Specialized Financial Court

The Specialized Financial Court in Almaty was established on August 17, 2006 in compliance with Decree No.158 of the President of the Republic of Kazakhstan.

Establishment of such a court was required due to necessity to simplify legal proceedings for RFCA participants. 

The court is called to settle financial and tax disputes as well as other common pleas to which one of the parties is the RFCA participant.

For the first time in the history of domestic justice the possibility to keep records not only in the state and Russian languages but also in English was formalized in legislation. It allows representatives of foreign companies which are RFCA participants to resort to this court.

Jurisdiction of the Specialized Financial Court is of exterritorial nature by covering all the territory of the Republic of Kazakhstan regardless of the place of occurrence of the disputed fact or location of the defendant.

It is worth mentioning that no analogous financial courts exist yet in the territory of the former USSR but they function in the largest financial centers of New York, Dubai, Singapore, Dublin, and London as well (Commercial Court of London).