Article 14. Registration of the currency agreement on the movement of capital of the Law on Currency Regulation and Currency Control

Home / RLA / Article 14. Registration of the currency agreement on the movement of capital of the Law on Currency Regulation and Currency Control

1. The registration of a currency agreement on the movement of capital provides for the assignment of an accounting number to this agreement and the subsequent submission by a resident participant of a currency agreement on the movement of capital to the National Bank of the Republic of Kazakhstan of information and reports on it using the accounting number.

The registration requirements apply to foreign exchange contracts for the movement of capital, the participants of which are residents (with the exception of authorized banks and branches (representative offices) of foreign organizations).

2. A resident (with the exception of an authorized bank and a branch (representative office) of a foreign organization) who is a participant in a foreign exchange agreement on capital movements applies to the National Bank of the Republic of Kazakhstan for assignment of an account number to a foreign exchange agreement on capital movements before any of its parties begin fulfilling obligations under such a currency agreement.

If the fulfillment by a resident of obligations under a foreign exchange agreement on the movement of capital is preceded by the transfer of property (receipt of money) from a non-resident in favor of a resident, then an application for assignment of an account number to a foreign exchange agreement on the movement of capital is carried out before the transfer of property (receipt of money) to the disposal of a resident and (or) crediting the received money to the resident's bank accounts in authorized banks.

If, as a result of amendments and (or) additions, the foreign exchange agreement on the movement of capital meets the criteria and conditions for registration, the registration number is assigned to the foreign exchange agreement on the movement of capital before the parties begin to fulfill their obligations under the foreign exchange agreement on the movement of capital with the amendments and (or) additions (before the transfer of property (receipt of money) at the disposal of a resident, if, after making changes and (or) additions to the currency agreement on the movement of capital, the fulfillment of the obligation is initiated by a non-resident).

According to foreign exchange contracts for the movement of capital subject to registration, payments and (or) money transfers through bank accounts with authorized banks are carried out only if there is an account number.

3. For the registration of a currency agreement on the movement of capital, a resident (with the exception of an authorized bank and a branch (representative office) of a foreign organization) submits to the National Bank of the Republic of Kazakhstan:

1) an application indicating the resident's identification number, for individuals – with a copy of the identity document attached.;

2) copies of the currency agreement on the movement of capital and amendments and (or) additions to it concerning obligations under the currency agreement on the movement of capital.

The National Bank of the Republic of Kazakhstan has the right to request for review the originals of these documents, as well as other documents and (or) information related to the implementation of the capital movement operation and (or) to which there are references in the submitted documents.

Documents drawn up in a foreign language are submitted to the National Bank of the Republic of Kazakhstan with a translation into Kazakh or Russian.

The assignment of an account number to a foreign exchange agreement on the movement of capital is carried out within five working days from the date of submission by a resident of all documents and information provided for in this paragraph.

4. The requirements of accounting registration do not apply to foreign exchange contracts for the movement of capital, the participants of which are the National Bank of the Republic of Kazakhstan, the Ministry of Finance of the Republic of Kazakhstan.

5. The procedure for residents (with the exception of authorized banks and branches (representative offices) of foreign organizations) to obtain accounting numbers for foreign exchange contracts for the movement of capital and the deadlines for their submission of documents confirming the occurrence, fulfillment and termination of obligations, the procedure for monitoring the movement of money and other fulfillment of obligations under foreign exchange contracts for the movement of capital, including the forms and deadlines for submitting reports by authorized persons by banks and residents who are parties to such agreements, conditions and criteria, including the threshold value of the amount of a foreign exchange contract for the movement of capital, in the presence of which such contracts are subject to registration, and exceptions to the registration procedure are determined by the rules for monitoring foreign exchange transactions in the Republic of Kazakhstan.

6. The requirements of this article do not apply to currency transactions conducted by participants of the Astana International Financial Center on its territory.

This Law regulates public relations related to the implementation of currency transactions, defines the goals and objectives of currency regulation and currency control.

President

Republic of Kazakhstan

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