ORDER OF THE GOVERNMENT OF THE REPUBLIC OF KAZAKHSTAN

of June 2, 2025 No. 400

About modification of the order of the Government of the Republic of Kazakhstan of September 17, 2024 No. 754 "About some measures of the state support of private entrepreneurship"

The government of the Republic of Kazakhstan DECIDES:

1. Bring in the order of the Government of the Republic of Kazakhstan of September 17, 2024 No. 754 "About some measures of the state support of private entrepreneurship" the following changes:

in Item 1:

1) to state the subitem in the following edition:

"1) Rules of subsidizing;";

subitems 2) to exclude 3) and 4);

5) to state the subitem in the following edition:

"2) Rules of provision of guarantees within guarantee funds;";

6) to exclude the subitem;

9) to exclude the subitem;

Rules of provision of portfolio subsidizing of part of rate of remuneration and partial guaranteeing on the credits/microcredits of subjects small including to be reworded as follows the microentrepreneurships approved by the specified resolution according to appendix 1 to this resolution;

The rules of guaranteeing on the credits / to financial leasing approved by the specified resolution to be reworded as follows according to appendix 2 to this resolution.

2. To impose control of execution of this resolution on the Ministry of national economy of the Republic of Kazakhstan.

3. This resolution becomes effective after ten calendar days after day of its first official publication.

Appendix 1

to the Order of the Government of the Republic of Kazakhstan of June 2, 2025 No. 400

Approved by the Order of the Government of the Republic of Kazakhstan of September 17, 2024 No. 754

Rules of subsidizing

Chapter 1. General provisions

1. These rules of subsidizing (further – Rules), are developed according to Item 3 of article 94 of the Entrepreneurial code of the Republic of Kazakhstan (further – the Code) and determine procedure for provision of subsidizing for the following types of financing:

1) the credits issued by banks of the second level;

2) leasing transactions of leasing companies;

3) markups on goods and parts of the lease payment constituting the income of Islamic banks / Islamic leasing companies;

4) the loans issued through crowdfunding platform.

2. In these rules the following basic concepts are used:

1) the purpose on replenishment of current assets – the use of the financial instrument by the entrepreneur connected with ensuring operating (current) activities of the entrepreneur on renewable renewable basis and excluding payment of the tax liabilities, pension and social assignments, customs payments / charges / duties;

2) bank – the bank of the second level performing activities within implementation of these rules (further – BVU);

3) bank - the payment agent – the authorized bank of leasing company which is approved with the financial agency and performs functions on maintaining the special account of the leasing company intended for transfer and write-off of subsidies on projects;

4) bank loan (further – the credit) – the amount of money provided by bank based on the agreement of bank loan to the entrepreneur on the terms of urgency, the paid nature, recoverability, security and target use of the credit;

5) the project – set of the actions and actions performed by the entrepreneur as the initiative activities directed to income acquisition and which are not contradicting the legislation of the Republic of Kazakhstan within activities on which the state financial support is provided (within one project possibly receipt of several bank credits / making of leasing transactions);

6) project implementation – set of the actions and actions performed by the entrepreneur and directed to goal achievement and the conditions determined by the decision of financial institution including goods availability at the exit rendering services, use of subject of leasing; on the projects approved on acquisition and (or) construction, and (or) upgrade and (or) reconstruction and (or) capital repairs of fixed assets – availability of the acceptance act of object in operation and implementation of the declared activities of the entrepreneur according to the decision of financial institution;

7) the investment purposes (further – investments) – acquisition and (or) construction, and (or) upgrade, and (or) reconstruction, and (or) capital repairs of fixed assets, acquisition of biological and (or) intangible/tangible assets (tax expenses on value added included in the cost of the main means / biological / tangible/intangible assets according to accounts for payment, connected with the purposes specified in this determination, also belong to investments);

8) lease payment within Islamic financing – the regular payment made by the entrepreneur (the receiver of financing) for benefit of Islamic leasing company or Islamic bank for use of the property leased based on the agreement of financing (Islamic leasing) in case of which the property right to property remains for Islamic to the leasing company / Islamic bank to the moment provided by the agreement;

9) Islamic bank (further – IB) – the bank of the second level performing the banking activity provided by Chapter 4-1 of the Law of the Republic of Kazakhstan "About banks and banking activity in the Republic of Kazakhstan" based on the license within implementation of these rules;

10) the financing provided by Islamic bank / Islamic leasing company (further – financing) – delay or payment by installments of payment for goods (further – markup) / lease payment, provided by Islamic bank / Islamic leasing company to the entrepreneur;

