Acquisition of real estate in Kazakhstan. Residence permit or opening of a legal entity as a solution
Foreigners living in Kazakhstan often think about acquiring their own housing. In this article we will look in detail at two main ways for foreign citizens: obtaining a residence permit and establishing a legal entity.
ACQUISITION OF HOUSING
Obtaining a residence permit to purchase real estate
One of the most common ways for foreigners to acquire housing in Kazakhstan is to obtain a residence permit. This document confirms the right of a foreign citizen to reside permanently in the country and grants him a number of rights similar to those of citizens of the Republic of Kazakhstan.
Advantages of a residence permit:
- The right to purchase real estate (apartment or house) in the territory of Kazakhstan.
- Possibility to reside in any region of Kazakhstan.
- Exemption from the need to obtain a visa to enter and leave the country.
- No obligation to notify about arrival or change of address.
- The right to work without obtaining a work permit.
- Possibility to purchase vehicles.
- Ability to become a founder of a legal entity in the territory of the Republic of Kazakhstan without obtaining a C5 visa and a residence permit for business immigrants.
- Ability to open a sole proprietorship (only for some countries).
The procedure for obtaining a residence permit may take from 2 to 3 months. Once the document is obtained, the foreigner is exempted from most migration obligations, such as visa formalities or notification of stay.
Important: in order to obtain a residence permit, a foreign citizen must first obtain a B8 visa, which allows a stay on the territory of Kazakhstan for up to 90 days. The B8 visa can be obtained at the consular offices of Kazakhstan in the country of citizenship or on the territory of Kazakhstan if a C3 work visa is available. Earlier there was an option to get a B8 visa on the territory of Kazakhstan if you came under the visa-free regime for 48 economically developed countries. Now the situation differs in different regions and it is better to clarify the issue at the time of application.
Opening a legal entity
The second option for foreigners wishing to acquire real estate is to establish a legal entity with foreign participation. Legal entities with foreign participation have no restrictions on the acquisition of real estate in Kazakhstan, which makes this option available to entrepreneurs.
Advantages:
- The ability to acquire real estate on a legal entity, without the need to obtain a residence permit.
- The founder of the legal entity may reside both in the territory of the Republic of Kazakhstan and abroad.
Foreign nationals wishing to buy a share or establish a legal entity in Kazakhstan must obtain a C5 visa for business immigrants or a business immigrant’s temporary residence permit (TRP), depending on the country of citizenship.
A C5 visa is required for all foreign nationals wishing to establish a legal entity or buy a share in an existing business, except for citizens of the EAEU and some CIS countries.
The procedure consists of several stages:
- Obtaining a single-entry C5 visa at the consular offices of the Republic of Kazakhstan in the country of citizenship or permanent residence for up to 90 days.
- Arrival in Kazakhstan and registration of a legal entity or buying out a share of an existing business.
- Renewal of C5 visa for up to 12 months if there is a need to continue staying in Kazakhstan.
TRP (temporary residence permit) with the status of a business immigrant is required for citizens of the EAEU and other CIS countries with visa-free regime in the Republic of Kazakhstan to register a new legal entity or to buy out a share of an existing business.
The procedure for obtaining a temporary residence permit with the status of business immigrant consists of several stages:
- Entry into the Republic of Kazakhstan and obtain a primary residence permit with the status of business immigrant for up to 90 days.
- Registration of a legal entity or buying out a share of an existing business.
- Extension of the temporary residence permit for up to 12 months, if necessary.
Restrictions on land acquisition by foreigners
We consider it important to note that these options relate to real estate, but not to land. In Kazakhstan there are strict restrictions on the acquisition of land plots by foreign citizens. According to the Land Code of the Republic of Kazakhstan, foreigners cannot become owners of agricultural land. The exception is the land plots withdrawn for the purposes of development or under the service of residential, commercial structures in accordance with their purpose.
Can a foreigner married to a citizen of Kazakhstan purchase housing?
A foreigner may not purchase housing directly in his/her own name without a residence permit in Kazakhstan. However, the foreign spouse when buying housing will also actually become the owner of a share in this housing.
Are you going to get a residence permit? What package of documents should be prepared, as well as what is the procedure for filling them out? What are the deadlines for submission and how should a foreigner be interviewed by an Migration Authority officer in order to minimize the risks of refusal to issue a residence permit?
Our immigration consultants are ready to provide support in obtaining a residence permit for a foreigner and will accompany the foreigner from the beginning of the procedure to the final moment of obtaining a residence permit, as well as provide all the necessary information after obtaining it.