What is the registration number of a currency agreement?
For certain currency agreements involving capital movement, the legislation of the Republic of Kazakhstan provides for a registration number to be assigned by the National Bank of the Republic of Kazakhstan. The registration number is assigned in the manner established by the Rules for Monitoring Currency Transactions.
When is a registration number generally required?
As a general rule, the requirement applies to currency agreements for capital movement where the amount of the relevant obligations exceeds the equivalent of USD 500,000, or where the amount of the agreement is not determined, unless an applicable exemption applies to the transaction.
Do I need to obtain a registration number for transactions through Freedom Broker?
The current Rules for Monitoring Currency Transactions provide for an exemption for transactions by residents carried out under a brokerage services agreement concluded with a resident broker. Whether the exemption applies to a specific transaction is determined based on the terms of the agreement and the requirements of the legislation.
Does a resident individual need to obtain a registration number when working with a non-resident broker?
The current Rules provide for an exemption from assigning a registration number for transactions by resident individuals carried out under a brokerage services agreement concluded with a non-resident broker.
What is the timeframe for assigning a registration number, if one is required?
Provided a complete set of documents and information is submitted, the registration number for a currency agreement for capital movement is assigned by the territorial branch of the National Bank within 5 business days.