The General Prosecutor’s Office of the Republic of Kazakhstan issued an order earlier this year providing a proactive protection of rights and interests of investors in Kazakhstan. This LawFlash summarizes key takeaways from...more
On 6 April 2024, Kazakhstan adopted a law that will amend and supplement certain legislative acts on doing business (the Law). The Law amends a number of fundamental national legislative acts, including the Land Code, the...more
This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the formula for calculation of the share of domestic value in a product....more
In its recent judgment in Tristan Oil Ltd v The Scheme Creditors (BVIHCM 2023/0120) the BVI Commercial Court (the Hon. Justice Paul Webster (Ag.)) has considered the question of when a party not bound by a scheme of...more
The Petition - On March 28, 2024, CC Metals and Alloys, LLC and Ferroglobe USA, Inc. (collectively, "Petitioners") filed an antidumping duty ("ADD") petition and a countervailing duty ("CVD") petition on imports of...more
On 21 December 2023, Mr Justice Waksman handed down his judgment in the second trial of the Eurasian Natural Resources Corporation (ENRC) saga. The judgment, along with its earlier companions, is extraordinary in many ways...more
A draft law, On ratification of the Specific Agreement between the Government of the Republic of Kazakhstan and the Government of the French Republic on Implementation of Cooperation in Combating Global Warming, was recently...more
The AIFC provides a favourable environment for companies registered there. It aims to attract investment in the Kazakhstan economy, develop local capital markets and engender the production of goods and services. As of 8...more
Heads of legal entities, founders (participants) of legal entities, individual entrepreneurs, and their spouses are now obligated to submit declarations on assets and liabilities as of 1 January. The obligation to submit...more
This LawFlash summarizes key takeaways from the recent amendments by the Kazakhstan government to the standard form of the power purchase agreement (PPA) for energy-producing organizations using renewable energy sources...more
Uzbekistan, Kazakhstan, Azerbaijan and Georgia have all set off on a journey of energy transition, but each of these countries is taking a path of its own, as Anton Konnov, Alexey Mareev and Arthur Minosyan explain....more
In general, foreign citizens and foreign legal entities (as well as Kazakhstan legal entities with foreign participation) have the same rights and bear the same obligations as Kazakhstan citizens and Kazakhstan legal...more
Legislative News - Subsoil Use - The Ministry of Energy has amended the Rules for monitoring subsoil users' compliance with the terms and conditions of subsoil use contracts regarding the annual scheduled / unscheduled...more
Recent changes to the Kazakhstan Tax Code introduced an additional condition for applying a double tax treaty when paying dividends in Kazakhstan. To illustrate the current regime, consider the following scenario wherein...more
I. Legislative News - Subsoil Use - - Ministry of Industry and Infrastructure Development ("MIID") has approved the Solid Commercial Minerals ("SCM") and Hydrocarbons Reserves Classification Methodology, as well as the...more
Kazakhstan President Kassym-Jomart Tokayev signed two laws on February 6: one on digital assets (the Law) and one introducing amendments to other legal acts concerning digital assets and informatization (Amendments Law). Both...more
Key Kazakhstan legal developments for the last two months and clarifications from the state authorities, case law news and legal publications have been discussed by our team. I. Legislative News - Environment - -...more
I. Legislative News - Environment - - The Government has approved the Rules of organisation and functioning of the Unified State System for Environmental and Natural Resources Monitoring (the “Unified System”). The...more
Introduction: Tokayev seeks to continue consolidating power - The 20 November ‘snap’ presidential election in Kazakhstan was a runaway victory for incumbent Kassym-Jomart Tokayev, who received 81.3% of the vote. In line with...more
Legislative regulation of the financial market in Kazakhstan needs to be modernized to remain efficient and competitive. Therefore, on 12 July 2022, the President of the Republic of Kazakhstan signed the Law providing for...more
Key Kazakhstan legal developments and clarifications from the state authorities, case law news and legal publications have been discussed by our team. In particular, changes have been made to the methods of the valuation as...more
Nostrum Oil & Gas PLC’s scheme of arrangement under Part 26 of the Companies Act 2006 (the “Scheme”) was sanctioned on 26 August 2022, with the “scheme effective date” occurring on 31 August 2022. While the terms of the...more
Our Kazakhstan M&A team discusses the July highlights on key legal developments for energy, competition and subsoil use areas....more
The rules for taxation of dividends in respect of shares that are included in the official listing of a stock exchange in Kazakhstan will significantly change as of 1 January 2023....more
The Government of Kazakhstan has determined the conditions and procedure for designating a state-owned enterprise as JSC and LLP as the subject of a special right. It is worth a reminder that the term "special right" as a new...more