SHOWCASE OF THE HOST COUNTRY – BELARUS

Minsk, June 23 – 25 2010

Valery PapakulLaw Company “Stepanovski, Papakul & partners LLC”

5th CIS LOCAL COUNSEL FORUM

Liberalization of corporate regulation

quick registration of a company (1-2 days)

opportunities of privileged and preferential registration: tax, customs, currency privileges (small towns, free economic zones, high-tech parks)

moratorium on inspections for two years since registration of a company

simplification of tax procedures (periodicity, electronic declaration, simplified tax system)

prescribed administrative procedures

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New forms of corporations

Holding

It is not a legal entity.

Members: companies and private persons (including foreign ones)

Holding company - owns 25 % and more

Advantages:no problems with affiliation and coordination of large-scale dealsconsolidated accounting and recording by a holding companysimultaneous management of several companies within a holding

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Coordination with antitrust authority

entities with dominant market positionwhile acquire more than 20% of entity’s shares if:

- its assets book value exceeds 1.160.000 USD

- revenue of the previous year exceeds 2.320.000 USD

while reorganization of companies while establishment of holdings

4

Creation of Customs Union

Customs Union does not solve matters on:

customs control : obligations for

registration of deals compliance with terms of

revenue receipttax obligations principles of indirect

taxation repayment of VAT

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Integrated customs territory, integrated customs tariff

Lack of opportunity of customs clearance of Russian company or its representation.

Problems and Perspectives

Simplification of licensing procedure

Liberalization of pricing Simplification of procedure of

attraction of foreign workers

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Stability of legislation Mandatory rule (joint-stock

agreements) Individual benefits

Problems Perspectives

Нет

www.spplaw.by Law Company “Stepanovski, Papakul & partners LLC”

is announced the best company providing legal services by the Chamber of the Ministry of Justice of the Republic of Belarus by results of activities in 2009.

 Pictures by Sergey Selecki ©

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