The history of the "Returned Assets Management Company" LLP begins with the adoption of the Law of the Republic of Kazakhstan "On the Return of Illegally Acquired Assets to the State" on July 12, 2023. This Law established the legal basis for the identification, return to the state, management and further use of illegally acquired assets. In addition, it provided for the creation of a special management company for the effective management of returned assets. Its main goal is to effectively manage the property returned to the state and use the funds received from it for the benefit of society. 

In order to implement the law, by Resolution No. 824 of the Government of the Republic of Kazakhstan dated September 21, 2023, the “Returned Assets Management Company” LLP was established with one hundred percent state participation. The State Property and Privatization Committee of the Ministry of Finance of the Republic of Kazakhstan was determined as the sole participant of the company. 

To regulate the company's activities, the Ministry of Finance approved the Rules for the Management of Returned Assets on October 5, 2023. The Rules established the procedure for accepting, evaluating, managing, selling assets, and transferring proceeds from their sale to the Special State Fund. 

As practical experience has been accumulated, the legislation has also been improved. On October 4, 2024, a new edition of the Asset Management Principles was adopted, expanding the mechanisms for using assets, increasing the transparency of procedures, and improving the procedure for conducting auctions. This has allowed for the effective management of returned property and increasing the efficiency of its sale. 

Today, the "Returned Assets Management Company" LLP carries out the entire process of receiving returned assets, from their management to their sale. The proceeds from the management and sale of assets are transferred to the Special State Fund, which, by decision of the Government, is directed to financing socially significant projects in the country. Thus, the assets returned to the state serve the public good.