Property legalization terms defined in Kazakhstan

Date: 04:27, 14-05-2014.

Astana. May 14. KazTAG - Property legalization terms have been defined in Kazakhstan, said Bakhyt Sultanov, Deputy Prime Minister- Minister of Finance.

"We set September 1 in the draft law as a beginning of legalization, it will finish on December 31 2015," he said.

In his words, money, securities stakes in fixed capital of legal entities may be legalized. Legalization may concern "construction objects, land areas where they are located, and construction objects registered after undue entity".

"Real estate outside the borders of Kazakhstan is also subjected to legalization," he added.

Property obtained in the result of crimes cannot be legalized, including crimes against personality, constitutional and other rights and freedom of people, base of constitutional order and security of the state, in the result of corruption crimes and also other violations and crimes against the interests of state service.

The draft law was approved by the Government of Kazakhstan.

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