Agricultural lands not to be sold to foreigners – National Economy Ministry
17:27, 19 April 2016
ASTANA. KAZINFORM Kazakhstan is not going to sell its agricultural lands to foreigners, Bauyrzhan Smagulov, a representative of the National Economy Ministry, told a press conference today.
“As per Article 24 of the Land Code, foreigners and oralmans (repatriates) are not eligible for buying agricultural lands. They are entitled only to lease them for a period of 25 years. They can buy land for private housing construction and some other purposes. But agricultural lands cannot be sold to them,” he explained.
According to him, the country’s Land Code has been recently amended. As per the new document, the agricultural lands will be sold to individuals and legal entities at the auctions. The purchase of leased lands will be much easier henceforth with the introduction of some preferences for leaseholders. The procedure of changing designated purpose of a land parcel will be simplified too.