Article 38. Creation of the management company of the Special Economic Zone of the Law on Special Economic and Industrial Zones

Home / RLA / Article 38. Creation of the management company of the Special Economic Zone of the Law on Special Economic and Industrial Zones

 1. After the enactment of the decree of the Government of the Republic of Kazakhstan on the establishment of a special economic zone, the Government of the Republic of Kazakhstan or the local executive body of the region, city of republican significance, capital must decide on the establishment and (or) participation in the creation of a management company of the special economic zone in the organizational and legal form of a joint-stock company or limited liability partnership.

2. In the case of the creation of a special economic zone, the founders of the management company may be:

1) The Government of the Republic of Kazakhstan;

2) the local executive body of the region, the city of republican significance, the capital.

A management company may also be established with the participation of a non-governmental legal entity, including a foreign legal entity with experience in managing special economic zones in other countries or the Republic of Kazakhstan, taking into account the specifics established by the legislation of the Republic of Kazakhstan on joint-stock companies.

At the same time, the state in the established management company should own no more than twenty-six percent of the shares in the authorized capital (voting shares) of the management company.

IZPI's note! Part 4 of paragraph 2 is amended by the Law of the Republic of Kazakhstan dated 06/24/2025 No. 196-VIII (effective sixty calendar days after the date of its first official publication).

The procedure for the sale to a non-governmental legal entity, including a foreign legal entity, of a state-owned block of shares in joint-stock companies or shares in the authorized capital of limited liability partnerships is carried out in accordance with the procedure established by Article 105 of the Law of the Republic of Kazakhstan "On State Property".

State-owned shares in the authorized capital (voting shares) of management companies may be transferred to the trust management of a single coordination center.

3. A non-governmental legal entity, including a foreign legal entity, may be designated as the management company of a special economic zone, provided that the state must own no more than twenty-six percent of the shares in the authorized capital (shares) of such a management company.

The procedure for transferring shares of participation in the authorized capital (shares) of management companies determined by the Government of the Republic of Kazakhstan to the State is carried out in accordance with the procedure established by the legislation of the Republic of Kazakhstan on state property.

4. The authorized body concludes an agreement with the management company of the special economic zone, in the creation of which a non-governmental legal entity participates, on the proper performance of the functions of the management company of the special economic zone.

5. In case of non-fulfillment by such a management company of the obligations assigned to it under the contract for the proper performance of functions, the authorized body has the right to terminate the contract in accordance with the Civil Code of the Republic of Kazakhstan.

6. By the decision of the founder of the management company of the special economic zone, one management company may operate in several special economic zones.

7. The management company of the special economic zone may simultaneously manage the industrial zone.

8. The first constituent meeting (signing of the founding agreement, making a decision of the sole founder) of the management company must be held (carried out) no later than thirty calendar days from the date of the decision of the Government of the Republic of Kazakhstan on the participation of the state in the creation of the management company.

9. The management company of the special economic zone is registered at the location of the special economic zone in accordance with the procedure established by the Law of the Republic of Kazakhstan "On State Registration of Legal Entities and Registration of branches and representative offices".

10. Shareholders (participants) elect an independent director (member of the Supervisory Board) to the Board of Directors (Supervisory Board) of the management company from among the persons recommended by the National Chamber of Entrepreneurs of the Republic of Kazakhstan, who ex officio heads the Board of Directors' Strategic Planning Committee (Chairman of the Supervisory Board) of the management company, an independent director (member of the Supervisory Board) from among the persons recommended by the unified coordination center, as well as an independent director from among the persons, having experience in implementing investment projects recommended by the national company in the field of attracting investments.

11. The authorized body concludes an agreement with the management company of the special economic zone, under which the latter undertakes obligations for the proper performance of the functions of the management company of the special economic zone and the achievement of key indicators.

12. The management company of the special economic zone, within two months from the date of its creation or definition, approves, in agreement with the authorized body, the strategy for the development of the special economic zone for a three-year period, including annual target indicators.

The authorized body and the unified coordination center consider the strategy for the development of the special economic zone within twenty working days from the date of its receipt.

In case of comments and suggestions from the authorized body and the unified coordination center, the finalized strategy for the development of the special economic zone is subject to re-submission to the authorized body and the unified coordination center for approval within five working days.

This strategy is subject to re-approval every three years, taking into account the dynamics of the development of the special economic zone.

The management companies of the special economic zone involved in the future carry out their activities in accordance with the previously approved strategy for the development of the special economic zone.

This Law regulates public relations arising from the creation, operation and abolition of special economic and industrial zones on the territory of the Republic of Kazakhstan.

President

Republic of Kazakhstan

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