Belarus Business Visa / Company Formation

Belarus, officially known as the Republic of Belarus, is situated in Eastern Europe, bordered by several nations: Ukraine to the south, Russia to the northeast, Poland to the west, and Lithuania and Latvia to the northwest. The capital city is Minsk. The primary languages spoken are Belarusian and Russian, with minority languages such as Polish, Ukrainian, and Yiddish also prevalent in the region.

The government of Belarus operates as a Unitary presidential republic, comprising the National Assembly, the Council of the Republic, and the House of Representatives. The official currency used is the Belarusian ruble (BYN), and the population exceeds 9 million people.

Belarus holds membership in several international organizations, including the United Nations, Commonwealth of Independent States, and the Eurasian Economic Union (EEU), among others.

Advantages of Establishing a Company in Belarus

  1. Absence of foreign currency control
  2. No minimum share capital requirement
  3. Double taxation treaties signed with 65 countries
  4. Favorable tax structure and the presence of free economic zones
  5. Well-developed infrastructure
  6. Strategic privatization opportunities

Business Entities in Belarus

  • Limited Liability Company (LLC)
  • Additional Liability Company (ALC)
  • Joint Stock Company
  • Open Joint Stock Company
  • Closed Joint Stock Company
  • Unitary Enterprise
  • Branch Office/Representative office
  • Subsidiary office

Business Operations and Taxation in Belarus

  • Company tax rate stands at 18%
  • Personal income tax is set at 12%
  • Value Added Tax (VAT) rate is 20%
  • Company tax rate with VAT is 3%, while without VAT is 5%

Procedure for Registering a Company in Belarus

  1. Obtain approval for the company’s name and intended activities from the Companies Registry.
  2. Secure the Memorandum of Association (MOA).
  3. Prepare and submit the required incorporation documents to the relevant authorities for approval.
  4. Open a corporate bank account in Belarus.
  5. Receive the certificate of incorporation, either in person or via courier service.

Frequently Asked Question Reagrading Company Formation in Belarus

The process of registering a company in Belarus usually takes approximately 10 days to complete.

Absolutely, it’s a requirement to have a registered local address in Belarus to successfully undergo the company registration and formation process.

Yes, in this jurisdiction, having a local registered agent is essential to complete the company registration process.

The registration of a company name initiates with the submission of appropriate documents. Step Right aids in the preparation and compilation of the necessary paperwork, ensuring it meets the requirements specified by the Companies Registry for the approval of a company name.