Residents of “unfriendly” jurisdictions are prohibited to transfer their shares

On 1 July 2022,  the Counsel of Ministers of the Republic of Belarus approved the list of Belarusian legal entities whose participants (shareholders) – resident of so-called unfriendly jurisdictions are prohibited to transfer their shares. The list includes 190 legal entities.

In joint-stock companies included in the list the shares owned by shareholders resident in unfriendly jurisdictions are to be blocked on ‘depo’ account at the order of the Ministry of Finance.  Change of participants in limited liability companies included in the list will not be registered when resulted from the transfer by participants included into the list. It is also possible that respective share transfer transactions will be deemed null and void as prohibited by law.   

The full list is available at the National Legal Internet Portal of the Republic of Belarus.