Market Data 
It is high time the world’s largest landlocked country went beyond tourism promotion and began leveraging its liveability.
On Nov. 1, 2024, Kazakhstan introduced a year-long Neo Nomad (B12-1) Visa aimed at drawing remote workers to its shores, provided they earn a steady monthly income of at least $3000, are medically-insured for their duration of stay and have a clean criminal record. Although this offering is open to all applicants — irrespective of nationality — who meet the aforementioned criterion, the need to present an invitation letter is done away with for citizens of 48 predominantly OECD and GCC states that pose minimal migratory risk.
The visa takes a mere five days to process and can be extended for another year without having to leave Kazakhstan upon its validity period lapsing. Since recipients are financially self-sufficient and ineligible for local employment, the livelihoods of native Kazakhs are not imperiled by these newcomers. At the same time, the transitory nature of the B12-1 visa means its holders will likely opt for short-term rental accommodation and thereby exert limited, if any, upward pressure on domestic housing prices. More broadly, however, Kazakhstan has much to gain from marketing itself as “Canada of the East” in terms of immigrant-friendliness while also ensuring a pro-business, fiscally-attractive climate akin to that of Dubai or Singapore reigns supreme.
Needless to say, the legacy Group of Seven (G7) economies are no longer the ‘promised land’ or magnets for relocation they once were thanks to a marked erosion in living standards across the Euro-Atlantic space. The fact that Neo Nomad Visas have already been issued to nationals of the United States, United Kingdom, South Korea and Singapore among others bears testament to the ‘reverse migration’ trend underway whereby those from the most developed and prosperous jurisdictions are increasingly on the move. Should the current administration play its cards right and pursue a common sense, merit-based approach to immigration, Kazakhstan can emerge as a major beneficiary of the multipolar world order taking shape.
An expedited pathway to permanent residency for skilled professionals in ‘high-demand’ fields via the recently unveiled B9 and B9-1 Visas not only underscores Astana’s commitment to overseas talent retention but also societal enrichment. Having long prided itself on being a melting pot where people of various confessions, creeds and ethnicities coexist harmoniously, Kazakhstan will further cement its reputation as a beacon of tolerance by affording select foreigners a sense of belonging in the country. As far as optics go, disaffected Westerners settling down there en masse could prompt budding Kazakh émigrés to second-guess whether their future lies in Europe or North America and potentially help mitigate the brain drain still plaguing the Eurasian powerhouse.
In his annual State-of-the-Nation address last September, President Kassym-Jomrat Tokayev stressed the importance of empowering the indigenous workforce and strengthening the “health” of Kazakhstan which continues to haemorrhage its human capital. Launching a Digital Nomad Visa (DNV) scheme as opposed to the more lucrative yet controversial residence-by-investment (RBI) option was an astute move by the Ministry of Tourism and Sports. Had Kazakhstan gone down the path of several EU and ASEAN member states by granting so-called ‘Golden Visas’ to third-country investors in return for big-ticket ‘phantom property’ purchases or non-recoverable donations to the public sector, it would almost certainly have stood accused of helping wealthy Russians circumvent existing sanctions and found itself at odds with Europe.
DNVs, on the other hand, are a more palatable alternative tailored towards mobile specialists keen on establishing genuine links with the host country in question. When it comes to the ever-expanding pool of second-home seekers from the West or otherwise, Kazakhstan boasts untold selling points such as geopolitical neutrality, diverse topography, a rich heritage and unparalleled safety in its main metropolises. Additionally, the transition from retrograde ‘father of the nation’ leadership to a participatory form of governance following the 2022 Bloody January uprising coupled with a post-war cultural renaissance makes it an especially interesting time to be based in ‘New Kazakhstan’ – not to mention the bout of artistic creativity unleashed as a result of encouraging independent thinking and letting inhabitants’ imagination run wild. An in-depth article published by CNN four months ago describes how a formerly ‘drab’ and Soviet-esque Almaty has morphed into ‘Central Asia’s capital of cool’. Equally liveable and well-connected with key aviation hubs in Europe and Asia is the administrative capital Astana. In particular, the Astana International Financial Centre (AIFC) underpinned by English Common Law has proven to be a key pull factor for expatriates from ‘first-world democracies’ with a background in banking. Astana Hub is likewise at the forefront of roping in tech entrepreneurs and innovators from abroad while incubating organic start-ups. Ongoing conflicts in Eastern Europe and West Asia coupled with simmering tensions in the Indo-Pacific region are fuelling the appetite for ‘domicile diversification’.
Despite being an obvious go-to sanctuary for individuals or families looking to buffer themselves against turmoil and instability elsewhere while simultaneously maintaining an enviable quality of life, Kazakhstan remains something of an ‘overland destination’ as thousands of affluent Americans and Brits flock to the likes of Southeast Asia or the Persian Gulf instead. There has been a similar exodus of millions of middle-class Chinese and Indians making a beeline for greener pastures, notwithstanding both countries’ robust GDP growth over the past decade. In light of registering a record-breaking 11.5 million international arrivals last year, Kazakh authorities should use their successful tourism push as a stepping stone to welcome long-term residents – with Neo Nomad Visas being their weapon of choice.
[Image credit: DALL·E]
Saahil Menon is an investment analyst based in Dubai. The views and opinions expressed in this article are those of the author.
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