On January 28, 2023, Resolution of the Government of Belarus has been officially published which significantly expanded the list of legal entities of the Republic of Belarus, the shareholders of which, who are persons from “unfriendly” countries, are prohibited from alienating their shares in the authorized capital of mentioned legal entities.
It should be noted that in addition to the alienation of shares, it is also prohibited to carry out corporate reorganization of a Belaruisan legal entity included into the list, as well as withdrawal from such a legal entity for a shareholder arising from “unfriendly” countries.
As of today, the list of legal entities of the Republic of Belarus with foreign participation, which are subject to the above corporate restrictions, includes 1849 legal entities.
The changes come into effect on January 28, 2023.
If you have any additional questions or need advice on corporate law, please contact us.
