Category Archives:lawyer

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”).