OREANDA-NEWS. June 23, 2014. Senate of Kazakhstan Parliament adopted the Law "On amnesty of Kazakhstan citizens, oralmans and persons who have a residence permit in the Republic of Kazakhstan, due to the legalization of their property" at the plenary session.

Deputy Prime Minister and Finance Minister Bakhyt Sultanov, presenting the bill, noted that money, securities, shares in the authorized capital, real estate in somebody’s name, real property located outside of Kazakhstan, buildings that meet constructional norms and designated purpose of the land are subject to legalization. Property obtained through the commission of crimes against the person, property, foundations of the constitutional system and state's security, environmental, corruption are not subject to legalization. In addition, the property, the right to which is being contested in court, the money received as loans are not subject to legalization.

Term of legalization is established from 1 September 2014 to 31 December 2015. Legalization of money will be held through second-tier banks, "Kazpochta". Legalized money will have to be in the account for at least 60 calendar months. By this deadline, the owner can invest the money in the economy of Kazakhstan by acquiring certain assets and securities. There are no dues in this case. If the subject of legalization will withdraw money from the account, or transfer them into another account, the dues of 10 percent of amount on deposit are paid. The same dues are paid in legalization of property located abroad.