October 2, 06

NEWS / The President of the Republic of Belarus by the Edict of September 14, 2006, No.574 has established

According to the Edict the duty for:

- issuing visa on multiple entrance to Belarus for one year equals 5 base units;

- registration or prolongation of staying in Belarus equals one half of the base unit;

- for issuing the document on the invitation to Belarus equals 3 base units;

- for issuing permission on permanent residence in Belarus equals 3 base units.

The base unit equals 31000Br (approx.14.7USD).

Council of Ministers of the Republic of Belarus by its Decision of September 11, 2006 No.1173 has expanded the number of entrance (departure) points for foreign inspection groups, observers and crew members of inspection vehicles entering the territory of Belarus.

Now besides National Airport "Minsk" the list also includes road check points and railway stations check points.

Council of Ministers of the Republic of Belarus by its Decision of September 11, 2006, No.1174 has established the quota of foreign investors in statutory funds of insurance companies in Belarus at level of 30 %.

The Decision will come into force in December 2006.

New requirements for statutory funds for all Belarusian banks.

The National Bank of the Republic of Belarus by its Decision of September 13, 2006 No. 129 has established the minimal size of statutory funds for all Belarusian banks at 5 million EURO, including the banks created on the territory of free economic zones.

Tags: foreign investor, foreign investors, document,