An exploration of Kazakhstan’s private foundations

Abstract

This article is an introduction to private foundations in the Republic of Kazakhstan (RoK), discussing the legal prerequisites of the strong asset protection legislation that have been created. The author identifies and compares how the civil and common law (AIFC) systems are combined in a single country. Both systems and all types of private foundations are analyzed with a view to which are the more flexible and suitable for asset protection, wealth management, inheritance planning, investment and the achievement of charitable objectives. The article also examines under which regime a private foundation can provide a solid tool for wealth structuring and for the reduction of litigation risks.