December 12, 2022

Proof of solvency for permanent residence in Kazakhstan

In accordance with article 4 of the Law “On the Legal Status of Foreigners”, a prerequisite for granting a permanent residence permit in the Republic of Kazakhstan is confirmation of solvency by the person applying for such a permit.

Foreigners and stateless persons confirm their solvency when applying for a permit for permanent residence in the Republic of Kazakhstan.

To confirm their solvency during their stay in the Republic of Kazakhstan, foreigners and stateless persons submit to the internal affairs bodies a document of a resident bank of the Republic of Kazakhstan (certificate) signed by the chairman of the Board of the bank or an authorized person of the bank, on the availability of money in the bank account (accounts) in the amount of:

• equal to or exceeding the equivalent of 1,320 times the minimum calculation index established on the date of filing the application for permanent residence;
• sufficient to purchase a home, at the rate of 15 square meters per family member in the locality where the applicant intends to reside.

The amount of the amount is determined in accordance with the average market value of housing in this locality on the basis of a document issued by the relevant authorized body that registers rights to immovable property.
If there is an agreement with an individual or a legal entity to provide the applicant with housing, a bank document on the availability of money for the purchase of housing is not required.

The submitted documents confirming solvency are checked by the internal affairs bodies for authenticity by sending a request to the banking institution that issued the document confirming solvency, with the written consent of a foreigner and a stateless person in the form.

If several family members apply for a permanent residence permit, then everyone who has reached the age of 16 must confirm the existence of an amount in the amount of 1,320 MCI. In the absence of a dwelling, confirmation of the availability of an amount sufficient for its purchase is presented at the rate of 15 square meters for each family member of any age.

They do not have to prove their solvency:

• ethnic kazakhs;
• former compatriots, persons born or previously held citizenship of the Republic of Kazakhstan or the Kazakh Soviet Socialist Republic, and members of their families;
• citizens of countries and members of their families who have the right to acquire citizenship of the Republic of Kazakhstan in a simplified manner on the basis of international treaties (agreement between the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation on a simplified procedure for acquiring citizenship and the Convention on the Citizenship of a Married Woman), due to the fact that they have the right to apply on obtaining citizenship of the Republic of Kazakhstan regardless of the period of residence on the territory of the Party of the acquired citizenship.