If your company, in the course of its activities, employs foreign labor force, then you need to make a guarantee contribution for the labor force imported into the territory of the Republic of Kazakhstan so that to ensure the return of foreign specialists and workers to their country of habitual residence.
In order to obtain a permit for the hire of foreign labor force, employers are obliged to make a deposit for each foreign employee at the banks of the Republic of Kazakhstan.
Currency: tenge, USD
Terms (months): no reference to the term
*Interest rates: in tenge - 0.0% per annum, in USD - 0.0% per annum
Additional replenishments and withdrawals are possible
*interest rates on the “Employer’s guarantee fee for the import of foreign labor force into the Republic of Kazakhstan" deposit in % per annum, in tenge, are approved by the Decision of KUAP №115 as of 24.02.2011. Came into force on 01.03.2011. Interest rate in US dollars, in % per annum, is approved by the Decision of KUAP as of 04.06.2014. Came into force on 05.06.2014. Interest rates on the Conditional deposits in % per annum, in tenge and foreign currency are approved by the Decision of KUAP №484 as of 14.12.2017. Came into force on 25.12.2017.
The deposit provides for additional replenishments and withdrawals. Expenditure transactions are performed on the basis of a written permission of the employment authority (structural subdivision of local executive authorities (akimats), promoting employment among the population and social protection against unemployment at the regional level).
Documentation requirements for opening
Application for opening of temporary savings deposit