Kazakh Senate Lifts Business Restrictions for Civil Servants

The Senate of Kazakhstan has approved a law removing business restrictions for civil servants and those equated to them.

The move aims to eliminate legal contradictions, boost the appeal of public service, and streamline mechanisms for returning assets acquired unlawfully in the past, The Caspian Post reports via Kazakh media.

Key changes include:

Abolishing the requirement to transfer up to 5 per cent of company shares to trust management.

Allowing purchase of shares, bonds, and units outside organized securities markets, including through inheritance.

Recognizing digital assets as income-generating property without mandatory trust management.

Simplifying trust management procedures: notarized copies now suffice.

Permitting civil servants to earn income from assets in trust management.

Lifting the ban on government members renting out personal real estate.

Expanding exceptions to participation restrictions, allowing membership in nonprofits, political parties, unions, and cooperatives.

The law modernizes public service regulations, promotes transparency, and provides civil servants with more flexibility in managing assets.