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.
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 capitalamount 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
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.
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.
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
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.