LAW OF THE REPUBLIC OF KAZAKHSTAN

of June 13, 2005 No. 57-III ZRK

About currency control and currency exchange control

This Law governs the public relations arising in case of realization by residents and nonresidents of the rights to currency values, determines the purposes, tasks and procedure for currency control and currency exchange control.

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1) exchange points - specially equipped venues of exchange transactions with cash foreign currency;

2) currency - the monetary units accepted by the states as legal means of payment, or official standards of cost in cash and non-cash forms, in the form of banknotes, treasury notes and coins including from precious metals (including withdrawn or withdrawn from circulation, but subject to exchange on the bank notes which are in circulation), and also means on accounts, including in international cash or units of account;

3) 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;

the affined ingot gold;

national currency, securities and payment documents which nominal is expressed in national currency, in case of making of transactions with them between residents and nonresidents, and also between nonresidents;

the securities which do not have nominal issued by residents in case of making of transactions with them between residents and nonresidents, and also between nonresidents;

4) 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, national currency, securities and payment documents which nominal is expressed in national currency, the securities which do not have nominal issued by residents;

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

5-1) accounting contract number – the registration number intended for ensuring accounting and the reporting under currency transactions, appropriated by authorized bank to the currency agreement providing export (import);

6) commercial credits - the payment deferral or advance payment (advance payment) on export or import performed directly between suppliers (sellers) and receivers (buyers) of goods (works, services);

7) financial loans:

loans (except for commercial credits);

contributions (deposits) in banks made by their affiliated organizations created abroad for the purpose of attraction of financial resources in the international markets of the capital;

the money transferred in ensuring obligation fulfillment of the debtor;

financing by the third parties of purchase of goods (works, services) and other transactions, and also execution by the third parties of obligations of the debtor to the creditor from which the obligation of person results, for whom the obligation, on refund and other property with remuneration or without that to the person which provided such financing and (or) performed such execution is fulfilled;

financial leasing, and also real estate lease (except for the movable things equated or carried by legal acts of the Republic of Kazakhstan to the real estate) with the subsequent redemption;

8)   No. 530-IV ZRK is excluded according to the Law of the Republic of Kazakhstan of 06.01.2012

9) nonresidents:

the physical persons, legal entities, their branches and representations which are not specified in the subitem 10) of this Article;

the international organizations if the international (interstate) agreement about their organization does not determine other;

diplomatic and other official representations of foreign states;

10) residents:

the citizens of the Republic of Kazakhstan including who are temporarily abroad or being in public service of the Republic of Kazakhstan beyond its limits, except for the citizens of the Republic of Kazakhstan having the document on the right of permanent residence in foreign state issued according to the legislation of this state;

the foreigners and stateless persons having the document on the right of permanent residence in the Republic of Kazakhstan;

all legal entities created according to the legislation of the Republic of Kazakhstan with the location in the territory of the Republic of Kazakhstan, and also their branches and representations with the location in the Republic of Kazakhstan and beyond its limits;

the diplomatic, trade and other official representations of the Republic of Kazakhstan which are outside the Republic of Kazakhstan;

11) direct investments:

investments of money, securities, things, property rights, including the rights to results of intellectual creative activities, and other property in payment of shares (deposits of participants) of the legal entity if belong to person performing such investments or as a result of such investments will belong ten and more percent of voting shares (ten and more percent of votes from total quantity of voices of participants) this legal entity;

property investments which lead to increase in the capital of other, than the authorized capital of the legal entity, performed by person who belongs ten and more percent of voting shares (ten and more percent of votes from total quantity of voices of participants) this legal entity;

12) authorized banks - the banks and the organizations performing separate types of banking activities which perform currency transactions, including according to orders of the clients except for specified in the subitem 13) of this Article created in the Republic of Kazakhstan;

13) authorized organizations - the legal entities created according to the legislation of the Republic of Kazakhstan whose exclusive type of activity is the organization of exchange transactions with cash foreign currency;

14) national currency - currency of the Republic of Kazakhstan;

15) foreign currency - currency of foreign state, and also international cash or units of account;

16) foreign banks - the banks and other financial institutions created outside the Republic of Kazakhstan and having the right to banking operations by the legislation of the states in which they are registered;

17) export (import) - sales of goods, performance of works, rendering services by the resident to the nonresident (the nonresident to resident).

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