The Law of the Republic of Kazakhstan dated January 2, 2021 "On Amendments and Additions to Some Legislative Acts of the Republic of Kazakhstan on Economic Growth Recovery" (hereinafter - the "Law") developed a new instrument of attracting investments in Kazakhstan – Investment Agreement.
According to the Law, Investment agreements are characterized by the following:
- The sum of the investment of at least 7.5 million MCI (approx. USD 51.8 million);
- Legislative stability for 25 years, with a special focus on tax and labour regulations;
- No approved template or format of the Investment Agreement;
- Decrease of income tax for 100%, land tax and property tax shall not apply to this type of Agreement;
These support measures are applicable in the following sectors:
- Dairy cattle breeding;
- Other types of cattle and buffalo breeding;
- Meat processing and preservation;
- Agricultural and forestry machinery manufacture;
- Drugs production for veterinary purposes.
The Government of Kazakhstan is developing new investment initiatives, which will further affect the legislation of the Republic of Kazakhstan.
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