How to invest in Kazakhstan

Kazakhstan — one of the most developed economies in Central Asia with an operating stock market (AIX, KASE). Let's explore what opportunities are available for Kazakhstani investors.

Local Opportunities

Astana International Exchange (AIX). An international exchange in Astana with listings of large companies and ETFs. Operates under English law.

Kazakhstan Stock Exchange (KASE). A national exchange with local stocks and bonds.

This is a good start, but the choice of securities is limited compared to global exchanges.

Access to Global Exchanges

To purchase stocks like Apple, Tesla, Microsoft on NYSE and NASDAQ, Kazakhstani people have several options:

• International brokers (Interactive Brokers, Freedom Finance).
• Licensed brokers from neighboring countries with access to global exchanges.
• Banks with brokerage services (usually high minimum thresholds).

Licensed Tajik Broker as an Alternative

«Exchange Broker» — a licensed Tajikistan broker with four licenses from the Ministry of Finance of the Republic of Tajikistan. Provides access to NYSE, NASDAQ, and other global exchanges.

Opening an Account for a Kazakhstani Citizen

Step 1. Register through the app or website. A Kazakhstan passport is required.

Step 2. Complete KYC. Usually takes from several minutes to one day.

Step 3. Fund the account using international methods.

Step 4. Purchase your first stock or ETF.

What to Invest In

• U.S. Stocks. Apple, Tesla, Google, Microsoft.
• ETFs. S&P 500, Nasdaq 100, MSCI World.
• Bonds. Corporate and government.
• IPOs and Pre-IPOs. Shares of companies before and during stock exchange listing.
• Bitcoin ETFs. Regulated bitcoin securities.
• Halal securities. For Muslim investors.

Diversification: Local + International

Optimal strategy for a Kazakhstani investor:

• Core (50%). Global ETFs through an international or regional broker.
• Local stocks (30%). KazMunayGas, Kaspi, Halyk Bank through KASE/AIX.
• Speculative segment (20%). IPOs, individual stocks, crypto ETFs.

Commissions

• Buying stocks — 0.3% of the transaction amount.
• Selling stocks — 0%.
• Account opening — free.
• Securities storage in a depository — free.

Taxation in Kazakhstan

In Kazakhstan, income from the sale of securities is taxed at a rate of 10% (individual income tax). Dividends are also taxable. It is advisable to consult with a tax advisor.

Currency Control

Kazakhstan has relatively liberal currency legislation. International transfers for investment purposes are allowed but may require notification to the National Bank in some cases.

Risks

• Market risk. Stock prices may fall.
• Currency risk. Fluctuations of the tenge against the dollar.
• Regulatory risk. Changes in legislation.

💡 Try it: opening an account with a licensed broker in Tajikistan can be done in a few minutes. Top-up from 100 somoni, no office visit required.

Advertisement. LLC «Exchange Broker», licenses of the Ministry of Finance of the Republic of Tajikistan No.007/25, No.008/25, No.009/25, No.010/25 dated 25.06.2025. Financial instruments carry risk. Profitability depends on the market value of assets. Not an individual investment recommendation. For informational purposes only.