Kazakhstan Is Luring Russian IT Billionaires With Citizenship And Tax Breaks

• 7.11.2026, 16:20

The country's laws prohibit dual citizenship.

Kazakhstan is attracting Russian tech entrepreneurs by offering them citizenship, favorable living conditions, and opportunities for business development. The latest recipient of a Kazakhstani passport is Alex Mashrabov , co-founder of Higgsfield —the creator of one of the fastest-growing platforms for generating videos using AI. Minister of Digital Development Zhaslan Madiev personally presented the entrepreneur with his passport, stating that the country “now has another billionaire,” reports Bloomberg.

Mashrabov graduated from the Moscow Institute of Physics and Technology, worked as an engineer at Yandex, and then at the American company Snap. In 2018, he founded AI Factory, and in 2023, together with Kazakhstani Erzat Dulat, he launched Higgsfield.

The company develops tools for creating videos using AI. According to its own data, its annual revenue has exceeded $1 billion, and the number of users has surpassed 40 million. A significant portion of the developers are based in Kazakhstan. In October, the startup announced that it had secured new investments from Nvidia and TCV as part of an expanded Series B round. In August, the company raised $400 million at a valuation of $5.4 billion.

Kazakhstan is actively building its image as a regional technology hub. Foreign investors who have invested more than $300,000 in the country’s economy are eligible for a ten-year visa and a residence permit. Separate benefits are provided for in-demand specialists.

According to Bloomberg, Mashrabov has already filed paperwork to renounce his Russian citizenship. Kazakhstani law prohibits dual citizenship.

Previously, the founder of inDrive Arsen Tomsky and the owner of Freedom Holding Timur Turlov received Kazakh passports.