Blog of our mind

Penalty – as security of obligations under supply agreement

January 27, 2015

Unlike state procurement supply agreements which in most cases require to provide a bank guarantee as a security of obligations, in simple supply agreements the obligations performance very oft are secured by penalty only.

Charter capital as security for activity of Limited Liability Partnership (LLP)

January 21, 2015

Dura lex, sed lex


Law “On amendments to certain legal acts of the Republic of Kazakhstan  dedicated to dramatic improvement of conditions for entrepreneurial activity in the Republic of Kazakhstan” No 269-V ЗРК was adopted on December 29, 2014 (hereinafter the “Law”). This Law stipulates certain new provisions in several legislative acts, among such provisions is amending Article 23 (2) of Law on Limited Liability Partnerships (LLP(s)). As per the amended article 23, the minimum charter capital[1]amount of an LLP that fall under category of small-scale,  is establish

Some legislative restrictions for foreign (non-governmental) legal entities in the Republic of Kazakhstan

January 13, 2015

Since gaining independence, one of the priorities of the state policy of the Republic of Kazakhstan is to maintain a favorable investment climate and further promotion of foreign direct investments in the country.

The novelty of permits system of Kazakhstan

December 29, 2014

In November 2014 came into force the Law “On permits and notifications” (hereinafter – the Law), which is addressed to the most effective way of consumer right protection by the reasonably required burden on entrepreneur.

Reflections on the restriction of foreign law firms’ activities in Kazakhstan

November 18, 2014

The Majilis Parliament of the Republic of Kazakhstan has recently discussed an issue of restricting the activities of foreign law firms in Kazakhstan at the round table meeting dedicated to the issues of the legal services regulation. The material can be accessed through the following link.

Investment grants

November 5, 2014

As is known this summer dramatical changes were made into the laws on investments in frames of increase of investment attractiveness of the state.


One of key changes for attraction of investors is so called investment subsidies, which imply compensation of 30% of factual expenditures associated with construction and purchase of equipment within the project.