Council of Republic approves decree on simplifying registration of enterprises

The Council of the Republic, the upper chamber of the National Assembly of Belarus, has approved the president's decree which simplifies procedures for registration and liquidation of economic entities, reports Belta.  The decree aims to create favorable conditions for the development of entrepreneurship, according to Belta. The decree removes the permissive principle of the state registration.

"One-window" principle is also introduced for the liquidation of enterprises. The period of state registratiom is reduced from 20 to 5 working days.

The minimum amount of the founding fund for legal entities is halved.