{"id":5078,"date":"2026-09-07T18:03:34","date_gmt":"2026-09-07T13:03:34","guid":{"rendered":"https:\/\/bondstonelaw.com\/?page_id=5078"},"modified":"2026-09-07T20:03:23","modified_gmt":"2026-09-07T15:03:23","slug":"shared-construction-in-kazakhstan","status":"publish","type":"page","link":"https:\/\/bondstonelaw.com\/ru\/shared-construction-in-kazakhstan\/","title":{"rendered":"Shared Construction in Kazakhstan"},"content":{"rendered":"

Shared Construction in Kazakhstan (Dolevoe Stroitelstvo)<\/span><\/p>\n

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REAL ESTATE & CONSTRUCTION \u00a0\u00b7\u00a0 SHARED CONSTRUCTION \/ DOLEVOE STROITELSTVO<\/p>\n

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Kazakhstan’s off-plan residential market \u2014 centred on high-rise developments in Almaty and Astana that target both local and international buyers \u2014 operates under a specialised legal framework: the Law on Shared Construction of Residential Buildings No. 94-VI ZRK<\/strong> (2016, as amended). The 2016 reforms fundamentally restructured the sector in response to widespread developer insolvency and stranded buyers in the pre-reform period, introducing mandatory guaranteed savings accounts, completion guarantees, and a developer registry supervised by the Ministry of Industry and Infrastructure Development (MIID).<\/p>\n

Bond Stone International Law Firm advises foreign investors purchasing residential units off-plan in Kazakhstan, residential developers structuring compliant dolevoe stroitelstvo programmes, and buyers whose developers have defaulted or become insolvent.<\/p>\n

Primary authority:<\/strong> Law No. 94-VI ZRK (Shared Construction); Civil Code No. 409-I Art. 734; Law on Rehabilitation and Bankruptcy No. 516-II Art. 93 \u2014 adilet.zan.kz<\/a><\/p>\n

Sectors:<\/strong> Residential Development \u00a0\u00b7\u00a0 Off-Plan Property \u00a0\u00b7\u00a0 Foreign Investment \u00a0\u00b7\u00a0 Developer Finance<\/p>\n

What Is Dolevoe Stroitelstvo? Definition and Legal Basis<\/h2>\n

Dolevoe stroitelstvo<\/em> \u2014 literally “share construction” \u2014 is a system under which a buyer (the dolshchik<\/em> \u2014 “share participant”) enters into an agreement with a residential developer for the purchase of a residential unit that does not yet physically exist. The buyer acquires a contractual right<\/strong> (trebovaniye<\/em>) to receive the completed unit, not a property right in the legal sense. The property right arises only upon completion and state registration in the Real Estate Rights Register (KNB).<\/p>\n

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Shared Construction Participation Agreement (DDU)<\/h3>\n

The core instrument is the Shared Construction Participation Agreement (DDU \u2014 dogovor dolevogo uchastiya<\/em>). Under Law No. 94-VI ZRK, the DDU must be in writing, notarized, and registered with the local Justice Department<\/strong>. An unregistered DDU is void and confers no enforceable rights against the developer or third parties. Registration is the buyer’s primary legal protection at the contracting stage.<\/p>\n<\/div>\n

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Governing Legal Framework<\/h3>\n

The primary statute is Law No. 94-VI ZRK on Shared Construction of Residential Buildings<\/strong> (2016). Civil Code Article 734 governs the underlying construction contract relationship. Developer insolvency and creditor priority are governed by the Law on Rehabilitation and Bankruptcy No. 516-II<\/strong>, Article 93, which affords dolshchik claims senior priority over unsecured creditors.<\/p>\n<\/div>\n

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Distinction from a Standard Sale<\/h3>\n

A dolevoe stroitelstvo agreement is not a sale of existing property. The buyer acquires a contractual right to receive a future asset \u2014 the completed unit \u2014 rather than acquiring an existing title. This distinction is legally significant: the buyer bears completion risk (mitigated by the GNS and guarantee mechanisms) and cannot mortgage or sell the unit until construction is complete and KNB registration has occurred.<\/p>\n<\/div>\n

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Developer Eligibility<\/h3>\n

Not every developer may legally enter into a DDU. Developers must be registered in the MIID Unified Developer Registry<\/strong> and hold a valid state contractor licence. A DDU executed with an unregistered developer is unlawful and may be declared void. Bond Stone verifies MIID registry status as a first step in any due diligence instruction for off-plan residential purchases.<\/p>\n<\/div>\n<\/div>\n

Buyer Protection Mechanisms Under the 2016 Reforms<\/h2>\n

The 2016 reform package addressed the core failure of the pre-reform system \u2014 developers freely commingling buyer funds with operating capital, then becoming insolvent \u2014 by introducing three mandatory protections:<\/p>\n

