Corporate governance 2016: Kazakhstan
Under Kazakh law, all legal entities fall into two categories, depending on whether or not the acquisition of profit is the main purpose of their activity: commercial organisations; and noncommercial (non-profit) organisations.
Shareholders’ agreement is a tool for the contractual regulation of relations between shareholders/participants of companies that is widely used in jurisdictions of the Anglo-Saxon legal system (in particular, the UK and the US), but also recognized and regulated by the laws of countries that have continental legal systems (including Russia, Germany and Italy).
Kazakhstan is among the world’s top 10 exporters of wheat which is by far the country’s most important agricultural commodity, well-known for its modernization of harvesting techniques.
Major Kazakhstan legislation changes for 2015
In keeping with GRATA’s practice of informing clients regarding important legal developments that might influence their business, allow us to draw your attention to the following changes in Kazakhstani legislation that occurred during 2015.