On restrictions on the use of dividends by foreign participants

Edict of the President No. 285 of September 13, 2023 "On Special Accounts" regulates the procedure for receipt of distributed profits (dividends) by foreign participants when applying special restrictive measures. Restrictions on the use of funds in special accounts have been introduced.

Effective date – September 16, 2023.

Important: Edict No. 285 determines the procedure for the functioning of special accounts opened in case of application of a special restrictive measure. Such a special restrictive measure is introduced by a decision of the Council of Ministers of Belarus in the form of Resolution.

Read more about it in our publication.

On the order of administrative procedures

The procedure for certain administrative procedures and certification (registration) of transactions in respect of citizens of Belarus has been changed: Decree No. 278 of September 04, 2023

Important:

the list of contracts, notarization and state registration of which is carried out only upon personal application of a citizen of Belarus or his representative on the basis of a power of attorney executed in the Republic of Belarus, has been fixed;

passports are issued or exchanged only at the internal affairs bodies at the place of the last registration at the place of residence of a citizen of Belarus.

Registration of currency contracts

On October 01, 2023 the new edition of the Instruction on registration of currency contracts by residents will come into force

Read more about it in our publication.

Attention: Entry into force of this normative document requires examination of previously concluded currency agreements as well.

Borovtsov & Salei has many years of experience in this area and ready to provide the necessary assistance and advice.

Working with a Russian counterparty

On August 28, Borovtsov & Salei partner Nadezhda Znak participated as a speaker in the online seminar "Working with Russian counterparties: contracting, debt collection and court practice".

How to reduce risks when working with Russian counterparties? Recommendations from the speaker.

Based on Borovtsov & Salei's many years of experience and practice, Nadezhda Znak's attention is focused on the problematic issues of checking Russian counterparties and the specifics of concluding contracts with their participation, as well as practical difficulties arising in the course of execution.

Accounts receivable: effective recovery

How to ensure effective collection of receivables from the counterparty: Borovtsov & Salei partner Nadezhda Znak at the seminar "Receivables in Construction".

How to prevent the emergence of accounts receivable, whether and what method of collection can be chosen, what are the advantages of writ proceedings over lawsuit proceedings, the order of transition from writ proceedings to lawsuit proceedings, the algorithm of debt collection through the notary's writ of execution, recommendations on the most problematic issues. About this and much more from the speaker Nadezhda Znak.