Kazakhstan Reduces Visa Threshold Requirements For Foreign Investors
New immigration regulations offer foreigners ten-year residence visas for an investment of US$300,000
Kazakhstan will reduce the investment visa threshold for foreign investors, Tamara Duisenova, Kazakhstan’s Minister of Labor and Social Protection of the Population has said.
Measures to increase the country’s investment attractiveness are being aggressively implemented as part of the programme related to business immigration. Obtaining permits for the employment of foreign labor, for example, has been simplified for A-5 investors.
76 expats have been granted such investment visas since the beginning of 2023. The streamlining of the procedure for acquiring an individual identification number (IIN) and an electronic digital signature (EDS) through overseas representative offices on the basis of a “single application” for potential investors has been a major milestone.
Duisenova plans to reduce the investment visa threshold for entrepreneurs-investors. A new long-term investor A-6 visa has been introduced, which also grants the right to issue residence permits. Kazakhstan will now provide them with 10-year residence permits, in exchange for a US$300,000 investment under the new Kazakh migration policy concept, to be known as ‘Ashyk Kazakhstan 500+’.
The new concept states that any foreign investor who meets key requirements can live in Kazakhstan, register a business, own property, hire personnel, and make any kind of financial transactions associated with his business activity.
Kazakhstan is a member of the Eurasian Economic Union, a free trade bloc that also includes Armenia, Belarus, Kyrgyzstan and Russia, in addition to having free trade agreements with China, Serbia and Vietnam. Others, including with India and the UAE, are currently being negotiated. The country is a key transit route between Europe and China.
The process of issuing the Ata Zholy card to ethnic Kazakhs with successful business experience abroad was also approved. To date, the Otandastar Foundation has already formed a preliminary list of 50 ethnic Kazakhs who will be issued the Ata Zholy card. This document is issued to encourage overseas Kazakhs who have specific specialties or have successful businesses overseas to also realize their potential in Kazakhstan. The card gives the right to permanent residence in Kazakhstan without losing their current citizenship for up to ten years.
Enquiries concerning Kazakh investment visas and market intelligence into the country can be obtained from Dezan Shira & Associates. The firm has over 30 years of experience in assisting foreign investors into Asia. Please email silkroad@dezshira.com for assistance.
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