Open a Bank Account in Kazakhstan

As a foreigner, opening a bank account in Kazakhstan is often a lengthy and uncertain process, in this article, I explain the steps to do it.

DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.

1. Go to the notary with your passport and get then to make a certified translation of your passport.
   Cost: 5000 KZT
   Timeline: Immediate or 1 business day
2. Go to TSON (Population Service Center) with your passport, the certified translation and apply for an IIN (Individual Identification Number). Depending on whether you are in Kazakhstan with a visa or not, they may also ask for some proof of residence.
   Cost: Free
   Timeline: Immediate or 1 business day
3. Once you have your IIN, print a copy, and go to the bank, ask to open an account. You will need to provide a copy of your passport, a copy of your IIN, and your passport.
   Cost: Most accounts are not free but the fees are really small
   Timeline: Immediate or 1 business day

Different types of bank accounts:

In Kazakhstan, the main current account is referred to as your “card”. This is where you can have money and this will be from where you make transfers or where you receive them.