The country is going to adopt a new law on investment visas this year / Shutterstock
The government of Kazakhstan is planning to complete the development of investment visa legislation in June 2023. Once the draft law is ready, it will be sent to the parliament for further consideration, the Ministry of Labor and Social Protection said.
If the new law is adopted, any foreign investor who is ready to invest more than $300,000 in Kazakhstan can apply for a long-term investment visa.
According to a person familiar with the matter, the draft law is almost ready.
The introduction of investment visas is part of a new migration policy that Kazakhstani authorities have been pivoting to in order to fulfill the initiatives announced by President Kassym-Jomart Tokayev in his national address on September 1, 2022.
The government is expected to provide foreign investors with a 10-year residence permit and the right to run a business and conduct a variety of financial operations.
Apart from investment visas, the country is planning to introduce specified skilled workers visas that would allow Kazakhstan to attract highly skilled foreigners working in those industries where Kazakhstan sees a lack of qualified specialists.
The government believes that the new legislation will make it possible for Kazakhstan to attract about 100 investors a year, the labor ministry highlighted.
