Registration of JSC, registration of JSC

Registration of an organization of any form of ownership carries some nuances. First of all, future shareholders need to decide what form of ownership they want to create - Closed Joint Stock Company or Open Joint Stock Company. If you find it difficult to choose, then our experts will help you with this.

What is a CJSC and JSC

An open joint stock company is a type of joint stock company where it is possible to transfer shares to third and other parties without the consent of all participants in the joint stock company.

A closed joint stock company is a type of joint stock company where the shares are evenly distributed among the participants, have the same nominal value and can subsequently be transferred only to the participants of the company or approved third parties.

Registration of OJSC and registration of CJSC in the Republic of Belarus takes place within the framework of established legislation. The minimum size of the authorized capital has been established, which must be at least 100 base units. It must be formed within a year from the date of registration of an OJSC or CJSC. For this reason, such organizations are considered large.

The cost of the registration service (CJSC, OJSC)
Registration of legal entities	From 400 Euro (€)

 

The difference between OJSC and CJSC:

• The number of participants in a CJSC should not exceed 50 people, otherwise it may be transformed from a closed joint stock company into an open one. In JSC the number of participants is not limited;
• If, upon leaving a closed joint-stock company, only one participant remains, then the company is transformed into a unitary enterprise (UE);
• When registering a CJSC, shareholders can count on complete anonymity, because their data does not have to be entered into the Unified State Register (USR);
• The minimum statutory fund of a Closed Joint Stock Company must be at least 100 base units, and when registering an Open Joint Stock Company, the amount of the minimum statutory fund must be 300 base units.

Advantages and disadvantages:

• Loyalty in business. Joint stock companies have full trust within the framework of business ethics, so work becomes easier;
• Complete confidentiality when registering a Closed Joint Stock Company. Official tax and other portals do not contain complete information about all participants in this type of company;
• Wide choice of structural management.

Registration of CJSC and OJSC

Registration of a CJSC and registration of an OJSC is practically the same, which greatly simplifies the task.

First of all, future founders must draw up a protocol, where they prescribe for what purposes they register an organization, distribute shares of the authorized capital, and indicate its nominal value. The next step in registering a CJSC or OJSC is a meeting of founders, which is documented. It is necessary to agree and approve the charter, the distribution of shares and the decision to issue them.

After that, it is imperative to agree on a unique name, which is registered using the USR.

The third step in registering a CJSC and registering an OJSC is to submit an application for registration of an enterprise. This requires the following documents:

• Charter in two copies;
• Application for registration;
• Receipt for payment of the state fee;
• Passport data of all founders.

When registering a CJSC, information about all members of the company is confidential, but to complete the procedure, the data of future shareholders are entered in the application indicating the share of shares and their nominal value.

After that it is necessary to register the shares. Shares are issued for the amount of the previously established statutory fund, and they are registered with the Securities Department of the Ministry of Finance of the Republic of Belarus. To do this, it is necessary to conclude a depository agreement with the Department. It is also worth remembering that twelve months are given for the formation of the authorized capital of a legal entity, but only two months are allocated for registration of shares. Therefore, it is better to form the authorized capital in advance in order to avoid minor troubles.

The final stage is the opening of a current account in the selected bank and the appointment of the head of the organization. Without both, the work of the organization is impossible, so it is better to initially agree on all issues.

Our help

It may immediately seem that the registration of a CJSC and the registration of an OJSC is a quick and easy thing. But that's not the case at all. This process will be easy if you are familiar with the law or have a qualified lawyer. Without this, registration can be delayed for a long time and take longer, so it is better to contact our specialists.

To assist, you must provide the following:

1. Copies of full passport data of all founders or constituent documents of legal entities;
2. Decide on the size of the authorized capital;
3. Distribute shares among the participants and agree on their nominal value;
4. Select the main activity of CJSC or OJSC;
5. Data of the head of the legal entity - his full passport data, contact numbers;
6. Decide on the location of the future CJSC or OJSC;
7. Provide information about the bank in which the current account will be opened in the future.

Competent consultation of our experts will help you to collect all the necessary package of documents. And full support for the registration of a Closed Joint Stock Company or an Open Joint Stock Company greatly simplifies the entire procedure.

Services and contacts.

Accompanied by the registration of OJSC, registration of CJSC in Belarus. Maximum protection of the interests of the customer within the framework of Belarusian legislation. Strict observance of terms of rendering services. The cost of supporting the registration of a CJSC on a turnkey basis (before the registration of shares with a securities authority) is 400 Euros (€).

For professional legal advice, call +375291102388 or e-mail: info@legaltime.by.