Persons holding a responsible public office, persons authorized to perform state functions (with the exception of maslikhat deputies), and officials are prohibited from opening or maintaining accounts (deposits) in foreign banks located outside the Republic of Kazakhstan, as well as from keeping cash and valuables in foreign banks located outside the Republic of Kazakhstan.
Note. This restriction does not apply to branches of non-resident banks of the Republic of Kazakhstan located within the territory of the Republic of Kazakhstan.
Within six months from the date of assuming office, the persons referred to above are required to close accounts (deposits) in foreign banks located outside the Republic of Kazakhstan and/or cease keeping cash and valuables in foreign banks located outside the Republic of Kazakhstan.
If the persons referred to above are unable to comply with these requirements due to an arrest or restriction on the disposal of funds imposed by the competent authorities of a foreign state in accordance with the legislation of the foreign state in whose territory the accounts (deposits) are held and/or the cash and valuables are kept in a foreign bank, or due to force majeure circumstances (natural disasters, military actions, a state of emergency, the impossibility of early termination of a bank account (deposit) agreement, and other circumstances beyond the control of such persons), the requirements shall be fulfilled within six months from the date on which the arrest, restriction on disposal, or other circumstances cease to exist, with submission of documents confirming the relevant facts.
If, as a result of accepting an inheritance in accordance with the legislation of the Republic of Kazakhstan or a foreign state, the persons referred to above acquire ownership and/or use of accounts (deposits), cash, or valuables in foreign banks located outside the Republic of Kazakhstan, such persons shall, within six months from the date of acceptance of the inheritance, close the accounts (deposits) and/or cease keeping the cash and valuables in foreign banks located outside the Republic of Kazakhstan.
The provisions of the above paragraphs shall not apply to persons sent to work at diplomatic missions and other foreign establishments of the Republic of Kazakhstan, representative offices of the Republic of Kazakhstan, and international organizations by the Republic of Kazakhstan, as well as persons seconded to such organizations, for the period of their work in such organizations; persons studying abroad or undergoing an internship abroad; persons on a foreign business trip; persons undergoing medical treatment abroad; or persons staying abroad as the legal representative of a minor child or as a guardian or custodian of an adult during the period of the relevant person's studies or medical treatment abroad.
Within the periods specified above, the persons referred to in paragraph 1 shall have the right to submit an application for termination of their civil service or other relevant activities at their own request.
