Belarus has improved the procedure for the creation and liquidation of economic entities. Decree No 2 of 28 February 2017 is aimed at this, amending Decree No 1 of January 16 2009 “On state registration and liquidation (termination of activities) of economic entities”.
In order to reduce administrative procedures and speed up the start of the business activity, the Decree provides for the possibility of opening a bank current account simultaneously with the registration of a business entity on the basis of the submission of the registration authority.
To improve the investment climate and abolish unnecessary restrictions on the participation of businesses and individuals in creating new business entities the Decree eliminates the restriction on the creation of a subsidiary if the founder has not performed civil liabilities within the period.
The Decree changes the approach to the recognition procedure of the business entities state registration that is invalid when presenting false information by business entities to the registration authority. When considering this category of cases, the nature of violations, the existence of damage and the other circumstances relevant to the case are subject to review by the courts.
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Registration authorities have the right to eliminate the business entity that does not carry out business in the consecutive period of 24 months. At the moment the decision is made for 12 consecutive months, and subject to withholding the reports of reasons for its non-implementation.
This Decree limit for a 3-year period the right of tax and other authorized bodies to appeal to the court for voidance of the state registration of a business entity, their liquidation (termination of activities), as well as the right of business entities to appeal against actions (inaction) of registration authorities.
Under the provisions of the Decree, the economic entity that made a decision on self-liquidation shall have the right in order to verify the accuracy of calculation, completeness and timeliness of payment of obligatory payments to the budget to conclude a contract for auditing services. The presence of the auditor's report and the report will enable the tax and customs authorities, Belgosstrakh submit to the registration authority required information for the elimination of the subject without conducting additional checks.
The Decree also secured the possibility for economic entities of documents on liquidation (termination of activities) in an electronic format; also the Decree determines the mechanism of suspension of the activity of individual entrepreneurs in connection with compulsory military or alternative service, staying in correctional system facilities.
The Decree, except for some of its provisions shall enter into force six months after its official publication.
Source: president.gov.by