Opening a bank account in the Republic of Kazakhstan for a non-resident legal entity

Stage 1

Acquisition of an Individual Identification Number (IIN) for the executive of a non-resident legal entity, in cases where the executive is not a citizen of the Republic of Kazakhstan.

It is required to present the original foreign passport, complete the prescribed form, and personally appear at the registering body (Public Service Center, PSC). The service period is 1-3 business days.

Stage 2

Obtaining a Business Identification Number (BIN) for a non-resident legal entity.

A tax declaration for registration must be filed with the tax authority at the location of the bank, accompanied by notarially certified copies of documents specified in paragraph 2 of Article 76 of the Tax Code, these include:

• founding documents;
   
• documents confirming state registration in the country of incorporation of the non-resident, with the state registration number (or its equivalent);
   
• documents confirming tax registration if it exists in the country of incorporation or country of residence of the non-resident, with the tax registration number (or its equivalent) if such document is available;
   
• minutes of the meeting of the board of directors or a similar governing body;
   
• information about the beneficial owner;
   
• power of attorney for document submission.

When filling out the registration declaration, the purpose of obtaining the BIN – opening a current account in resident banks, branches of non-resident banks – must be stated.

The service period is 3-5 business days.

Stage 3

Assistance with opening a bank account in the Republic of Kazakhstan for a non-resident legal entity

List of documents for opening a bank account for non-resident legal entities of the Republic of Kazakhstan includes:

1. The original or a notarially certified copy of an extract from the trade register or another similar document containing information about the body that registered the non-resident legal entity, registration number, date, and place of registration, with notarially certified translation into Kazakh or Russian language, and, if necessary, legalized or apostilled;
    
2. Registration certificate of the non-resident’s tax registration (BIN);
    
3. IIN of the company’s non-resident executive in the Republic of Kazakhstan;
    
4. Identity documents of the founders (participants) of the legal entity;
    
5. Identity documents of the beneficial owners of the legal entity;
    
6. Company resolution on opening an account in Kazakhstani banks;
    
7. Current contracts of the company with Kazakhstani companies;
    
8. Lease agreement for office space in the Republic of Kazakhstan.
    
9. Documents confirming the powers of persons include:
   • Protocol/Decision on the appointment of the first executive;
      
   • Order on the appointment of persons with the right of first and second signature;
      
   • Power of attorney for account management;
      
   • Identity documents of persons authorized to sign payment documents in transactions related to the management of the client’s bank account.
      
10. In addition to company documents, bank managers request various forms, questionnaires related to the company’s activities, turnovers, the presence of counterparties, etc., according to Chapter 5, paragraph 32 of the Resolution of the Board of the National Bank of the Republic of Kazakhstan dated July 28, 2017, No. 136. On approval of the Rules for providing banking services and consideration by banks, organizations conducting certain types of banking operations, of clients’ appeals arising in the process of providing banking services, the bank, in case of insufficient information provided, requests additional documents and information from the client.

Timeline

Regarding the timeline, opening a bank account can take from 5 working days (including obtaining an IIN, BIN, internal bank check) to a month, depending on the internal requirements of each bank. Additionally, it is advisable for the company’s first executive to be present when submitting documents for opening an account due to the necessity to sign a sample signature card and stamp the company’s seal. However, if the executive cannot be present, we can open an account for a representative by power of attorney, after which the power of attorney is usually revoked by the client and sends their sample signature card (notarially certified, or personally signed at the bank).

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