Kazakhstan offers the opportunity for foreign companies to open corporate bank accounts in local financial institutions. What makes this option particularly attractive is that a foreign business is not required to visit Kazakhstan in person, collect documents, or visit financial organizations to open a corporate account.
With our assistance, a non-resident company can open a current account remotely.
Benefits of Opening a Bank Account for a Non-Resident Company in Kazakhstan:
- The ability to freely conduct foreign currency operations (e.g., currency exchange, receiving international payments). Accounts can be opened not only in Kazakhstani tenge, but also in USD, EUR, GBP, and other major currencies.
- More flexible legislation, simplified banking and currency control rules (compared to Russia), and no equivalent of Russia’s Federal Law 115.
- Russian-speaking bank staff, which simplifies communication for CIS clients.
- Double Taxation Avoidance Agreements signed with over 50 countries, allowing businesses to avoid being taxed twice on the same income.
- A clearly regulated application process and required documentation, which minimizes the risk of rejection.
Although the overall procedure is transparent, it’s important to note that each financial institution (there are 38 banks in Kazakhstan) has its own internal regulations, which should be carefully reviewed before applying. We also recommend comparing service tariffs and account packages when selecting a bank.
Before Opening a Bank Account for a Foreign Company in Kazakhstan Remotely, the Following Steps Must Be Completed:
- Obtain a Tax Identification Number (TIN) for the company’s director from the tax authorities;
- Register a Business Identification Number (BIN) for the company itself;
- Register a local phone number in the company’s name;
- Obtain an electronic digital signature (EDS) — this is required to submit the online application for account opening.
We handle all of the above steps for you remotely. Let us know if you’d like to begin the process — we’ll guide you through each stage and ensure full legal compliance.
Opening a Bank Account for a Foreign LLC in Kazakhstan
To complete steps 1–4, a company must prepare the following set of documents:
- A copy of the company director’s passport, notarized;
- A notarized power of attorney authorizing representation (if you plan to delegate the process to local legal representatives);
- Documents for obtaining a BIN (issued through the portal https://egov.kz/);
- A notarized copy of the company charter;
- A notarized copy of the company’s tax registration certificate;
- A notarized copy of the trade register extract;
- A notarized copy of the certificate of incorporation.
Next Steps: Opening a Current Account for a Russian Company in Kazakhstan
The first step is to select a bank, choose the appropriate tariff plan, and decide on the currency of the account based on the company’s goals and economic preferences.
We recommend considering the following financial institutions:
- Bereke Bank – no minimum balance or turnover requirements; same-day or next-day transfers; customizable service packages.
- ForteBank – offers full-service corporate banking. Free account opening, ten free online transfers per month, and unlimited ATM deposits/withdrawals (a 0.4% commission applies to cash withdrawals exceeding $1,170).
- First Heartland Jusan Bank – allows customization of service packages.
- Halyk Bank – offers a variety of service plans ranging from 1,500 to 39,000 KZT/month.
Standard Document Requirements for Kazakh Banks
Each financial institution may request a slightly different set of documents, but typically it includes:
- Application form;
- Signature card with two signature samples (bank form);
- Charter and founding documents;
- Legal address of the company;
- Appointment documents for the director (if required);
- Business licenses (if applicable);
- Passports of authorized signatories + appointment confirmation;
- Beneficial ownership details and passports;
- Power of attorney for persons authorized to sign financial documents;
- Proof of the company’s registration with Kazakhstan’s tax authority.
Compliance Check and Approval
After submitting the initial application, the bank conducts a due diligence check of the company to verify the legality of its funds, transaction history, sanctions lists, and more. Kazakhstan’s banks are cautious due to the risk of secondary sanctions, and thus, the compliance process for International companies is particularly thorough and may take time.
If approved, you’ll sign documents using your digital signature (EDS). You will then receive:
- The signed documents
- Access credentials for online banking
- A plastic card (if applicable)
Once this process is complete, your foreign company can fully operate through a Kazakh bank account, bypassing sanction-related restrictions. We can also help you register a local LLC in Kazakhstan remotely.
Timeline
Typically, the entire process takes 2–3 weeks depending on document readiness and bank compliance review. Timelines may vary.
Conclusion
Opening a corporate account in a Kazakh bank is one of the most effective solutions for foreign businesses seeking to avoid sanctions and continue operating internationally. With our assistance, you can complete the entire process remotely. All your company needs to do is choose a bank and a tariff plan, and respond to any questions from the bank during compliance checks — we handle the rest.
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