Belarus imposes a ban on reorganization of – and withdrawal from – Belarusian companies whose shareholders are foreign investors from unfriendly countries.
In addition to the ban in force since 6 July 2022 on sale of shares (stakes) in the share capital of Belarusian companies by shareholders (stockholders) from unfriendly countries included on the List (for more details, see here), Belarus has now imposed a ban on reorganization of – as well as withdrawal from – those Belarusian companies by shareholders (stakeholders) from unfriendly countries.
Moreover, state authorities are prohibited from:
- state registration of new companies created as a result of reorganization of Belarusian companies on the List;
- state registration of amendments to the Articles of association of Belarusian companies on the List if the amendments relate to reorganization, sale of shares (stakes) in the share capital of or withdrawal from Belarusian companies by shareholders (stockholders) from unfriendly countries.
The new rules came into legal force on 1 November 2022.
Source: National legal internet portal of the Republic of Belarus (NLIP) 01.11.2022, 1/20590.