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Kazakhstan to introduce investment visa for foreign businessmen

Kazakhstan Materials 6 September 2022 16:31
Kazakhstan to introduce investment visa for foreign businessmen

BAKU, Azerbaijan, September 6. Investment visas for foreign businessmen will be introduced in Kazakhstan, Minister of National Economy Alibek Kuantyrov said during the governmental meeting, Trend reports.

According to Kuantyrov, this is envisaged in the draft national action plan for the implementation of President Kassym-Jomart Tokayev's address on "Just state, a single nation, prosperous society".

He noted that the draft consists of a set of systemic and sectoral measures for 109 activities in six directions aimed at increasing the stability and competitiveness of the economy and the qualitative improvement of the welfare of citizens.

So, 37 activities will be implemented in the “Strategic investments in the country’s future” direction.

As part of the "Comfortable school" new national project, schools for 800,000 students will be built by 2025 to address the problems of dilapidated and three-shift schools.

A national project on "Modernization of rural healthcare" is being elaborated to meet the needs of rural residents in the sphere of medicine. Besides, measures will be developed to comprehensively improve the medical infrastructure through public-private partnerships. The development of new national projects in the areas of healthcare and education is at the final stage.

Moreover, legislative amendments will be adopted to introduce a moratorium on raising the retirement age for women to 61 until 2028, setting and increasing the period of assigning payments for child care from January 1, 2023, to one year and five months.

The number of social benefits in case of job loss for the social insurance system participants from the State Social Insurance Fund of Kazakhstan will be increased to 45 percent of the average monthly income.

Since January 1, 2024, it’s also planned to launch the National Fund for Children project envisioning allocation of 50 percent of the national fund’s annual investment income to special savings accounts for children upon reaching the age of 18 with the possibility of its subsequent use for the purchase of housing and education.

At the same time, at least seven percent of the net income of the Samruk-Kazyna Fund will be transferred annually to the “Kazakstan Halkyna” Public Fund. The corresponding document is planned to be adopted before the end of this year.

In order to introduce an investment visa to foreign businessmen who have invested more than $300,000 at a time in the country's economy, changes will be made to the concept of migration policy and the law "On population migration".

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