11) Islamic leasing company (further – ILK) – the legal entity created in the form of joint-stock company, not being bank, performing the activities according to Chapter 2-1 of the Law of the Republic of Kazakhstan "About financial leasing", participating within implementation of these rules when financing by the Islamic leasing companies;

12) the agreement of Islamic leasing – the written agreement signed between Islamic leasing company and the entrepreneur under the terms of whom the Islamic leasing company provides to the entrepreneur property (leasing subject) on the terms of leasing (lease payment);

13) the entrepreneur – the small business entity, including microentrepreneurships determined according to the Code and having the status of the acting subject of entrepreneurship, including subject of social entrepreneurship – individual entrepreneurs and legal entities (except for subjects of medium and big business) according to the activities specified in the register of subjects of social entrepreneurship;

14) crowd funding – the licensed investment and loan crowdfunding platform in the Republic of Kazakhstan registered in the territory of the International financial center "Astana";

15) the credit agreement – the written agreement signed between financial institution and the entrepreneur under the terms of whom the financial institution grants the loan with nominal rate to the entrepreneur (the agreement on opening of credit line also belongs to the credit agreement);

16) refinancing – substitution of means on the financial instrument, earlier issued financial instruments to the entrepreneur, at the same time is included only principal debt without the remuneration, penalties, penalty fee and other payments connected with debt collection into the amount of refinancing as in judicial, and extrajudicially;

17) the agreement of financing – the written agreement signed between Islamic bank and the entrepreneur under the terms of whom the Islamic bank grants commercial credit to the entrepreneur – to the buyer or the seller of goods (the general agreement of financing within which between Islamic bank and the entrepreneur separate agreements on provision of commercial credit (financing) are signed also belongs to the agreement of financing;

18) the agreement of financial leasing – the written agreement signed between LK/BVU and the entrepreneur under the terms of whom LK/BVU provide to the entrepreneur financial leasing;

19) the financial agency – joint-stock company "Fund of development of entrepreneurship "Lady" (further – Fund);

20) authorized body of the financial agency – the permanent collegiate organ performing the activities within the powers conferred to it by the charter of the financial agency, credit policy of the financial agency and fixed by internal documents of the financial agency;

21) financial institution – БВУ/ЛК/ИБ/ИЛК/краудфандинг;

22) target use of the financial instrument – use by the entrepreneur of the credit obtained under the contract for the purposes corresponding to conditions of these rules (target use of the financial instrument is confirmed by the relevant documents which in total confirm payment, obtaining and use by the entrepreneur in full of assets/works/services and (or) achievement of other purposes, in accordance with the terms of these rules);

23) loan – crediting with remuneration (further – nominal rate) for certain term of small business entities and microentrepreneurship;

24) the loan agreement – the written agreement signed between crowd funding, the entrepreneur and the investor under the terms of whom the investor provides loan to the entrepreneur;

25) authorized body of Fund – the permanent collegiate organ of the financial agency having rights to make decisions on the questions carried to competence and powers of authorized body of the financial agency;

26) leasing company (further – LX) – the participant of the leasing transaction performing activities within implementation of these rules;

27) the leasing transaction (leasing) – set of coordinated actions of the participants of leasing directed to establishment, change and the termination of the civil laws and obligations;

28) the state institutes of development – national managing holdings, national holdings, joint-stock companies which controlling stocks the national managing holding or national holding, the rendering measures of the state support in different sectors of economy own;

29) the regional coordinator – determined by the akim of area (the capitals, the cities of republican value) structural division of local executive body in the field of entrepreneurship;

30) subsidies – the periodical payments on non-paid and irretrievable basis paid by the financial agency to financial institution within subsidizing of entrepreneurs on the credits / to leasing transactions / to financing/loan (further – the financial instrument) based on the credit agreement / agreement of financial leasing / agreement of the financing/agreement of Islamic leasing / loan agreement (further – the agreement);

31) subsidizing – form of provision by the financial agency of subsidies to entrepreneurs for financial institutions in part:

remuneration rates on credit/leasing;

markups / lease payment on financing;

remuneration rates on loan;

32) the agreement on subsidizing – the written agreement signed between financial institution and the financial agency, determining the rights and obligations of each of the parties within subsidizing realization;

33) authorized body – authorized body on entrepreneurship according to Item 3 of article 85 of the Code and the subitem 17) Item 13 of the Regulations on the Ministry of national economy of the Republic of Kazakhstan;

34) the affiliated/connected persons – physical persons and legal entities according to Items 1, 1-1 and 2 articles 64 of the Law of the Republic of Kazakhstan "About joint-stock companies", Items 1 and 2 of article 12-1 of the Law of the Republic of Kazakhstan "About partnerships with the limited and accessorial liability";

35) the general qualifier of types of economic activity (further – OKED) – the national qualifier establishing procedure for classification and coding of types of economic activity.

