On October 22, 2023 the provisions of Edict of the President of the Republic of Belarus No. 326 of October 19, 2023 (hereinafter - Edict No. 326) come into force.

Edict No. 326 establishes new rules - alienation of assets (shares in authorized capital, shares, real estate) by persons from "unfriendly" states (hereinafter - foreign persons), - withdrawal of a foreign person from the membership of participants, - reorganization of legal entities whose participants are foreign persons.

We are pleased to present you the quarterly Newsletter, traditionally prepared by Borovtsov & Salei team, in which we pointed out the most significant, in our opinion, legislative changes for business in Belarus for the period of July - September 2023.

Newsletter 2023 (Q 3) can be found here: Newsletter 2023 (Q3) from Borovtsov & Salei.

Edict of the President No. 285 of September 13, 2023 "On Special Accounts" regulates the procedure for receipt of distributed profits (dividends) by foreign participants when applying special restrictive measures. Restrictions on the use of funds in special accounts have been introduced.

Effective date – September 16, 2023.

Important: Edict No. 285 determines the procedure for the functioning of special accounts opened in case of application of a special restrictive measure. Such a special restrictive measure is introduced by a decision of the Council of Ministers of Belarus in the form of Resolution.

Read more about it in our publication.

We are pleased to present you the quarterly Newsletter, traditionally prepared by Borovtsov & Salei team, in which we pointed out the most significant, in our opinion, legislative changes for business in Belarus for the period of April - June 2023.

Newsletter 2023 (Q 2) can be found here: Newsletter 2023 (Q2) from Borovtsov & Salei.

Once again, the list of legal entities of the Republic of Belarus has been revised, in which participants (shareholders) from "unfriendly" states are prohibited from alienating their shares (shares) in authorized funds (the "List"). The new version of the List was approved by Resolution of the Council of Ministers No. 382 of June 10, 2023, comes into force on June 17, 2023 and contains 1,795 entities.