President extends simplified registration procedures for small-size entrepreneurs

Alexander Lukashenka has issued a decree which extends the simplified procedure for re-registration of entrepreneurs into private unitary enterprises up to March 1, 2008, reports the president's press office. The initial deadline for registration expired on November 10, 2007, when only around 11,000 people out of 200,000 entrepreneurs had re-registered.

Under the new regulation, effective from January 1 entrepreneurs will be allowed to employ close relatives only, while the number of employees is restricted to three persons.

The president's decree has also preserved the same utilities costs for legal entities as for ordinary consumers.

Penalties for administrative offences committed by unitary enterprises have been reduced at half up to December 31, 2009.