November 07 2011
On July 15 2011 the president signed the Law on Amendments and Additions to Certain Legal Acts of the Republic of Kazakhstan Concerning Improvements to the Licensing System (461-IV). The aim of the law is to improve and simplify norms in licensing legislation and lighten the administrative burden for entrepreneurs by reducing the number of licences and permits required for business activities.
The law amends a total of 57 legal acts. The amendments are mainly focused on abolishing the norms used for issuing certain licensing documents, as well as cutting excessive requirements and shortening the waiting period from application to issuance. The law was officially published on July 30 2011 and will enter into force six months after its official publication.
In particular, the amendments to the Law on State Registration of Legal Entities, Branch Offices and Representative Offices provide that when registering the termination of a legal entity's activities, it is no longer necessary to submit an interim liquidation balance sheet and an official notification of approval to the judicial authorities.
Among other things, Law 461-IV removes licensing requirements for:
For other licensed activities, the term for considering licence applications (or attachments thereto) has been reduced from 30 working days to 15, except for activities involving nuclear energy use, financial services or activities related to the concentration of financial resources, for which the 30-day period has been retained.
In addition, the requirement to renew a licence (or attachment) in the event of a change in the description of the activity type or sub-type has been lifted, provided that this change does not involve a fundamental alteration in the operations being performed.
For further information on this topic please contact Yerzhan Kumarov or Sevil Gassanova at Macleod Dixon ELP by telephone (+7 727 311 24 80 88), fax (+7 727 311 24 89) or email (email@example.com or firstname.lastname@example.org).
ILO provides online commentaries as specialist Legal Newsletters. Written in collaboration with over 500 of the world's leading experts and covering more than 100 jurisdictions, it delivers individually requested information via email to an influential global audience of law firm partners and international corporate counsel. Please click here to register for the service.
The materials contained on this website are for general information purposes only and are subject to the disclaimer.
ILO is a premium online legal update service for major companies and law firms worldwide. In-house corporate counsel and other users of legal services, as well as law firm partners, qualify for a free subscription. Register at www.iloinfo.com.