Country News

On August 29, 2020 the amended law on geographical indications came into force. The definition of geographical indications and the procedure for obtaining their legal protection have been revised.

On July 26, 2020, the Presidential Decree of the Republic of Belarus dated July 23, 2020 No. 291 “On the fulfillment of monetary obligations” came into force. According to the comment on the Decree posted on the official website of the President of the Republic of Belarus, “The Decree will allow to exclude the automatic execution of the plaintiff’s payment request drawn up on the basis of the executive note and will enable the debtor, in the event of violation of his rights, to promptly apply to the court to declare the executive note unenforceable.”

The Law of June 30, 2020 No. 36-Z “On Amendments to the Laws on Currency Regulation and Currency Control” (hereinafter – the “Law”) amends some currency regulations and currency control rules aimed at liberalizing currency relations and devaluing the economy.

On July 31, 2020 the amendments to Federal Law No. 115-FZ entered into force. In 2020 these amendments allow Russian LLCs to hold annual shareholders’ meetings in form of remote voting, on which the yearly reports and balance sheets must be confirmed.

If you plan to start a business in Belarus, you should consider the changes in the issues of approving the names of legal entities, state registration, termination of activities of legal entities and individual entrepreneurs, maintaining the Unified State Register of Legal Entities and Individual Entrepreneurs of the Republic of Belarus (hereinafter – “EGR”), provided for by the Resolution No. 96 of the Ministry of Justice of the Republic of Belarus, dated June 18, 2020 (hereinafter – the “Resolution”).