Kazakhstan Chamber of Commerce in the USA

KazCham


Kazakhstan presents a new package of incentives for foreign investors

Posted on July 14, 2014 by KazCham
Colibri Law Firm
Minister of Economics and Budget Planning of the Republic of Kazakhstan Mr. Erbolat Dosaev presented a new package of incentives for foreign investors at the International Investment Conference in Astana on 2 May 2014. The set of the following amendments to the respective laws and regulations of the Republic of Kazakhstan will be introduced to the Parliament in June-July 2014.
– Visa facilitation; unilateral visa-free travel for the citizens of certain developed countries with the period of stay up to 90 days; as well as issuance of investors visas to the management of local subsidiaries of the foreign companies.
We note, that beginning 15 February 2004, certain types of business, tourist and private visas are issued to the citizens of 45 developed countries without official invitation.– Investors will have an opportunity to employ foreign stuff for the period of the investment project and one year after its completion outside the quota and without work permit.
We note, that currently foreign employees are required to obtain a work permit, except for the secondees who are entitled to a 120 days stay under a regular business visa within one calendar year.– Legislative 10 years stabilization clause, freezing the forecasted and regulated tariffs and prices in tax, migration and ecologic spheres.– Implementation of the OECD recommendations re international commercial arbitration. 

– Additional incentives for the investment projects of TNCs: investment subsidies of the State compensating up to 30 per cent of capital expenditure upon putting the facility into service; exemption from corporate income tax for 10 years; long-term secured order of goods and services from national companies and state authorities. 

– One-window procedure for all licenses and permits as well as queries of the investors will be carried out by the Committee for Investments of the Ministry of Industry and New Technologies. 

We note, that in accordance with the existing Kazakhstan law, foreign investors refer for licenses, permits and queries to respective Ministries and other state authorities. – State subsidies covering utilities and transportation costs, increase of lease period of agricultural land.

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