Company registration

Every business must have a business structure. Each of the available options carries with it certain benefits, risks, and rules of operation that must be followed. The nature and condition of a business’s structure is a significant part of the information that other businesses consider in making credit and making decisions. The stability of the structure, the adequacy of capitalization, and the amount of liability of the owners are all critical factors in the decision to buy, sell, or extend credit. The way even boards conduct business is subject to judicial scrutiny, and board members can experience personal liability for failure to honor business structure rules.

Our Law Firm helps clients to find the most convenient structure of business in the Republic of Belarus. Besides we are ready to create the business structure and prepare necessary documents for doing business in Belarus legally.

Some Forms of Business Organization

Limited Liability Company

A limited liability company shall be deemed to be a company founded by one or several persons, the charter capital of which is divided into participatory shares of amounts determined by the charter. The participants of a limited liability company shall not be liable for its obligations and shall bear the risk of losses connected with the activity of the company within the limits of the value of the contributions made by them.

Additional Liability Company

An additional liability company shall be deemed to be a company founded by one or several persons, whose charter capital has been divided into participatory shares of the amounts determined by the charter. The participants of such a company shall bear subsidiary liability jointly and severally for its obligations with their property within the limits, defined by the constituent documents of the company, but not less than within the amount, established by the legislative acts. In the event of the economic insolvency (bankruptcy) of one of the participants, his liability for the obligations of the company shall be distributed among the remaining participants in proportion to their contributions unless another procedure for the distribution of liability has been provided for by the constituent documents of the company.

Joint-Stock Company

A joint-stock company shall be deemed to be a company whose charter capital has been divided into a determined number of stocks having equal par value. The participants of a joint-stock company (stockholders) shall not be liable for its obligations and shall bear the risk of losses connected with the activity of the company within the limits of the value of the stocks belonging to them.

A joint-stock company whose participants may alienate the stocks belonging to them without the consent of other stockholders to the non-limited set of persons, shall be deemed to be an open joint-stock company. Such a joint-stock company shall have the right to conduct an open subscription for the stocks issued by it and the free sale thereof on the conditions established by the legislation on securities, and in cases of placing of additionally issued stocks on the company's own account and/or on the account of its stocksholders, in other cases specified in the legislative acts - the right for closed placing of additionally issued stocks (among limited numder of persons).

The joint-stock company, the participant of which can alienate stocks belonging thereof only subject to the consent of other shareholders and/or to the limited set of persons, shall be deemed to be a closed joint- stock company. Closed joint-stock company has the right to carry out only closed (among limited number of persons) placing of additionally issued shares.

Unitary Enterprises

A commercial organization not endowed with the right of ownership to property consolidated to it by the owner shall be deemed to be a unitary enterprise. The property of a unitary enterprise shall be indivisible and may not be distributed according to contributions (participatory shares, shares), including distribution among the employees of the enterprise.

 

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