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Astana, Kazakhstan • 10 January, 2024 | 11:10
1 min read

Kazakh Citizens Declare Over $249M in Foreign Bank Accounts

More than two thousand citizens declare real estate in 52 countries

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Yerzhan Birzhanov, Vice Minister of Finance, shared the results of two stages of the universal income declaration in Kazakhstan at the press briefing in Astana, QazMonitor reports.

"To date, two stages of the universal declaration have already concluded, revealing that 533 citizens of Kazakhstan hold accounts in foreign banks across 58 countries. The total amount of money is ₸113.5 billion (as of January 10, 2024, $249,645,179). These accounts are located in countries such as Russia, the US, and France," said Birzhanov.

He noted that 2,005 citizens declared 2,483 pieces of real estate in 52 countries, with the largest numbers observed in Russia, Turkiye, and Azerbaijan. Additionally, 916 citizens registered 1,017 vehicles in 55 countries, while 97 citizens have a stake in 122 legal entities outside of Kazakhstan, most of them in Russia, the Kyrgyz Republic, and the US.

Birzhanov emphasized that financial transparency for both legal entities and individuals is a global trend.

Kazakhstan has joined the Strasbourg Convention, through which we exchange data on our residents. In the first stage, we received data on more than 600 citizens, which we are currently looking into. Over ₸3 billion ($6,598,551) has been declared, representing the income [Kazakh citizens] received abroad.

Yerzhan Birzhanov, Vice Minister of Finance

The Minister added that to prevent capital withdrawal and the laundering of illegal money, Kazakhstan collaborates with 80 countries on the issue.

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