The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan published an overview of the personal bankruptcy mechanism for individuals who can no longer meet obligations to creditors, setting out when bankruptcy can be pursued through the courts versus an out-of-court process. It positions bankruptcy as an exceptional measure and recommends considering alternatives first, including applying to the creditor for debt restructuring. Out-of-court bankruptcy is available for debts up to 1,600 AEK (around KZT 6.9 million) if set conditions are met, including having no property, not servicing obligations for 12 consecutive months, and undergoing a debt settlement procedure; filings are made via the eGov.kz and Tazalau.kz electronic services and are reviewed by the State Revenue Committee of the Ministry of Finance. A separate out-of-court pathway is предусмотрен for citizens with debts up to 1,600 AEK and payment delays exceeding five years, allowing applications regardless of whether the debtor has property and without conducting debt settlement, with the review period for such applications shortened from six months to one month from March 2026. Court bankruptcy applies when the debtor has property or in other cases outside the out-of-court scope, and the agency highlights statutory consequences including a five-year ban on taking new loans (excluding pawnshop microcredits) and, in court bankruptcy, potential restrictions on leaving Kazakhstan (subject to exceptions in law).

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