Article 21. Additional requirements for the establishment of a bank with the participation of non-residents of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan

Home / RLA / Article 21. Additional requirements for the establishment of a bank with the participation of non-residents of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan

Article 21. Additional requirements for the establishment of a bank with the participation of non-residents of the Republic of Kazakhstan of the Law on Banks and Banking Activities in the Republic of Kazakhstan

A non–resident legal entity of the Republic of Kazakhstan, which is the founder of the bank, in addition to the documents specified in Article 19 of this Law, must attach to the application for permission to open a bank a copy of the consent (permission) to own shares of a bank operating in the territory of the Republic of Kazakhstan, issued by the financial supervisory authority of the state of which the applicant is a resident, or a copy of the confirmation from the financial supervisory authority of the state of which the applicant is a resident, stating that such consent (permission) is not required.

Legal entity – a non-resident of the Republic of Kazakhstan, who is the founder of a bank established as part of the voluntary reorganization of a microfinance organization in the form of conversion into a bank, must attach to the application for permission for the voluntary reorganization of a microfinance organization in the form of conversion into a bank a copy of the consent (permission) to own shares of a bank operating in the territory of the Republic of Kazakhstan issued by the financial supervisory authority the State of which the applicant is a resident, or a copy of the confirmation from the financial supervisory authority of the State, of which the applicant is a resident, stating that such consent (permission) is not required.

The Law of the Republic of Kazakhstan dated August 31, 1995 No. 2444.

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