Materials prepared by assistant lawyers Aliaksandr Zvantsou and Arina Maksimchik in collaboration with partner Yuliya Sushchenko were published in Professional Legal Journal “Jurist”. The articles explore topical issues in corporate restructurings of Belarusian companies involving non-resident shareholders and provide practical recommendations for businesses.
Set-off of a non-resident’s monetary claims against increasing their contribution to the share capital of a Belarusian company
The article, co-authored by Yuliya Sushchenko and Arina Maksimchik, examines the conditions under which monetary claims of a non-resident shareholder can be offset against an increase in their contribution and share in the share capital of a Belarusian LLC. Particular attention is given to assessing such a transaction from the perspectives of:
- The prohibition on barter transactions established by Resolution No. 713 of the Council of Ministers of the Republic of Belarus “On the Price Regulation System”;
- The restriction on alientation of shares established by Decree No. 93 “On Additional Measures to Ensure the Stable Functioning of the Economy” (in cases where the increase in the share in the share capital of a non-resident entails ‘dilution’ of another non-resident);
- The obligations of taxpayers under the Tax Code of the Republic of Belarus.
The article is available via the link.
Reorganisation of a non-resident shareholder: what about Decree No. 93?
In their new article for Professional Legal Journal “Jurist”, Yuliya Sushchenko and Aliaksandr Zvantsou, examined application of the provisions of Decree No. 93 “On Additional Measures to Ensure the Stable Functioning of the Economy” in cases where the changes in the shareholding structure in a Belarusian LLC result from the reorganisation of non-resident shareholders. The article provides a legal analysis of such operations regarding the need to obtain permission from the Council of Ministers and to pay the contribution to the state budget. Our experts also share practical insights based on their experience of registering amendments to the article of association due to such changes of the shareholding structure.
The article is available via the link.