Enacted Law on Business Environment Improvement

The Law on Business Environment Improvement entered into force yesterday on 29th July. The Proposal of the Law was submitted by the Parliament, following the initiative of the Council for Regulatory Reforms and Business Environment Improvement. The Law on Business Environment Improvement is an efficient "legal tool", so - called omnibus law providing fast and efficient way to amend or delete provisions of certain laws in order to create conditions to facilitate business. In the light of the above, the Law contains provisions concerning the amendment or deletion of individual provisions of the laws governing the procedure for renewal of registration of companies, abolition of various taxes, reduction of administrative and court fees for hiring foreigners and verification of purchase and sale contracts, shortening deadlines for public administration processing in the area of electronic communications and assessment of environmental impact and the improvement in the ownership rights registration.