Kazakhstan is an emerging business destination in Central Asia, offering a strategic crossroads for trade between Europe and Asia. The country boasts abundant natural resources, with a thriving energy and mining sector. It has made significant progress in improving its business climate, with a focus on attracting foreign investment through initiatives and special economic zones. Kazakhstan's large, educated workforce and access to the Eurasian Economic Union market make it an attractive option for companies seeking regional expansion. Its evolving infrastructure and economic diversification efforts add to the nation's business appeal.
We work with 0 different banks in Kazakhstan, each bank has different eligibility requirements, types of accounts available and onboarding processes.
We invite you to carefully review each banks requirements and services to better understand if their banking services meet your needs.
Kazakhstan, officially known as the Republic of Kazakhstan, is a vast and landlocked country situated in Central Asia and Eastern Europe, bordered by Russia to the north, China to the east, Kyrgyzstan, Uzbekistan, and Turkmenistan to the south, and the Caspian Sea to the west. Kazakhstan is the world's largest landlocked country and the ninth-largest by land area. The capital city, as well as the economic center, is Nur-Sultan, while Almaty remains the country's largest city. Kazakh and Russian are the official languages, and the national currency is the Kazakhstani Tenge (KZT).
Kazakhstan's history is deeply rooted in its nomadic traditions, with a heritage that includes the Kazakh Khanate and the vast steppes that once served as the crossroads of various civilizations. The country is home to diverse ethnic groups, including Kazakhs, Russians, Uzbeks, and Ukrainians, contributing to a rich cultural tapestry.
As a presidential republic, Kazakhstan's political system is led by the President as the head of state and the Prime Minister as the head of government. The Parliament, consisting of two chambers (the Mazhilis and the Senate), plays a crucial role in the legislative process.
In recent decades, Kazakhstan has undergone significant economic and social transformations. The country emerged from the dissolution of the Soviet Union in 1991, gaining independence. Since then, Kazakhstan has positioned itself as a key player in the Central Asian region.
Kazakhstan actively engages in international relations and is a member of various organizations, including the United Nations (UN), the Commonwealth of Independent States (CIS), and the Shanghai Cooperation Organization (SCO). The nation pursues diplomatic ties with countries globally and actively participates in global initiatives and development programs.
The Kazakh economy is marked by its vast natural resources, including oil, gas, minerals, and agricultural land. The energy sector, in particular, plays a crucial role in the country's economic landscape, making Kazakhstan one of the leading oil-producing nations in the world. In recent years, efforts have been made to diversify the economy, with a focus on sectors such as information technology, agriculture, and manufacturing.
Tourism is emerging as a sector of increasing importance in Kazakhstan. The country's diverse landscapes, from the lush Altai Mountains to the vast steppes and the Caspian coastline, attract visitors seeking adventure and cultural exploration. Historic sites like the Mausoleum of Khoja Ahmed Yasawi, a UNESCO World Heritage site, showcase Kazakhstan's rich architectural heritage.
In conclusion, Kazakhstan, with its expansive landscapes, rich history, and strategic positioning, is navigating the challenges and opportunities of the 21st century. From economic diversification to cultural preservation, the country is on a trajectory of growth and global engagement, embodying the spirit of a modern and dynamic Central Asian nation.
Our banking support service is not just a mere introduction to the bank. We assist you in filling out the business questionnaires appropriately and help you understand and provide business details, commercial information and purpose/use of the bank account that a given bank wants to know in order to approve your account application. Banks want certainty and clarity on how the account will be used. Everything must be watertight. We will work with you to make sure there is minimal 'back and forth' and a smooth account opening process.
Bank Account opening requirements are subject to change at the discretion of the bank. There might be additional fees charged by the bank itself. Bank account opening is not guaranteed and is subject to the bank policies and compliance department. There might be restrictions on UBO nationalities, business activities and/or jurisdictions. A refund is available if the account is not successfully opened subject to our terms of service (20% to partly cover service and payment processing and administrative costs apply).