To promote rapid innovation of new forms of financing for the real estate sector and the issuance of new debt instruments in Kazakhstan, the need was seen to adopt a law on the securitization of assets. In this regard, the Law on Securitization, once enacted, will govern the activities of an special purpose vehicle (SPV) that is created for the sole purpose of conducting one or more securitization transactions and will clarify the term "assignment of claim" with regard to such transactions. The Draft Law on the Introduction of Amendments to Certain Legislative Acts on Securitization Issues is also being considered by the parliament. This article seeks to clarify the legal nature and permissible means of activity for special purpose vehicles, as well as some legal issues related to the new legal form, the "special purpose vehicle".