Kazakhstan set to introduce investor visa for foreign businesspeople

Kazakhstan intends to introduce an investor visa for foreign businesspeople, who have put at least US$300,000 in the country’s economy, the Kazakh Ministry of Labor and Social Protection of the Population notes. It was previously reported that foreign entrepreneurs will be entitled to get a visa valid for 10 years, with the right to obtain a residence permit. First of all, the investments in the fixed capital of enterprises, the creation of industrial production of high value-added products and the provision of services will be taken into account, that is, focus will be placed on those investments that will have a multiplier effect on the economy of Kazakhstan. It is also planned to use the potential of ethnic Kazakhs.

“In order to maintain a close relationship of ethnic Kazakhs living abroad with their historical homeland and to implement their successful business cases, it is proposed to introduce a special card named Ata Zholy. Holders of this card will be entitled to a simplified visa and the right to temporary residence for up to 10 years,” Nazgul Sagindykova, Acting Kazakh Vice Minister of Labor and Social Protection of the Population, said.