Bankruptcy procedure of individual persons.
The State Revenue Department of East Kazakhstan Region wants you to know that as of March 3, 2023, the Law of the Republic of Kazakhstan "On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan" (hereinafter-the Law) has been in effect.
This Law introduces three procedures for individuals to resolve debt issues: out-of-court bankruptcy, judicial bankruptcy, and solvency restoration.
The out-of-court bankruptcy procedure applies to debts under 1,600 MCI owed to banks, microfinance organizations, and collection agencies (debts not exceeding 6.2 million tenge). Applications can be submitted through the e-government portal (eGov.kz) or via the mobile applications e-Salyq Azamat and eGov Mobile.
This procedure lasts for six months, after which the bankrupt's obligations are subject to termination.
Since the Law came into force on March 3, 2023, a total of 6,491 applications for out-of-court bankruptcy have been submitted in the East Kazakhstan Region as of June 1, 2025. 4,671 applications were rejected, 1,078 applications are currently under consideration, 742 applications have been completed .
Consequently, as of June 1, 2025, 742 citizens have been declared bankrupt through this procedure. This has resulted in the write-off of 2 123 572 686,90 tenge in debts owed to second-tier banks, microfinance organizations, and collection agencies.
Citizens can apply for judicial bankruptcy if their debt to banks, microfinance organizations, and collection agencies exceeds 1,600 Monthly Calculation Indices (MCI). This procedure is also applicable for other types of debts, regardless of the amount, or if the individual possesses any property.
126 applications have been received for applying the judicial bankruptcy procedure in the East Kazakhstan region. Of these, 56 applications have been rejected, 50 applications have been accepted, and 20 are under consideration in court. Of the 50 accepted applications, the case was terminated at the appeal stage for 6 applications, 15 are currently in the procedure (the deadline has not yet been completed), and 29 are completed, meaning they were declared bankrupt for a total amount of 6 361 852 888,7 tenge.
The solvency restoration procedure offers the option of securing court-approved installment plans for debt repayment, extending up to five years. A key advantage of this process is that individuals do not acquire "bankrupt" status upon its completion, thus avoiding the associated consequences of bankruptcy.
40 applications have been received for the solvency restoration procedure in the East Kazakhstan region. This total includes: 11 applications that were rejected. 16 applications that are currently under consideration. 13 individuals who have been granted 5-year installment plans, totaling 142 897 950, 83 tenge.