The procedure of establishment and organization of joint ventures and foreign enterprises
Most widely-spread forms of enterprises:
- Open joint-stock companies
- Closed joint-stock companies
- Private foreign unitary enterprise
- Limited liability companies
- Additional responsibility companies
Documents needed for registration of joint ventures and foreign enterprises:
1. The title of the enterprise coordinated by one of the founders.
2. Application from the founders in written form.
3. Notarized copies or originals of founding documents (2 copies).
4. From founders – legal persons, residents of the Republic of Belarus (when starting a joint venture): a notarized copy of the estate owner’s decision or of the protocol of the founders’ general meeting, notarized copies of state registration certificate and of founding documents (the organization charter of the founding agreement if there is one).
5. From founders – natural persons, residents of the Republic of Belarus (when starting a joint venture): a copy of the labour book (employment history), legalized by the stamp from the latest place of employment; or a copy of the pension certificate, legalized by the social security body at the place of residence; or a note from a work-agency.
6. From founders – foreign legal persons: legalized statement from the trade register of the country of origin or any other equivalent proof of the foreign investor’s legal status with a notarized translation into Russian/Belarusian languages.
7. From founders – foreign natural persons: passport xerocopy with a notarized translation into Russian/Belarusian languages.
8. Documents confirming the formation of the statutory fund (only for open joint-stock companies).
9. A letter of guarantee or other document, confirming the right to settle at its location.
10. Order of payment confirming the state registration payment (60 Euro).
11. The state registration can be applied for by attorney, if an authorized person is representing the interests of the legal person. Natural persons must be present at the registration in person (excluding the cases of unitary enterprises registration).
12. The statuary fund is announced in USD. Minimal amount of foreign investment – 20 thousand USD (the equivalent in other currency is accepted) or the property of the same value.
13. Not less than 50% of the statuary fund must be formed within one year from the date of registration (each founder contributes not less than 50 % of his share), the full amount must be contributed by the end of the second year from the registration date. In the case of open joint-stock companies the statuary fund is formed before state registration.