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03 December 2024 | 21:32
Cross-border cash: What Kazakhstanis need to know about currency rules
Tengrinews.kz - What should Kazakhstanis keep in mind when carrying cash across the border? Massaget.kz discussed the topic with Beken Nurakhmetov, Deputy Head of the Altynkol-Zhol Customs Post of the State Revenue Department in the Zhetysu region.
ПОДЕЛИТЬСЯ
Tengrinews.kz - What should Kazakhstanis keep in mind when carrying cash across the border? Massaget.kz discussed the topic with Beken Nurakhmetov, Deputy Head of the Altynkol-Zhol Customs Post of the State Revenue Department in the Zhetysu region.
New rules: what to know about taking dollars out of Kazakhstan
Previously, travelers leaving Kazakhstan with over $10,000 only needed to declare the funds to cross the border without restrictions.
However, according to Nurakhmetov, significant changes have been made in the last 2.5 years. Under the Presidential Decree of March 14, 2022, titled "On Measures to Ensure Financial Stability in the Republic of Kazakhstan," the amount of cash that can be taken abroad must not exceed $10,000 (based on the National Bank exchange rate on the day of export).
"If the amount exceeds $10,000, travelers must inform customs officers either verbally or in writing. Customs officials may decide to return the excess or place it in temporary storage," he explained.
What constitutes a violation?
Attempting to take more than $10,000 without declaring it or hiding the funds is considered a violation of customs regulations.
Key violations include:
- Failure to declare or incomplete declaration (Article 551 of Kazakhstan’s Code of Administrative Offenses).
- Exporting amounts exceeding 10,000 monthly calculation indices (MCI) - 36,920,000 tenge - classified as economic smuggling (Article 234 of the Criminal Code).
"On July 5, 2024, amendments were made to the Code of Administrative Offenses. Previously, violators faced a fine of 10 MCI (36,920 tenge), and the excess amount was returned. Now, such cases are handled by the courts, not customs authorities," Nurakhmetov noted.
Penalties for violators
Nurakhmetov provided an example of how the new rules are enforced:
"Imagine a traveler tries to take $20,000 without declaring it. Of this, $10,000 is deemed unlawfully transported. The case is then referred to court," he explained.
"The court may impose a fine of 25 percent of the excess amount ($2,500) and confiscate the amount exceeding the limit ($10,000). In total, the violator loses $12,500. It’s crucial to follow the established rules," he emphasized.
Can foreign currency be brought into Kazakhstan?
According to Nurakhmetov, there are no restrictions on bringing currency into Kazakhstan. Residents and non-residents alike can bring in any amount, provided it is declared if necessary.
"The import of foreign currency improves the investment climate and promotes tourism. If the amount exceeds the set limit, it must be declared to confirm the legality of the funds and maintain accurate customs statistics," he explained.
Official data: currency violations persist
Despite stricter regulations, violations remain frequent. Over the first 11 months of 2024, 166 cases of illegal currency export were detected at the Khorgos customs post, amounting to a total of over $3 million.
Special discounts on train tickets on December 31 in Kazakhstan
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