Barrier-Free Assessment: A Single Market for Services in the EAEU

Amendments are in the works for the valuation sector in Kazakhstan. The Ministry of Finance has proposed amendments to the legislation aimed at improving the quality of services and establishing uniform property valuation standards across the EAEU. The reform will help businesses save time and money, make the market more transparent, and provide greater predictability for investors.

Property valuation plays a crucial role in sales transactions, lending, investments, and legal proceedings. Today, the trust of both businesses and citizens depends on the accuracy and transparency of property valuations.

 

Amendments are being made to the Law regarding the provision of property appraisal services within the EAEU by appraisers, both from Kazakhstan and from other EAEU member states.

Currently, there are four chambers of appraisers operating in Kazakhstan, each with more than 300 members; in total, there are approximately 1,700 appraisers working in the market.

How the new law will work

In connection with the opening of a single market for property appraisal services within the EAEU, the Law has been supplemented with a new chapter titled “Activities within the Framework of the Single Market for Services.” This chapter regulates the duties and responsibilities of Kazakhstani appraisers, appraisers from other EAEU member states, and, accordingly, the Chamber of Appraisers.

These amendments will allow our appraisers and non-resident appraisers to conduct their activities within the Union.

The main innovation of the reform is the recognition of appraisal results in all EAEU countries. Now, if a Kazakhstani appraiser has appraised a property, that appraisal will be valid in all Union countries. “This not only reduces costs but also makes business processes faster and more predictable,” explains a representative of the Ministry of Finance. In the context of EAEU market integration, such a measure will significantly simplify cross-border cooperation and increase confidence in the appraisal system as a whole.

 

How the Changes Will Affect Investment

The amendments will have a direct impact on Kazakhstan’s investment climate. Transparency, predictability, and trust in the asset valuation system are the most critical factors for investors.

“Amendments to Kazakhstan’s legislation on valuation activities within the framework of the unified market for property valuation services under the EAEU will strengthen Kazakhstan’s image as a country with a transparent regulatory system and competent professionals,” the source believes.

As a result, Kazakhstan gains a more open market where everyone benefits—from small businesses to large international companies.