The Kazakhstan government recently amended the list of requirements that must be met by investors when applying for local authorities’ consent to allocate land plots for investment project implementation.
On 2 December 2024, the acting minister of foreign affairs of the Republic of Kazakhstan issued Order No. 11-1-4/664 (the Order) on amendments to the rules for a project to qualify as an investment project for the purposes of granting rights to land plots from the state approved by order of the minister of foreign affairs of the Republic of Kazakhstan No. 11-1-4/590 27 December 2021 (Rules). The Order became effective on 16 December 2024.
Under the Rules, an investor must confirm its financial capability (creditworthiness) to implement an investment project by submitting certain documents to the local state authorities in order to obtain their consent for land allocation. According to the Order, the documents that may serve as evidence of the financial capability (creditworthiness) of the investor is supplemented with the following:
Additionally, the Order sets out the following requirements for confirmation of the investor’s financial capability (creditworthiness) depending on the amount of investments into investment project:
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