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Astana, Kazakhstan • 14 April, 2023 | 23:22

Do Permanent Residency Applicants in Kazakhstan Need to Provide Proof of Funds?

Decree by the Ministry of Internal Affairs lists two criteria

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The ministry of internal affairs proposed a decree that would require foreign nationals and stateless persons to prove their ability to pay when applying for a residence permit in Kazakhstan, QazMontor reports citing the open legalacts portal.

Applicants for residency will have to prove that they have at least ₸4,554,000 (1,320 Monthly Calculation Indexes in 2023) in their bank account. In addition, the amount must be sufficient to purchase housing at the rate of 15 square meters per family member in the locality where the applicant intends to reside. This figure is determined by the average market value of housing in the given settlement.

To show funds in their bank account, applicants must submit a document signed by either the chair of the board or an authorized person of the resident bank of Kazakhstan to the internal affairs bodies.

NOTE: the applicant does not need to provide a contract with a person or an entity for housing or a document from a bank stating the availability of funds to purchase housing.

Public discussion of the draft law will continue until April 24 this year.

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