Kazakhstan FDI control
Produced in partnership with Sayat Zholshy & Partners
Kazakhstan FDI control

The following Competition practice note produced in partnership with Sayat Zholshy & Partners provides comprehensive and up to date legal information covering:

  • Kazakhstan FDI control
  • 1. What is the applicable legislation?
  • 2. Which government or other body (or bodies) reviews foreign investments?
  • 3. What is the scope of the foreign investment regime?
  • 3.1 Does it only apply to specific sectors or types of investors (eg foreign or non-EU/non-WTO)?
  • 3.2 Are there specific rules for certain types of investors (eg state-owned enterprises)?
  • 4. What are the triggers or thresholds for the regime to apply? What type of transactions are caught?
  • 4.1 Is there a minimum level of shareholding or a control test that applies? Are there any other thresholds that need to be met (eg based on turnover or market share)?
  • 5. Are there any exceptions that may apply?
  • 6. Is there any discretion to review transactions that do not meet any thresholds for review?
  • More...

A conversation with Arman Berdalin , partner, and Olzhas Daniyarov, senior associate at Kazakhstani law firm Sayat Zholshy & Partners, on key issues on foreign direct investment (FDI) control in Kazakhstan.

1. What is the applicable legislation?

When making an investment through the creation of a Kazakh company or in relation to the acquisition of a share in it, other relations between the company's participants related to their mutual rights and obligations are regulated by Kazakh legislation. However, when acquiring a share in a Kazakh company, it is possible to bring most of the issues to the level of regulation by foreign law when changing the corporate structure of the acquired company.

When an investor enters into an investment contract and other agreements signed on the basis of an investment contract, the legal relations of the parties are regulated by the law of the Astana International financial center or the Republic of Kazakhstan. However, it is worth noting that the conclusion of an investment contract is not mandatory for investors when making an investment and is mostly concluded to obtain investment preferences, discussed in the questions below.

To regulate specific issues related to investment activities in the territory of the Republic of Kazakhstan, please refer to the Entrepreneur code of the Republic of Kazakhstan.

2. Which government or other body (or bodies) reviews foreign investments?

  1. The state

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