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Belarus Expands Ban For Foreigners To Dispose Of Shares Of Their Companies

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Belarus Expands Ban For Foreigners To Dispose Of Shares Of Their Companies

Almost 2,000 legal entities were included in the new list.

The Belarusian authorities have expanded the list of legal entities whose foreign owners are prohibited from selling their business. The corresponding document, signed by Deputy Prime Minister Mikalai Snapkou, was published on January 28 on the National Legal Internet Portal.

The document takes 95 pages and is divided by region.Three paragraphs of the resolution are hidden under the heading “for official use”. The document comes into force after its official publication.

The last time the government made changes to the “black list” was in September last year. Then it consisted of 193 legal entities. Now there are 1,849 companies on the list. These firms were banned from disposing of shares without the knowledge of the authorities.

In November 2022, officials further restricted the rights of foreign owners of companies included in the list of legal entities whose foreign participants are prohibited from disposing of shares without the permission of the authorities. Such companies, for example, were forbidden to reorganize.

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