GRATA International Partners Mr. Baizhan Bekzhanov and Mr. Maxim Burak, as well as Counsel Ms. Aruzhan Aimak delivered legal support under Kazakh law during the relocation of a large gold mining company from Jersey island (the UK Crown Dependency) to the jurisdiction of the Astana International Financial Centre (AIFC).
It is a reminder that the re-domicile is a unique opportunity for a company to "move" from one country to another without liquidation, transfer of assets, or termination of its contracts. Importantly, for the purposes of the re-domicile, such a procedure must be permitted by the laws of both "donor" and "recipient" countries. Re-domicile is not allowed under regular Kazakhstani legislation but is available in the AIFC.
The project is the first case of relocation of a listed company and the third case of re-domicile to the AIFC. Congratulations to our colleagues and welcome the company to the new home!