SYTUACJA PRAWNA INWESTORÓW ZAGRANICZNYCH W POLSCE I NA BIAŁORUSI (porównanie Prawa działalności gospodarczej i Kodeksu inwestycyjnego Republiki Białoruś)
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Date
2002
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Wydział Prawa i Administracji UAM
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LEGAL CONDITIONS FOR FOREIGN INVESTMENT IN POLAND AND BELARUS (comparison of the Polish Business Activity Law Act and the Investment Code of the Republic of Belarus)
Abstract
Liberalization of conducting business activity by foreign investors in both Poland and Belarus
constitutes the most important element of the economic transformation in these two countries. On the basis of the analysis of the Polish Business Activity Act and the Investment Code of
the Republic of Belarus one may notice considerable differences between the legal regulations,
including the legal terminology. Therefore, for example, the activity of foreign investors in Poland
is regulated by a parliamentary Act. However, such activity in Belarus is regulated by the Code.
This Code is called the „Investment” Code and the term „foreign investors” is applied to foreign
subjects conducting business activities in the Republic of Belarus.
The Polish Business Activity Law Act differs from the Investment Code in the specification of
the range of investment activity subjects. The Code stipulates that foreign states, their legal-administrative
units and international organizations can also be considered to be foreign investors,
while the Polish Act does not mention such subjects. Pursuant to the Act, business activity may be
conducted in Poland by a partnership of foreign natural or legal persons that does not have the
status of a legal person and has its main seat abroad. The Investment Code of the Republic of
Belarus does not provide for the activity of a foreign organization without the status of a legal
person in Belarus.
Under the Act foreign entrepreneurs may set up branches and representative offices in the
Republic of Poland. The issue of setting up branches and representative offices and conducting
activity by the branches and representative offices on the territory of Belarus is not regulated in
the Investment Code. The term „branch” does not exist in the Belarusian legislation. One of the
basic principles of the Business Activity Law Act which regulates the conducting of business
activities in Poland is the principle of reciprocity. The Investment Code does not include such
a principle.
The Business Activity Law Act maintains the principle of equal treatment of foreign and
domestic subjects. The Investment Code of Belarus provides for the principle of national treatment
of the foreign investors. However, one should mention at this point that the Investment Code
has been in force only since 9 December 2001 and the legal situation of foreign investors is determined
on the basis of the previous legal acts which have not been harmonized with this general
principle of the Investment Code. Besides, Belarusian legal acts uphold many limits and exceptions
concerning foreign investors. As a result, the legal system in force is not favourable enough
to the influx o f foreign investments in Belarus.
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny 64, 2002, z. 2, s. 21-33.