Registration of additional liability company

The main information on the registration of this type of legal form:

• There can be not less than two and no more than fifty people. It can be both legal person and natural person, resident and non-resident of the Republic of Belarus.
• Additional liability company can be both with and without foreign investment. Additional liability company with foreign investment can be joint additional liability company and based on the foreign capital only, foreign additional liability company. In case of registration of additional liability company with foreign investment, authorized fund must be formed during two years since the date of registration, the size of foreign investment must be not less than 20 000 USD, and 50% of it must be payed in during the first year of company’s activity. In case of registration of additional liability company without foreign investment the minimal size of authorized fund is not estimated by the legislation.
• Authorized fund can be formed by means of bank deposit to which will be transferred the sum of authorized fund. The fund also can be formed at the expense of property evaluated in accordance with legislation.
• Essential condition which differs additional liability company from other legal forms is obligatory presence of secondary liability which is 50 base amounts. This condition is additional guarantee of the owners on the performing of organization’s obligations at the expense of personal means in the amount stated by regulations.
• Legal address of additional liability company can be situated in uninhabited premises only.
• The superior authority of additional liability company is general meeting of participants, the executive authority is director (government, directorate). One of the founders of company can be appointed director. Accounting can’t be provided by the owner. Responsible for accounting can be either staff accountant or outsourcing company which provides this service on contract basis.