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MECHANISM 1<\/p>\n

Guaranteed Savings Account (GNS)<\/h3>\n

Before accepting any buyer payments, the developer must open a Guaranteed Savings Account (GNS)<\/strong> at an accredited bank. All buyer funds flow exclusively into this ring-fenced account. Funds are released to the developer only upon verified construction milestones \u2014 not at the developer’s discretion. A developer accepting funds into any account other than the designated GNS commits a statutory offence under Law No. 94-VI ZRK.<\/p>\n<\/div>\n

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MECHANISM 2<\/p>\n

Completion Guarantee<\/h3>\n

Prior to accepting buyer payments, the developer must obtain either a bank guarantee<\/strong> or a contractor completion guarantee<\/strong> covering the full construction cost. If the developer fails to complete, the guarantee may be called upon. Practical recovery depends on the guarantee wording \u2014 Bond Stone reviews the guarantee instrument as part of pre-DDU due diligence, as poorly drafted guarantees may contain ambiguous conditions precedent or caps that limit recovery.<\/p>\n<\/div>\n

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MECHANISM 3<\/p>\n

MIID Supervision<\/h3>\n

The Ministry of Industry and Infrastructure Development (MIID)<\/strong> maintains the Unified Developer Registry and exercises supervisory authority over shared construction activity. Only MIID-registered developers may lawfully enter into DDU agreements. MIID may suspend a developer’s registration if statutory compliance requirements are breached, triggering the GNS fund-return mechanism for existing dolshchiki.<\/p>\n<\/div>\n<\/div>\n

Foreign Buyer Considerations<\/h2>\n

Foreign nationals and foreign legal entities may purchase residential units under a DDU in Kazakhstan. Unlike land \u2014 which is restricted to Kazakh nationals and entities (see Foreign Land Ownership in Kazakhstan<\/a>) \u2014 residential property ownership is not restricted by nationality. Foreign buyers nonetheless face a set of practical and legal considerations that differ from domestic purchases.<\/p>\n

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Currency Control & Payment Risk<\/h3>\n

GNS accounts are KZT-denominated. Foreign buyers transferring foreign currency face conversion timing risk \u2014 the KZT equivalent at transfer date may differ materially from the agreed purchase price expressed in USD or EUR. Payments from foreign buyers must comply with the Law on Currency Regulation and Currency Control<\/strong>. Bond Stone advises on structuring payment obligations to manage this risk and ensure NBK notification obligations are met.<\/p>\n<\/div>\n

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Tax Exposure for Non-Residents<\/h3>\n

Non-resident buyers face 15% withholding tax<\/strong> on rental income from Kazakhstan property and 15% capital gains tax<\/strong> on disposal. Double taxation treaty review is recommended before purchase \u2014 Kazakhstan has active DTTs with the UAE, China, the UK, Russia, and several EU member states that may reduce or eliminate the withholding obligation. Bond Stone coordinates with the client’s home-jurisdiction tax advisers to structure the holding appropriately.<\/p>\n<\/div>\n

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Title Registration by Proxy<\/h3>\n

Upon completion, the buyer must attend the Justice Department (Government for Citizens \/ GCC) in person or through a duly authorised representative. A foreign buyer who cannot attend in person requires a notarized and apostilled power of attorney<\/strong>. The POA must be executed in the buyer’s home jurisdiction, apostilled under the Hague Convention, and accompanied by a notarized Kazakh translation. Bond Stone manages the POA documentation workflow for international clients.<\/p>\n<\/div>\n

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Corporate Buyer Structure<\/h3>\n

Foreign legal entities purchasing residential units must demonstrate the authority of their signing representative (apostilled charter extract or POA), provide notarized translations of all corporate documents, and comply with Kazakhstan’s AML\/KYC requirements applicable to non-resident purchasers. Where multiple units are purchased as an investment portfolio, Bond Stone advises on whether a Kazakh SPV holding structure is more efficient for ongoing tax reporting and management.<\/p>\n<\/div>\n<\/div>\n

What Happens If the Developer Defaults?<\/h2>\n

GNS fund return.<\/strong> If the developer fails to complete the project and the MIID suspends or revokes its registration, GNS-deposited funds must be returned to dolshchiki. The GNS mechanism is the primary recovery route and, where properly established, provides substantial protection for the buyer’s capital.<\/p>\n

Calling the completion guarantee.<\/strong> Where the developer obtained a bank guarantee or contractor completion guarantee, the dolshchik (or a group of dolshchiki acting collectively) may call on the guarantee for the guaranteed amount. The strength of this recovery depends entirely on the guarantee instrument \u2014 Bond Stone examines the conditions precedent, expiry date, and any exclusions before DDU signing, as poorly structured guarantees are a common source of unrecoverable loss.<\/p>\n

