1. Unitary Enterprise - a commercial organization, not endowed with the ownership on the property assigned to it by the owner. Property of UE is indivisible and can not be assigned to deposits (shares, units). Property of UE is privately owned by its Founder - private or legal entity, - and  is used by UE on the right of economic management (use and possession, but not disposal). UE can dispose of assets only by authority of the Founder.

2. Founder

UE may be established only by one founder – private or legal entity (either local or foreign).  

3. Share capital

The minimum amount of UE’s share capital is not provided by legislation and is established by decision of it’s Founder.

Prior to state registration of the UE its share capital must be paid in full on a temporary bank account. Contributions of a Founder to the share capital may be money, securities, other property, including property rights, or other alienable rights, that can be monetary valued.

 
4. Founding documents

The founding document of a private unitary enterprise is a Charter, approved by Founder.

5. Founder’s responsibility

Founder  is not charged with UE’s responsibilities.

Exception: if a bankruptcy of UE is caused by its Founder or other persons, who have rights to give obligatory instructions for the legal entity, such persons, in case of insufficiency of UE’s assets, are liable to subsidiary responsibility. It must be proved in the court that exact acts of this person(s) caused the bankruptcy.

6. UE’s responsibility
UE is responsible for its obligations with all property assigned to it. UE is not liable for the obligations of the Founder, except as provided by law.

7. UE’s Management
Governing body of the UE is a (general) director appointed by founder.

8. Estimated costs associated with the state registration of private unitary enterprise.

1. Opening of a temporary bank account for the formation of share capital (if required) – according to the bank's rates.
2. The size of contribution to the share capital - by the decision of the Founder.
3. The registration fee for state registration of Companies – 175 000 BYR (60-65 EUR).
4. Company seal -  15-20 EUR.
5. Validation of signatures and seal in the bank – according to the bank's rates (around 10 EUR).
6. Opening a current account in a bank - according to the bank's rates.