Opening a personal or corporate account in Kazakhstan

If you’re looking for a truly international account with cryptocurrency capabilities, Kazakhstan is a great option. You may not have considered this country for this service, but there are many advantages. We offer you the opportunity to open an account with one of the licensed payment systems in Kazakhstan, allowing you to manage your currencies for personal or commercial purposes at no additional cost. Additionally, we can assist you in setting up the account, fully remotely, with ease.

Our recommended financial institution works with international clients and provides the following services:

• Support for cryptocurrency networks: BTC, ERC20, TRC20, BSC
• SWIFT transactions
• Multi-currency IBANs
• Currency exchange
• Personal and corporate accounts
• High-risk client services
• Online banking

You can open an account remotely by consulting our experts. The account registration period is as short as five working days. The service fee, excluding bank commissions, is 2,999 USD for a personal account and 3,999 USD for a corporate account.

You have a choice in consultations. You can have a complimentary, 15-minute meeting or a paid, one-hour session with an expert. The shorter, free consultation is for you to ask some specific questions or get an overview of a service, and the longer session with an expert in offshore banking is ideal if you want to learn about options suited to your specific needs and dive deep into the process, and how we can help.

Opening an account in Kazakhstan online

To access the financial tools and products of the Kazakh payment platform, you will need to:

• Prepare documents that include your personal information and corporate details.
• Undergo the KYC/AML procedure, which may involve an additional fee.

After that, you can:

• Gain access to online banking.
• Manage your fiat and digital assets remotely from anywhere in the world.

The most challenging part of the account opening procedure in Kazakhstan or any other country is the client verification by the security service. Many applicants receive denials at this stage for various reasons, with document non-compliance being a common issue.

This is where we can help. If you contact our experts on this platform, they can ensure your account application gets approved. They will assist in document preparation, ensure compliance with the institution’s requirements, and help open the account. A personal visit to the country is unnecessary; all the steps are completed remotely.

Payment system policy, tariffs, and conditions

Our recommended Kazakhstan payment institution, like all global financial institutions, adheres to the requirements of global regulators, FATF, and OECD. However, this is an international policy applied by many banks worldwide, and it is not considered a drawback. Clients of the payment system include both companies and individuals with high-risk profiles, particularly those residing in or conducting business activities in high-risk areas. In other words, if this is you, your financial activities are fully compliant, and your account will be credible; however, you can still operate in high-risk markets or have residency in a high-risk jurisdiction.

Bank customer risk categories

Let’s explore more about how it works if you’re high-risk. The compliance department of the Kazakh financial institution classifies clients into three risk categories:

• Category A: Low risk
• Category B: Medium risk
• Category C: High risk

High-risk activities require more time for compliance risk assessment. These activities include Forex, cryptocurrency, gambling, pharmaceuticals, commodities, MSB/PSP, precious metals, speculative trading, and more.

Private and corporate clients with permanent residency or tax residency in jurisdictions listed on the FATF gray list and/or the bank’s own policies are also considered high risk. These lists are subject to change; please don’t hesitate to contact us to learn more.

After conducting KYC/AML checks, the bank will inform the client of the assigned risk level. Service tariffs are determined based on this indicator.

Note: The platform does not provide services to individuals or companies from countries on its blacklist. Contact us to learn about this list.

Cost of opening an account at a Kazakhstan bank

The cost of opening an account in Kazakhstan for non-residents of other countries is as follows:

• 199 USD for Category A clients;
• 299 USD for Category B clients;
• 499 USD for high-risk companies and individuals (Category C).

The account opening fee is charged once immediately after the first balance replenishment.

Payment platform tariffs

For different client categories, the payment system in Kazakhstan has established separate service and transaction tariffs.

Corporate Account Tariffs, Category A:

• Account Opening: 199 USD
• Monthly Maintenance: 29 USD
• Deposit in Cryptocurrencies: 0.25%
• Cryptocurrency Withdrawal/Transfer: 1.75%
• Cryptocurrency to Fiat and Crypto Exchange: Free
• Internal Transfer of Any Fiat Currency within the System: 0.25%
• Incoming Transfer/Payment (SWIFT): 0.75%
• Outgoing Payments within the System: 0.25%
• Withdrawal/Transfer of Funds via SWIFT: 1.25%
• Currency Exchange: 0%

Account Tariffs for Category B:

• Processing and Account Opening Fee: 299 USD
• Monthly Maintenance: 55 USD
• Cryptocurrency Deposit: 0.50%
• Cryptocurrency Withdrawal: 0.50%
• Cryptocurrency Exchange to Fiat and Between Cryptocurrencies: 0%
• Incoming Payments in Any Currency within the Payment Platform: 0.55%
• Incoming Currency Transfer/Payment (SWIFT): 1.25%
• Outgoing Transfers within the Payment System: 0.55%
• Outgoing Currency Transfers/Payments (SWIFT): 2.25%
• Currency Exchange: Free

Account Tariffs for Category C:

• Account Opening: 499 USD
• Monthly Commission: 75 USD
• Cryptocurrency Deposit: 1.0%
• Cryptocurrency Withdrawal: 2.25%
• Cryptocurrency Exchange: 0%
• Incoming Transfers within the System (Currency/Fiat): 0.75%
• External Currency Inflows (SWIFT): 1.75%
• Outgoing Internal Transfers: 0.75%
• Withdrawal/Transfer of Funds in Any Currency (SWIFT): 3%
• Currency Exchange Transactions: Free

Other fees for operations in the payment platform of Kazakhstan

Written Account Confirmation:	49 USD
Account Statement:	49 USD
SWIFT Transfer Cancellation Fee:	49 USD
Amendments, Account Closure:	$ 1.99
Exceeding Maximum Balance (Over 250,000 USD):	$ 4.99
Account Inactivity (1 Transaction per Month):	2.99 USD
Express SWIFT Transfer and Crypto Transaction:	77 USD
Transactions to/from High-Risk Countries (FATF Grey List or Offshore Jurisdictions):	250 USD
Manual Processing of Payments with Incomplete Information:	100 USD
Payments after 16:00:	250 USD
Online Banking, Dedicated Account Manager, and AML/KYC Verification:	Free

Note: Managers of the payment system in Kazakhstan may request documents confirming transactions.

Conclusion

You can open an account for both personal and corporate purposes in Kazakhstan’s online payment system, but it’s essential to consider all global norms, tariffs, and potential risks. In case a Kazakh bank, a neobank, or this payment system is not suitable for you, you can always find an alternative solution by contacting our experts for a free consultation or a one-hour, paid session (currently 300 euros, reduced, temporarily, from 500 euros), with an expert to thoroughly explain how we can help.