Legalization of capital and property kicks off in Kazakhstan

    Kazakhstan is starting legalization of capital and property from today in accordance with the law of Kazakhstan on “amnesty of citizens of Kazakhstan, repatriates, and persons holding a residence permit in Kazakhstan in connection to the legalization of property.”
    The law is aimed at legal regulation of public relations in the field of legalization of property, including the money previously deduced from legal economic circulation. The law has defined the types of crimes and offenses for which amnesty is being applied.
    The legalization of capital will help reduce shadow economy, attract additional funds and investment to Kazakhstan's economy, said Finance Minister Bakyt Sultanov.
    The capital and property legalization will be held within September 1, 2014 - December 31, 2015.
    The aim of the campaign is raise additional funds to Kazakh economy in the form of legalized capital. This includes both movable and immovable property located on the territory of the country and abroad.
    The persons entitled to participate in the campaign should be citizens of the Republic of Kazakhstan, repatriates and people who have a residence permit in Kazakhstan, according to AKIpress.kg.