Foreign entrepreneurs who invest more than $300,000 in Kazakhstan’s economy will receive a 10-year visa and a residence permit, said President Kassym-Jomart Tokayev during his national address on September 1, Qazmonitor reports.
The annual speech outlined reforms regarding the socio-economic development of the country. On the topic of strategic investments in the nation’s future, human capital was highlighted as the essential component for success.
“In general, for the development of human potential, it is important to attract talented specialists from abroad to the country, especially those who have achieved success in the fields of creativity and entrepreneurship. We are talking about an effective migration policy. It is necessary to reduce the shortage of the most in-demand and highly qualified personnel.”
According to the President, the state will introduce certain exemptions and visas with the right to obtain a residence permit to attract professionals in the field of science, health, industry, and IT.
He said that foreign businesspeople who have invested more than $300,000 in the Kazakh economy will have an opportunity to get a 10-year visa and a residence permit.
As for the migration policy, the resettlement process of Kandas (ethnic Kazakhs with permanent residence outside of Kazakhstan) and the regulation of internal migration will undergo radical reform.
“It is fundamentally important to use approaches that take into account demographic and economic trends, as well as the national interest,” Tokayev said.
Heavy emphasis was put on the education and career success of Kazakh citizens both in their own country and abroad.