Insolvency proceedings.<\/strong> Under Law on Rehabilitation and Bankruptcy No. 516-II, Article 93, dolshchik claims are prioritised in the developer’s bankruptcy estate above general unsecured creditors. Claims may be filed in the Almaty or Astana Economic Court. Bond Stone has experience representing dolshchiki in developer insolvency proceedings and advising on the interaction between GNS claims, guarantee calls, and insolvency distributions.<\/p>\n

Frequently Asked Questions \u2014 Dolevoe Stroitelstvo in Kazakhstan<\/h2>\n
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Is it safe to buy off-plan in Kazakhstan?<\/h3>\n

Purchasing off-plan property in Kazakhstan is significantly safer since the 2016 reforms. The guaranteed savings account (GNS) mechanism ring-fences buyer funds from the developer’s operating accounts, and developers must obtain a completion guarantee before accepting any payments. The principal residual risk is dealing with an unregistered developer \u2014 always verify the developer’s MIID registry status and confirm the GNS account number before signing or transferring funds. Bond Stone recommends legal due diligence prior to DDU execution.<\/p>\n<\/div>\n

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Can a foreign national buy a shared construction unit in Kazakhstan?<\/h3>\n

Yes. Foreign nationals and foreign legal entities may purchase residential units under a dolevoe stroitelstvo (DDU) agreement. Unlike land, residential property ownership is not restricted by nationality. Payments from foreign buyers must comply with Kazakhstan’s Law on Currency Regulation; GNS accounts are KZT-denominated, exposing foreign buyers to forex conversion timing risk that should be managed in the DDU. Bond Stone advises on currency control compliance and DDU structuring for international buyers.<\/p>\n<\/div>\n

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What is a guaranteed savings account (GNS) in Kazakhstan construction?<\/h3>\n

A guaranteed savings account (GNS) is a ring-fenced deposit account that a developer must open at an accredited bank before accepting buyer funds. Buyer payments are deposited directly into this account and are legally segregated from the developer’s operating capital. Funds are released to the developer only upon verified construction milestones \u2014 not at the developer’s discretion. Any DDU that waives or circumvents the GNS requirement is unlawful under Law No. 94-VI ZRK.<\/p>\n<\/div>\n

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What happens to my deposit if the developer goes bankrupt?<\/h3>\n

GNS-deposited funds are legally protected and must be returned to the buyer (dolshchik) if the developer fails to complete. Dolshchik claims also rank above unsecured creditors in developer insolvency proceedings under Law on Rehabilitation and Bankruptcy No. 516-II, Article 93. Where a bank completion guarantee was issued, buyers may call on the guarantee up to the guaranteed amount. Bond Stone recommends reviewing the guarantee wording and confirming the GNS account details before DDU execution to ensure these protections are properly operative.<\/p>\n<\/div>\n

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Related Practice Areas<\/h2>\n
Real Estate & Construction \u2192<\/a>
\nProperty Registration \u2192<\/a>
\nForeign Land Ownership \u2192<\/a>
\nConstruction Licensing \u2192<\/a><\/div>\n<\/div>\n

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Discuss your Kazakhstan off-plan property or shared construction matter<\/h2>\n

Contact Bond Stone for a confidential discussion about this matter.<\/p>\n

Request a Confidential Consultation<\/a><\/p>\n

Dispute Resolution \u2192<\/a>
\nConstruction Licensing \u2192<\/a>
\nForeign Land Ownership \u2192<\/a>
\nProperty Registration \u2192<\/a>
\nInvestment in Kazakhstan \u2192<\/a><\/p>\n

Primary authority: adilet.zan.kz<\/a> \u2014 Law No. 94-VI ZRK on Shared Construction; Civil Code No. 409-I Art. 734; Law on Rehabilitation and Bankruptcy No. 516-II Art. 93<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Shared Construction in Kazakhstan (Dolevoe Stroitelstvo) REAL ESTATE & CONSTRUCTION \u00a0\u00b7\u00a0 SHARED CONSTRUCTION \/ DOLEVOE STROITELSTVO Kazakhstan’s off-plan residential market \u2014 centred on high-rise developments in Almaty and Astana that target both local and international buyers \u2014 operates under a specialised legal framework: the Law on Shared Construction of Residential Buildings No. 94-VI ZRK (2016, […]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5078","page","type-page","status-publish","hentry"],"translation":{"provider":"WPGlobus","version":"3.0.5","language":"ru","enabled_languages":["en","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/5078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/comments?post=5078"}],"version-history":[{"count":2,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/5078\/revisions"}],"predecessor-version":[{"id":5092,"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/pages\/5078\/revisions\/5092"}],"wp:attachment":[{"href":"https:\/\/bondstonelaw.com\/ru\/wp-json\/wp\/v2\/media?parent=5078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}