement is determined below the threshold value specified in Item 9 of Rules or the currency agreement is not subject to accounting registration according to Item 17 of Rules;

3) in the absence of obligation fulfillment by the parties under the currency contract with the expired effective period and (or) the expired completion date of obligations;

4) in case of complete cessation of obligations between the parties;

5) in case of completion of ownership of asset;

6) in case of change of residence of the party of the currency agreement on capital movement as a result of which transactions under the agreement will not be capital movement transactions;

7) when entering data into the National register of business and identification numbers on the termination of activities of legal resident person;

8) at deaths door, the announcement to the dead, recognition by incapacitated or it is limited capable physical resident person and absence of the legal successor;

9) at deaths door, the announcement to the dead, recognition by incapacitated or it is limited capable physical nonresident person, liquidation of legal nonresident person, being the party of the currency agreement on capital movement.

The subitem 4) of part one of this Item, does not extend to cases when the resident is investment object, participates in the investment object capital, acquires the property right to the real estate abroad under the currency agreement on capital movement to which accounting number was assigned.

In the cases provided by subitems 2), 3), 4), 5), 6) and 9) of part one of this Item, the resident for removal of the currency agreement from accounting registration and exception of accounting number of the register of accounting numbers submits the application in form according to appendix 1 to Rules.

In the cases provided by subitems 2), 4), 5), 6) and 9) of part one of this Item together with the statement the resident represents copies of the documents confirming approach of the circumstances specified in the statement.

17. The following currency agreements on capital movement are not subject to accounting registration:

1) currency agreements on capital movement which participants are the National Bank and (or) the Ministry of Finance of the Republic of Kazakhstan;

2) currency agreements on capital movement which participants are members of the International financial center "Astana" on whom operations are performed in the territory of the International financial center "Astana";

3) agreements on the state external loans of the Republic of Kazakhstan, non-state external loans having the state warranties of the Republic of Kazakhstan.

Currency agreements within which the following transactions of capital movement are provided are not subject to accounting registration:

1) carried out by foreign institutions of the Republic of Kazakhstan, branches (representations) of the foreign organizations performing the activities in the territory of the Republic of Kazakhstan;

2) own transactions of capital movement of banks, insurance (reinsurance) organizations, brokers and (or) dealers, managing companies, branches of banks - nonresidents of the Republic of Kazakhstan and branches of the insurance (reinsurance) organizations - the nonresidents of the Republic of Kazakhstan performing the activities in the territory of the Republic of Kazakhstan;

3) the transactions connected with investment of own and (or) pension assets of the single accumulation pension fund and the Voluntary accumulation pension funds;

4) placement and (or) acquisition:

government securities of the Republic of Kazakhstan;

the securities of the resident issuer issued according to the legislation of other state and in its territory (including depositary receipts which underlying asset are securities of the resident issuer);

the securities of the nonresident issuer issued according to the legislation of the Republic of Kazakhstan (including the Kazakhstan depositary receipts);

5) acquisition in the secondary market:

resident at the nonresident of the debt securities of the resident issuer issued according to the legislation of the Republic of Kazakhstan;

the nonresident at resident of the debt securities of the nonresident issuer issued according to the legislation of other state and in its territory;

6) the transactions of residents performed based on the agreement on rendering broker services signed with the resident broker or based on the agreement on management of investment portfolio signed with managing investment resident portfolio;

7) acquisition of right of completely exclusive right to result of intellectual creative activities;

8) the transactions of physical resident persons connected with acquisition of property right to the real estate, voluntary conveyance of money and other currency values.

Accounting number is not assigned:

1) to the contract for voluntary conveyance by the resident to the nonresident (the nonresident to resident) money or other currency values or the property right to the real estate abroad if such transfer is resulted by execution or discharge or alienation of the property right to currency values, on the real estate abroad under the currency agreement on capital movement for which the resident earlier gets accounting number;

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info