1. BACKGROUND
As is known, during the 27th session of the Foreign
Investors' Council held on 12 June 2014, the President of
Kazakhstan Mr. Nursultan Nazarbayev announced the establishment of
a unilateral visa-free regime for citizens of 10 countries, which
most actively invest in Kazakhstan, specifically for the UK,
Germany, Italy, Malaysia, the Netherlands, the UAE, the Republic of
Korea, the USA, France and Japan1.
At the same date the President signed the Law for
Introducing Amendments to Various Legislative Acts on Issues
Relating to the Improvement of the Investment Climate (the
"Law"), which enters into force from 24
June 2014.
The Law made significant amendments to the Kazakhstan Law on
Investments dated 8 January 2003 (the
"Investments Law") and the
Kazakhstan Tax Code dated 10 December 2008 (the
"Tax Code"). Minor amendments were also
introduced to the laws on employment, on concessions, on migration
and on natural monopolies and regulated markets.
