Overview of Corporate Rights Restrictions for Persons from “Unfriendly States” in the Republic of Belarus

This material is an updated version of the February review, revised and supplemented in connection with recent changes in the legislation of the Republic of Belarus.

As of early 2025, a number of foreign states have introduced measures affecting the interests of Belarusian legal entities and/or individuals. To stabilize the economy, the public authorities of the Republic of Belarus have adopted regulatory legal acts that have significantly changed certain corporate law mechanisms in effect in Belarus.

In this guide, REVERA’s lawyers examine these mechanisms and describe their impact on the business environment in Belarus.

Contents:

• Scope of the restrictions
• Approval of M&A transactions
• Restrictions on dividend payments
• Increased tax rates on dividends
• Temporary external management
• Expropriation of shares and stakes in favor of the Republic of Belarus

Authors: Nikita Talkanitsa, Ulyana Bulhakava, Irina Andrieuskaya, Alexander Halko

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