Banking, Money and Taxes in Kazakhstan

Despite some uncertainty following the global recession, Kazakhstan’s banking sector is viewed as one of the most robust of the former Soviet states and expats will find that managing their money and banking in Kazakhstan is relatively easy and straightforward. 

Money in Kazakhstan

The local currency is the Kazakhstani Tenge (KZT), which is divided into 100 tïın.

  • Notes: 200, 500, 1,000, 2,000, 5,000, 10,000 and 20,000 KZT

  • Coins: 1, 2, 5, 10, 20, 50 and 100 KZT

Banking in Kazakhstan

Expats have a wide variety of banks to choose from, with many offering services specifically tailored for expats. The main local banks include Kazkommertsbank, Halyk Bank and Bank Center Credit.

Banks are usually open every weekday from 9am to 6pm, with an hour lunch break, and are closed on weekends.

Opening a bank account

There are no restrictions on non-residents opening a bank account in Kazakhstan and expats are able to open a local account, in either the local or a foreign currency (usually US dollars, British pounds, or euros).

Expats will need their passport and an RNN number (Kazakh tax number), and in some cases a letter from their employer, to open a bank account in Kazakhstan. A minimum deposit will also be required.

Employers in Kazakhstan sometimes specify which bank they want their expat employees to use, so expats should seek the assistance of their company before opening an account.

ATMs and credit cards

ATMs are widely available in Kazakhstan’s main cities, but can be scarce in smaller locations. Most ATMs will accept foreign bank cards. Most machines only dispense cash in tenge, but some in the larger cities also stock US dollars.

All major credit cards are accepted in Kazakhstan.

Taxes in Kazakhstan

Although Kazakhstan’s tax system is relatively uncomplicated, it’s best for expats to employ the services of a qualified tax consultant to assist them in managing their taxes while in Kazakhstan.

Employment income is taxed at a flat rate of 10 percent in Kazakhstan. Tax residents are subject to personal tax on their worldwide income, while non-residents are taxed only on their income generated in Kazakhstan.

Expat Health Insurance Partners

Aetna International

Aetna offers award-winning international health insurance plans to more than 55 million members worldwide. Their plans are tailored to meet the individual needs of you and your family while you are away from your home country, living and working abroad. Get peace of mind knowing you and your family will be protected and have access to quality health care wherever you are, where you need it.

* For a limited time, there is a discount of up to 20% on new multi-member policies and up to 10% on single member policies. This offer is valid until 19 June 2020. See website for details.

Get a quote from Aetna International


Cigna Global

With 86 million customer relationships in over 200 countries, Cigna Global has unrivalled experience in dealing with varied and unique medical situations and delivering high standards of service wherever you live in the world.

Get a quote from Cigna Global