State registration, liquidation of legal persons, self-employed businesses improved in Belarus

Belarus President Aleksandr Lukashenko has signed a law on the state registration and liquidation (termination of activities) of commercial entities in order to improve these procedures.

For instance, the law stipulates a procedure for the state registration of a legal person operating on the basis of a standard charter. The legal person no longer needs to obtain a certificate of state registration.

At the same time, the state registration of new commercial entities is restricted with regard to legal persons and self-employed businessmen if they have arrears in the payment of wages and remunerations.

In cases where the reorganization of a legal person is recognized as invalid and its former status gets restored, the institution of external management is introduced.

Apart from that, the law simultaneously amends a number of other legal documents (6 codes and 23 laws), including taking into account the adoption of the Civil Procedure Code, changes in civil legislation, including matters of entrepreneurial activity.