Meaning of currency operations and their types
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e territory of the Republic of Kazakhstan, as well as permanent representation of the Republic Kazakhstan to the interstate or intergovernmental organizations, the Republic of Kazakhstan, the subjects of the Republic of Kazakhstan, municipalities, which act in relations regulated by Monetary законодательством. Нерезидентами are, respectively, individuals that are not recognized by residents, legal entities and are not legal entities organizations established in accordance with the law foreign countries and having a location outside the territory of the Republic of Kazakhstan and their affiliates, permanent and other separate or independent business units in the territory of the Republic of Kazakhstan accredited to the Republic of Kazakhstan diplomatic missions, consular offices of foreign countries and permanent offices of designated States for interstate or intergovernmental organizations, inter-governmental and intergovernmental organizations, their branches and permanent establishments in the Republic of Kazakhstan, other persons who are not residentsconcept of currency values include foreign exchange and foreign securities.securities - are securities, including non-documentary, non-domestic securities, ie securities that are issued (registered) abroad and denominated in foreign currencies.better understand the differences between foreign and domestic securities must be borne in mind that for domestic securities are equity securities, whose nominal value is specified in the currency of the Republic of Kazakhstan and the issue of which is registered in the Republic of Kazakhstan, as well as other securities evidencing title to receipt currency of the Republic of Kazakhstan issued in the Republic of Kazakhstan.must be borne in mind that under the Act authorized banks understand credit institutions established in accordance with the laws of the Republic of Kazakhstan, as well as branches of foreign credit organizations, having the right under license Bank of Kazakhstan to conduct banking operations in foreign currency.as natural persons - residents are free to carry out foreign exchange transactions not associated with the transfer of property and provision of services in the Republic of Kazakhstan, with funds credited to the accounts (deposits) in banks abroad. In addition, individuals - residents have a right to without any limitations and without the use of accounts in authorized banks to give currency values spouse and close relatives leave currency values and receive them by inheritance, acquire and dispose of single banknotes and coins to collectors, buy from an authorized bank or sell the authorized bank cash foreign currency exchange, bank notes to replace the foreign state, to pay in foreign currency at duty free shops and the purchase of goods and services sold or provided to them in transit vehicles in international traffic.bank accounts to private individuals - resident may make transfers of funds from the Republic of Kazakhstan and the Republic of Kazakhstan to receive transfers in the manner prescribed by the Bank, which may include only the amount of transfer restriction, as well as money orders., in accordance with the Instruction of the Bank of the Republic of Kazakhstan of 30.03.2004 №1412-U, a natural person - resident has the right to translate from the Russian Federation without opening a bank account at an authorized bank foreign exchange or currency of the Republic of Kazakhstan in an amount not exceeding the equivalent of 5000 dollars. The U.S. is determined using the official exchange rates of foreign currencies against ruble set by the Bank of the Republic of Kazakhstan on the date of request to the authorized bank for the implementation of this translation. Getting a natural person - resident legal translations Bank of Kazakhstan has not been established.authorized foreign exchange transactions between residents and ranked, in particular, transactions relating to the payment of taxes, fees and other mandatory payments to the budget in foreign currency in accordance with the laws of the Republic of Kazakhstan; transfers a natural person - resident of the Republic of Kazakhstan to the benefit of other individuals - residents on their accounts opened at banks abroad, if transferred amount does not exceed a period of one trading day after an authorized bank an amount equal to the equivalent of U.S. $ 5,000 at the official rate of the Bank of the Republic of Kazakhstan, on the date debits from the account of the physical person - resident translation services by an individual - resident in the Republic of Kazakhstan from the accounts opened in banks abroad, in favor of other natural persons - residents in their accounts in authorized banks.exchange transactions of natural persons - residents to nonresidents. Currency operations between residents and nonresidents are done without any restrictions, except for certain foreign exchange transactions, in respect of which the special requirements established by the Law №411-II.respect to natural persons - residents of these operations include, inter alia, payments and transfers in the provision of loans in foreign currency by residents to nonresidents, obtaining credit and loans in foreign currency by residents from non-residents carrying out operations with foreign securities, including payments and transfers associated with the transfer of foreign securities (rights certified by foreign securities), the performance of obligations by residents of foreign securities.these cases, the Bank of the Republic of Kazakhstan may establish a requirement for the use of a special account natural person - resident (paragraph 2 of Art. 8 of the Law №411-II), which is a bank account at an authorized bank or securities account special section, the registrar or opened in register of holders of securities of a special section account for recognition of the rights to the securities used to implement it on foreign exchange transactions.addition, the implementation of these foreign exchange transactions, as well as in the case of settlements and transfers in the lending and borrowing in the currency of the Republic of Kazakhstan residents to nonresidents, operations related to the acquisition by residents from non-residents rights to domestic securities, including payments and transfers related to transfer of domestic securities (rights certified by domestic securities), the performance of obligations by residents on domestic securities the Bank may also establish a reserve requirement by a natural person - resident for a certain period a sum of money, calculated as a percentage of a particular currency transactions. It should be borne in mind that according to Article 9 hours. 8 of the Law of the Republic of Kazakhstan requires the use of a special account and the resident (or) the reserve requirement for currency transactions between individuals - residents and nonresidents with foreign securities, including payments and transfers related to the acquisition and disposal of foreign securities (rights certified foreign securities) may be set by the Bank of the Republic of Kazakhstan only if the transactions are valued at over U.S. $150000 in a calendar year. Foreign exchange transactions with foreign securities worth up to U.S. $150000 in a calendar year by individuals - residents without restrictions.use of special accounts by residents and nonresidents with currency transactions governed by the Regulations of the Bank from 07.06.2004 №116-I (in the red. From 16.12.2004). For individuals - residents of a special account set F, which opens for settlements and transfers in the provision of resident non-resident borrowing in foreign currency and receipt of non-resident loans in foreign currency to purchase a nonresident and the exclusion of non-resident foreign securities, including payments and transfers related to the transfer of foreign securities (rights certified by foreign securities). The remaining transactions between natural persons - residents and nonresidents are done without the use of special accounts.and transfers of residents in obtaining loans and foreign currency loans from non-residents, if on the basis of the relevant loan agreement or loan contract period of repayment of principal is more than three years, carried out by residents without the use of special accounts.carrying out operations with foreign securities using a special account, F to an individual - resident opened a special section of the securities account F to account for foreign securities.special section called the depositary - professional securities market participant who is licensed to engage in depository activities, under a contract with a resident. A natural person - resident has the right to open any number of special foreign currency accounts in one or more of the authorized banks. Thus, in accordance with the Regulations of the Bank of the Republic of Kazakhstan of 15.06.2004 №117-natural persons - residents in carrying out foreign exchange operations with the use of special accounts F shall submit to the authorized banks of the documents specified in the Regulations.regard to the requirements of the Bank of the Republic of Kazakhstan on the reservation, at the present time such claims to the special account F is not set (see the Bank of Russia of 29.06.2004 №1465-U, as amended. From 29.03.2006).addition to these cases, the use of a special account and reservation resident could be established by the Government of the Republic of Kazakhstan in coordination with the Bank in case the settlement and transfer of funds on the acquisition of a natural person - resident of a non-resident of shares, deposits, shares in the property (authorized or partnership capital, stock capital of a cooperative) legal entities, making a natural person - resident deposits under a partnership with