OREANDA-NEWS. May 30, 2014. Majilis approved in first reading the draft law "On amnesty of Kazakhstan citizens, oralmans and persons who have a residence permit in the Republic of Kazakhstan due to the legalization of property ".

"The objects of legalization include the following property. First, money, securities, and interest in the authorized capital of the entity. Second, buildings fit for purpose and building regulations. And the land where legalized objects are located should belong to the subjects of the legalization on the right of ownership. Third, buildings in inappropriate person’s name. Fourth, property situated outside the Republic of Kazakhstan," Finance Minister Bakhyt Sultanov said presenting the bill.

The Minister stressed that a property received as a result of certain crimes - crimes against the person, constitutional and other rights and freedoms, the constitutional order and security of the state, also as a result of corruption and other offenses and crimes against the interests of the public service are not subject to the legalization. Subjects of legalization exempt from criminal and administrative responsibility for a number of articles.

Duration of the campaign is from 1 September 2014 to 31 December 2015. 10 percent fee will be charged for the legalization of money and property located outside of Kazakhstan. Legalized money will be credited to the special savings accounts in banks and kept there for 5 years, with interest income at market rates. If early use of money s desired, one can invest them in the economy by purchasing government securities, bonds, of STB, National Holding Company, the shares sold under the "People's IPO", and other securities on the Kazakhstan Stock Exchange. Legalized money and property will not be subject to income tax.