Can a foreign company purchase residential property in Kazakhstan

Although the vast majority of notaries in Kazakhstan believe that a foreign company (i.e. a foreign legal entity, the place of registration of which is not the Republic of Kazakhstan) can not have beneficially owned residential property in Kazakhstan, in fact, it is misleading.
Indeed, current legislation of Kazakhstan prohibits foreigners temporarily staying in the territory of the Republic of Kazakhstan to have beneficially owned residential property (by virtue of Article 9 of the Law of the Republic of Kazakhstan “On Legal Status of Foreigners”). 

However, this prohibition applies only to foreign individuals.

As for foreign companies, pursuant to Article 9 of the Law of the Republic of Kazakhstan “On Housing Relations” foreign legal entities in the Republic of Kazakhstan use the rights and bear responsibilities in housing matters on a par with legal entities of the Republic of Kazakhstan, unless otherwise stipulated by legislative acts of the Republic of Kazakhstan.

Any exceptions to this rule by other legislative acts of the Republic of Kazakhstan for foreign legal entities are not provided.

Thus, foreign legal entities are entitled without any restrictions on the right to have beneficially owned residential property and other real estate in Kazakhstan (houses, buildings, production and non-production facilities, etc.).

At the same time, foreign legal entities (non-state), as well as foreign citizens may have privately owned lands for the following purposes: construction, built-up production and non-production, including residential buildings (structures) and their complexes, including lands intended for the maintenance of buildings (structures) according to their purpose (paragraph 3 and 4, Article 23 of the Land Code of the Republic of Kazakhstan).

Exception to this rule is the lands intended for commercial farming, foresting and lands situated in the border zone and the borderland of the Republic of Kazakhstan (paragraph 4, Article 23 of the Land Code of the Republic of Kazakhstan).

Thus, foreign private legal entities (foreign private companies) can have beneficially owned residential property, building, structure, house, production and non-production facilities, etc. as well as the lands, which are used to service these objects.

If necessary, our company can provide services on legal support for foreign companies to buy residential property and other real estate in Kazakhstan.