Creation of a legal entity by an individual entrepreneur: new rules, old issues

The Law of the Republic of Belarus dated April 22, 2024 No. 365-Z “On Amendments to Laws on Business Issues” was adopted, establishing special rules for the creation of a commercial organization by an individual entrepreneur.

What are the features of the creation and state registration of a legal entity created by an individual entrepreneur, how the transfer of rights and obligations from an individual entrepreneur to a legal entity occurs and who signs the transfer deed, is it necessary to conclude an employment contract with the director if he is the sole founder of the created commercial organization and who signs such an agreement, what are the features of taxation during the transition period, under what conditions does the director have the right to perform the functions of an accountant (taking into account the fact that the structure of small businesses is changing).

This and other nuances of creating a commercial organization by an individual entrepreneur are discussed in our article.

Tax tightening in relation to “unfriendly" states

On March 13, 2024, Resolution of the Council of Ministers of the Republic of Belarus dated 03.07.2024 No. 164 “On Taxation Issues” was officially published, which introduced special tax rules in relation to entities from “unfriendly” states.