The Legal 500

In this issue we would like to draw your attention to recent amendment to the licensing rules.

Following an unusual series of disagreements between the President and the Parliament of Kazakhstan concerning the President’s term of office, the Constitution of the Republic of Kazakhstan1 was amended recently -- fully in accordance with the law - - to allow for early Presidential elections. Specifically, the Parliament proposed a constitutional amendment that would have allowed a referendum on extending the current President’s term of office. However, the President did not support extending his term of office and submitted the proposed amendment to the country’s Constitutional Council, which declared the proposed amendment unconstitutional.

Russia, Belarus, and Kazakhstan will adopt new unified customs tariff and non-tariff regulations from January 1, 2010, and the Customs Union (the “CU”) of the three countries of the Eurasian Economic Community (the “EurAsEC”) will become a reality. The CU Customs Code (the “Customs Code”) is expected to take effect from July 1, 2010 to regulate the resulting integral customs zone.

Doing Business in Kazakhstan 2009 has been prepared as a general guide for companies operating in or considering investment into Kazakhstan. It is intended to present an overview of the key aspects of the Kazakhstani legal system and regulation of business activities in this country.

Should foreign companies continue to conduct mergers & acquisitions in Kazakhstan? What are the risks that they face? What are the new laws that the government plans to introduce and how will they affect investors?

Doing Business in Kazakhstan 2008 has been prepared as a general guide for companies operating in or considering investment into Kazakhstan. It is intended to present an overview of the key aspects of the Kazakhstani legal system and regulation of business activities in this country.