OREANDA-NEWS. January 29, 2007. By his Decree No. 40, the President of the Republic of Belarus has approved the Provisions on the status 'Bona Fide Entity of Foreign Economic Activity', the procedure of keeping the register of the individuals with this status and the procedure of providing information from this register, the Provisions on the peculiarities of the procedure of placing goods under the customs free circulation regime, reported the Official website http://president.gov.by.

This document will simplify the operations related to the provision of goods for customs clearance, for corporate entities and individual entrepreneurs acting in conformity with the legislation of Belarus and having the respective status.

The Decree regulates the customs clearance procedure for bona fide entities of foreign economic activity when undergoing customs transit procedures, procedures for temporary storage of goods, and the procedure for placing goods under the customs free circulation regime.

The status 'Bona Fide Entity of Foreign Economic Activity' is conferred on an entity if the entity has been engaged in foreign economic activity for no less than three years, if the entity has no history of violating the customs regulations and has never been brought accountable for criminal offence as a result of his foreign economic activity.