Публикация была переведена автоматически. Исходный язык: Русский
An analytical overview of key legislative restrictions for foreign investors in Kazakhstan. Experts from SOLIS Partners break down which sectors have direct prohibitions, where special permits are required, and how to structure investments to comply with Kazakh law.
Kazakhstan remains one of the most attractive hubs for foreign investment in Central Asia. However, successful market entry requires not only economic calculations but also a deep understanding of the local legal landscape. The legislation of the Republic of Kazakhstan establishes a number of restrictions for non-residents, disregard for which can lead to significant financial and reputational risks.
In this article, Chingis Oralbaev, Managing Partner of SOLIS Partners, and the corporate law team outline the systemic restrictions and provide practical recommendations for foreign investors.
Foreign individuals and legal entities face two types of restrictions: direct prohibitions on certain types of activities and requirements to obtain special permits for owning stakes in strategic sectors.
- Security Services. Non-residents are prohibited from establishing security organizations, participating in their charter capital, and conducting any security activities (Law of the RK "On Security Activities").
- Branches of Non-Resident Banks. The opening of branches of foreign banks in the territory of the RK is expressly prohibited by law. An alternative is the establishment of a resident subsidiary bank.
In these sectors, ownership of shares by non-residents is possible only under special conditions or upon obtaining permits from state authorities.
- Mass Media. The total share of direct and indirect ownership by non-residents in media cannot exceed 20%. This is a strict restriction aimed at protecting the media space.
- Telecommunications. Owning more than 49% of the voting shares in an intercity and international communications operator that owns terrestrial communication lines requires a positive decision from the Government of the RK, coordinated with national security authorities.
- Financial Sector (Banks and Insurance). Non-resident founders are required to provide a document from the banking or insurance supervisory authority of their country confirming permission to own a share in a Kazakh company. This is a mechanism of mutual recognition at the level of supervisory authorities.
The Land Code of the RK establishes strict frameworks, critically important for agribusiness and real estate-related projects:
- Prohibition on Owning Agricultural Land. Foreign legal entities cannot own land plots intended for commercial agricultural production as private property.
- Restrictions in Border Zones. Land plots located in border zones are not provided to non-residents as private property.
- Lack of Permanent Land Use Rights. This right cannot belong to foreign land users.
Comment from a SOLIS Partners Expert:"These restrictions are not a whim of the legislator, but a tool for protecting the state's strategic interests. For an investor, violating them is a direct path to suspension of activities, large fines, and hostile takeovers. The correct legal investment structure, for example, using a partnership with a resident or creating a joint venture, makes it possible to legally navigate around some of these restrictions without conflicting with the law."
Our corporate law practice and M&A transaction support help foreign clients not just register a company, but create a reliable and viable legal structure for business in Kazakhstan.
We offer:
- Legal Due Diligence. A complete analysis of the chosen type of activity regarding all applicable restrictions for non-residents.
- Development of an Optimal Ownership Structure. Assistance in choosing between an LLP, JSC, partnership, or establishing a company in the AIFC to minimize risks.
- Interaction with Government Authorities. Preparation of documents and support in the process of obtaining necessary permits and approvals (including from the Government of the RK and national security authorities).
- Full Registration Cycle. Turnkey legal registration of a company, considering all corporate and tax nuances.
Want to discuss your project in Kazakhstan?Our lawyers will conduct an initial analysis and propose the optimal market entry solution.
- Phone: +7 (702) 038-50-68
- Email: solispartners.kz@gmail.com
- https://solispartners.kz
*Material prepared by the lawyers of the "Corporate Law/M&A" practice at SOLIS Partners. Information is current as of November 2025 and is based on the norms of the current legislation of the Republic of Kazakhstan. We recommend obtaining personalized legal advice before making decisions.*
Author: Chingis Oralbaev, Managing Partner, SOLIS Partners.
