Kazakhstan bans foreigners to obtain, rent agricultural land plots

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Trend | 22 February 2018

Kazakhstan bans foreigners to obtain, rent agricultural land plots

By Ali Mustafayev
Trend

Baku, Azerbaijan -- The parliament of Kazakhstan approved amendments to the legislation on land relations in its second reading.

According to a key provision of the document, foreign companies and private individuals will not be able to take farmland even for temporary use, Astana TV reported.

New amendments provide for additional clarifications. In particular, now, Kazakh enterprises will not be able to lease land if they have even the smallest percentage of foreign participation.

"The bill extends the moratorium on granting agricultural land for lease to joint ventures with a share of foreigners or foreign legal entities in the authorized capital. Now, any percentage of foreign participation in the authorized capital will lead to impossibility of obtaining the agricultural land plots," Berik Ospanov, a member of the Kazakh parliament, said.

Ospanov said that until Dec. 31, 2021 agricultural lands will not be leased to foreign land users.

In addition, the bill establishes the most transparent mechanisms for provision of agricultural land. A company or a person can obtain them only on a competitive basis.
Original source: Trend
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