Article 16. Notification of accounts in foreign banks of the Law on Currency Regulation and Currency Control
1. A resident legal entity (with the exception of a bank and a branch (representative office) of a foreign organization) shall notify the National Bank of the Republic of Kazakhstan of the opening of an account with a foreign bank by requesting the assignment of an account number to such an account prior to transactions using such an account.
A resident legal entity (with the exception of a bank and a branch (representative office) of a foreign organization) submits to the National Bank of the Republic of Kazakhstan information on transactions using an account opened with a foreign bank, indicating the account number.
To assign an account number to a foreign bank, a resident legal entity (with the exception of a bank and a branch (representative office) of a foreign organization) submits an application indicating the business identification number and a copy of the document of the foreign bank with the specified account details.
In the event of a change in the details or closure of an account with a foreign bank to which an account number has been assigned, the resident legal entity (with the exception of the bank and a branch (representative office) of a foreign organization) shall notify the National Bank of the Republic of Kazakhstan within the prescribed time.
2. Resident individuals do not notify the National Bank of the Republic of Kazakhstan about accounts in foreign banks. The authorized bank that carries out such money transfers notifies individuals about money transfers from their own accounts (to their own accounts) in foreign banks.
3. The procedure for resident legal entities (with the exception of banks and branches (representative offices) of foreign organizations) to obtain account numbers for accounts with foreign banks, notify them of changes in banking details or closure of an account with a foreign bank, including forms and deadlines for submitting reports on the movement of money on such accounts, the procedure for submitting reports on transfers by authorized banks The money of individuals is determined by the rules for monitoring currency transactions in the Republic of Kazakhstan.
4. The requirements of this article do not apply to participants of the Astana International Financial Center.
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
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the Republic of Kazakhstan
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