Жарияланымдар

On 27 December 2017, Kazakhstan adopted a new Code on Subsoil and Subsoil Use for mining companies (the “Code”) to come into force six months after its official publication[1]. The Code will replace the current Law on Subsoil and Subsoil Use dated 24 June 2010 save for a limited number of provisions applicable to those subsoil users that will keep their subsoil use contracts without transitioning to relevant subsoil use licences.

In this article, SHAIMERDEN CHIKANAYEV outlines some of the key legal developments and challenges faced by the Islamic finance market in Kazakhstan in 2017 and provides an overview of some of the major factors that will shape the Islamic finance industry's growth and trends in Kazakhstan in 2018.

In keeping with GRATA’s practice of informing clients of important legal developments that might influence their business, we would like to draw your attention to some important upcoming legislative developments regarding the foreign exchange regulation and foreign exchange control.

Any company can and shall make a choice at a certain stage of its development. We made our choice and decided to penetrate regions. Now, it has been almost 3.5 years since we have expanded our presence all over Kazakhstan, but we faced many difficulties that we would like to note and share our experience with other consulting firms dealing with legal issues. This article is aimed to encourage firms to contribute in the regions’ development.

On 29 November 2017 the deputies of the Mazhilis of the Parliament of the Republic of Kazakhstan approved in the first reading draft law "On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan Regarding Regulation of Land Relations" (hereinafter referred to as the "Draft Law"), developed following the work of the Commission on Land Reform.

The President of Kazakhstan, Nursultan Nazarbayev, signed, on 28 December 2017, the Law of 28 December 2017 No. 128-VI on Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Issues of Information and Communication ('the Law'), with most of the provisions entering into force on 9 January 2018. The Law imposes additional duties of website operators and telecommunications operators, including the obligation to collect and store users' data.

On 29 December 2017 the Republic of Kazakhstan has ratified the Convention on avoidance of double taxation with Ireland[1] and the Protocol thereto (hereinafter – the ‘Convention’).

GRATA International contributed to LexisNexis Mergers & Acquisitions Law Guide 2018. The publication is featured under the Special Focus - One Belt One Road China Investment section.

Since 1991, Kazakhstan, Central Asia’s largest economy and oil producer, has had to rely on the deteriorating infrastructure it inherited from the Soviet Union. As a result, nearly every piece of public infrastructure (e.g., roads, hospitals, power plants, kindergartens, sewerage) in Kazakhstan requires a different degree of upgrading or expansion. It is expected that proper PPPs and project finance deals will finally take off in Kazakhstan in the near future, firstly because proper legislation on PPPs has been put in place in 2015 and, secondly, after decades of neglect, the government of Kazakhstan has finally not only declared, but seems to confirm its readiness to improve the investment climate and to attract private investments through PPPs (including into the housing and utilities sector) and decided to invest at least part of the wealth from commodity exports in long-postponed infrastructure projects.

Over the past 25 years Kazakhstan has developed its own financial sector, which is considered to be the most advanced in Central Asia. With the evolution of financial sector and the complexities of key players involved, the need for regulation of dealing with data arose.