Website Tags: #ForeignInvestment #NonResidentsRK #CorporateLaw #LLPRegistration #M_A #BusinessInKazakhstan #LandLaw #SOLISPartners
An analytical overview of key legislative restrictions for foreign investors in Kazakhstan. Experts from SOLIS Partners break down which sectors have direct prohibitions, where special permits are required, and how to structure investments to comply with Kazakh law.
Kazakhstan remains one of the most attractive hubs for foreign investment in Central Asia. However, successful market entry requires not only economic calculations but also a deep understanding of the local legal landscape. The legislation of the Republic of Kazakhstan establishes a number of restrictions for non-residents, disregard for which can lead to significant financial and reputational risks.
In this article, Chingis Oralbaev, Managing Partner of SOLIS Partners, and the corporate law team outline the systemic restrictions and provide practical recommendations for foreign investors.
Foreign individuals and legal entities face two types of restrictions: direct prohibitions on certain types of activities and requirements to obtain special permits for owning stakes in strategic sectors.
- Security Services. Non-residents are prohibited from establishing security organizations, participating in their charter capital, and conducting any security activities (Law of the RK "On Security Activities").
- Branches of Non-Resident Banks. The opening of branches of foreign banks in the territory of the RK is expressly prohibited by law. An alternative is the establishment of a resident subsidiary bank.
In these sectors, ownership of shares by non-residents is possible only under special conditions or upon obtaining permits from state authorities.
- Mass Media. The total share of direct and indirect ownership by non-residents in media cannot exceed 20%. This is a strict restriction aimed at protecting the media space.
- Telecommunications. Owning more than 49% of the voting shares in an intercity and international communications operator that owns terrestrial communication lines requires a positive decision from the Government of the RK, coordinated with national security authorities.
- Financial Sector (Banks and Insurance). Non-resident founders are required to provide a document from the banking or insurance supervisory authority of their country confirming permission to own a share in a Kazakh company. This is a mechanism of mutual recognition at the level of supervisory authorities.
The Land Code of the RK establishes strict frameworks, critically important for agribusiness and real estate-related projects:
- Prohibition on Owning Agricultural Land. Foreign legal entities cannot own land plots intended for commercial agricultural production as private property.
- Restrictions in Border Zones. Land plots located in border zones are not provided to non-residents as private property.
- Lack of Permanent Land Use Rights. This right cannot belong to foreign land users.
Comment from a SOLIS Partners Expert:"These restrictions are not a whim of the legislator, but a tool for protecting the state's strategic interests. For an investor, violating them is a direct path to suspension of activities, large fines, and hostile takeovers. The correct legal investment structure, for example, using a partnership with a resident or creating a joint venture, makes it possible to legally navigate around some of these restrictions without conflicting with the law."
Our corporate law practice and M&A transaction support help foreign clients not just register a company, but create a reliable and viable legal structure for business in Kazakhstan.
We offer:
- Legal Due Diligence. A complete analysis of the chosen type of activity regarding all applicable restrictions for non-residents.
- Development of an Optimal Ownership Structure. Assistance in choosing between an LLP, JSC, partnership, or establishing a company in the AIFC to minimize risks.
- Interaction with Government Authorities. Preparation of documents and support in the process of obtaining necessary permits and approvals (including from the Government of the RK and national security authorities).
- Full Registration Cycle. Turnkey legal registration of a company, considering all corporate and tax nuances.
Want to discuss your project in Kazakhstan?Our lawyers will conduct an initial analysis and propose the optimal market entry solution.
- Phone: +7 (702) 038-50-68
- Email: solispartners.kz@gmail.com
- https://solispartners.kz
*Material prepared by the lawyers of the "Corporate Law/M&A" practice at SOLIS Partners. Information is current as of November 2025 and is based on the norms of the current legislation of the Republic of Kazakhstan. We recommend obtaining personalized legal advice before making decisions.*
Author: Chingis Oralbaev, Managing Partner, SOLIS Partners.
Website Tags: #ForeignInvestment #NonResidentsRK #CorporateLaw #LLPRegistration #M_A #BusinessInKazakhstan #LandLaw #SOLISPartners
Поделиться