3. Subsidizing is performed at the expense of means of the local budget and/or republican budget.

The means provided for subsidizing are listed by the regional coordinator / authorized body in the financial agency on the basis of the signed contract for transfer to the special account of the financial agency.

The regional coordinator from the moment of receipt of funds, provided for subsidizing, within 10 (ten) working days performs transfer to the financial agency of means in the amount of 50% of the amount allocated for implementation of these rules in the corresponding financial year, into the account specified by the financial agency. The subsequent payments will be made according to requests of the financial agency.

The financial institution opens for the financial agency the current account for transfer of the amounts of subsidies.

The financial institutions which do not have the right of opening and maintaining business bank accounts in coordination with the financial agency determine bank - the payment agent in whom the financial institution will open the current account for transfer of subsidies.

4. In case of insufficiency of funds for subsidizing from the republican budget, the regional coordinator at the expense of means of the local budget provides allocation of additional resources for subsidizing in accordance with the established procedure.

5. The financial agency for the purposes of forming of the general complex annual analytical report of efficiency on the projects which received subsidizing (further – the report), no later than July of the year following for reporting sends results of the report to authorized body.

6. The authorized body pays for provision of services within these rules at the expense of means of the republican budget to the financial agency on the basis to the agreement signed with it.

7. Subsidizing is not performed on entrepreneurs:

1) the projects providing release of motor vehicles and release of the alcohol-containing products of medical appointment (except balms) registered according to the legislation of the Republic of Kazakhstan as medicine performing release of excisable goods / products, except for;

2) planning to realize the project in the mining industry and development of pits;

3) fifty and more percent of shares (share in the authorized capital) which directly or indirectly belong to the state, national managing holding, national holding, the national company;

4) pattern of ownership of which is drawn up as private institution according to article 10 of the Law of the Republic of Kazakhstan "About non-profit organizations";

5) performed and/or planning to perform sale/donation/transfer to confidential management / lease / free use of asset to person at whom it was acquired for the credit account, including the companies of the entrepreneur making and/or planning in the future reorganization in the form of accession to this person or merge to this person (in case of identification during monitorings of projects of the cases specified in this subitem subsidizing stops and earlier paid subsidies are subject to return);

6) stopped or suspended activities as the subject of private entrepreneurship.

8. The projects of entrepreneurs realized on the types of activity specified in item 4 of article 24 of the Code and financial instruments within these rules are not subject to subsidizing:

In which 1) creditor are the state institutes of development;

2) which were reduced the price at the expense of budgetary funds;

3) directed to the redemption of shares, shares of the organizations, and also companies as property complex;

4) in the form of the overdraft;

5) on returnable, secondary or to subleasing;

6) directed to activities of pawnshops, the microfinancial, factoring organizations and leasing companies;

7) directed to acquisition at the affiliated/connected persons of fixed assets, goods in the form of real estate objects, assets, works and services, except for:

constructions (including expansion, upgrade, technical updating, reconstruction, restoration, capital repairs) the new and (or) existing objects (the building, constructions and their complexes, communications), in case of availability of the supporting document on implementation by the affiliated/connected person of activities for construction;

purchases of goods, works and services at the affiliated/connected persons which are official distributors in the territory of the Republic of Kazakhstan;

purchases of goods, raw materials and/or materials at the affiliated/connected persons if such goods, raw materials and/or materials are made by the affiliated/connected person;

8) the financial instruments directed to acquisition of the ready and entered into operation / existing project which was earlier receiving subsidizing without additional upgrade less than 20% of the acquired project;

9) directed to payment of the tax liabilities, pension and social assignments, customs payments and charges, the salaries, tenancy, utilities and other services, and also on carrying out calculations for payment of the current payments on servicing of credits/agreements of financial leasing / financing and other purposes;

10) the financial instruments directed to acquisition of the properties/assets which afterwards are drawn up on the third parties and also implementation of asset construction on the parcel of land belonging to the third parties, except for constructions on the parcel of land which is in state-owned property and carrying out repair works / upgrades / reconstruction of the real estate object which is in lease of the third parties.

9. Financial instruments are issued in national currency.

Chapter 2. Procedure for subsidizing

Paragraph 1. Conditions of provision of subsidies

10. Participants of subsidizing are the entrepreneurs implementing and (or) planning to realize own projects in priority types of economic activity without place of registration of the entrepreneur according to the list of priority types of economic activity according to appendix 1 to these rules with observance of the requirements specified in Items 7, of 8, of 9 these rules.

11. Subsidizing is performed on the new financial instruments issued by financial institution for implementation of new effective investment projects, replenishment of current assets.

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