Registration of public corporation

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

• Legislation do not limit the quantity of founders (participants) of public corporation. Both legal person and natural person, resident and non-resident of the Republic of Belarus and be founders.
• Public corporation can be both with and without foreign investment. Public corporation can be based on foreign capital only. In case of registration of public corporation with foreign investment the amount of foreign investment must be 20 000$ USD. In case of registration of public corporation without foreign investment, the minimal amount of authorized fund is determined as 400 basic amounts. In both cases the forming of authorized fund must be carried out before the registration of legal body.
• 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; authorized fund is divided into shares and is formed out from their principal value.
• The participants of public corporation have the right to dispone their stocks to undetermined circle of people without consent of other stockholders.
• Legal address of limited company can be situated in uninhabited premises only.
• The superior authority of public corporation is general meeting of participants, the executive authority is director (directorate, governing board). General meeting may also create authority for governing company – committee of directors.