Blog of our mind

The Second Wave of Privatization

April 28, 2014

The second wave of privatization of state-owned organizations will be launched in Kazakhstan.

April 14, 2014 Umirzak Shukeyev, the Chairman of the Board of Sovereign Wealth Fund Samruk-Kazyna JSC, informed that the Fund is going to put up a third of its assets for privatization.

Enforcement of foreign judgments in England and Kazakhstan

April 9, 2014

There have been an impressive number of recent cases involving CIS parties (including Kazakhstan) heard in English courts. Although CIS companies and individuals frequently choose to litigate in London, there are very few reported cases concerning recognition and enforcement of judgments granted by the CIS courts in England and Wales.

The author has yet to experience Kazakh judgments to be enforced in England and Wales, however the recent Russian case JSC VTB Bank v Skurikhin and others [2014] EWHC 271 (Comm) clearly shows what position the English court might take.

Bringing to criminal liability of officials of organizations for tax evasion

April 2, 2014

We propose to consider the possibility of adoption by the Supreme Court of the Republic of Kazakhstan a Regulatory Resolution “On some issues of application by courts the legislation on criminal liability of officials of organizations for evasion of taxes and other obligatory payments to the budget”.

Administrative barriers to business development

March 28, 2014

In our practice, we often face with the so-called administrative barriers, which hinder development of entrepreneurship in Kazakhstan. We believe that other practitioners can identify many of such barriers, but we are going to focus only on those that are relevant today in accordance with our practice:

The President to Undertake Measures for Stimulating Business Development

March 13, 2014

On February 27, 2014 Nursultan Nazarbayev, the President of the Republic of Kazakhstan signed a Decree on measures for improvement of business environment in the Republic of Kazakhstan.

The Investment Ombudsman Institution in Kazakhstan

March 3, 2014

Over past years, Kazakhstan has been ameliorating the investment climate through development of instruments of state support stimulation of investments and protection of foreign investors.

The main legal act regulating activity of foreign investors in Kazakhstan is the Law on Investments, according to which, the purpose of state support of investments is in ensuring of a favourable climate for economic development and investment stimulation for creation of new production, extension and modernisation of current manufactures while applying cutting-edge technologies.