First steps in setting up a business in Belarus. According to Belarusian legislation, businesses in Belarus can be established by individuals or legal entities.
Foreigners are entitled to start a business in Belarus as long as they abide by the relevant legal requirements.
Residents of the Republic of Belarus and foreign countries enjoy equal rights and opportunities in business by means of establishing legal entities. They have to complete a number of formalities and register with the unified state register of legal entities and self-employed businessmen.
As the first step, foreign individuals and representatives of international companies in Belarus are required by law to provide a copy of their personal identity document, with the notarized translation into the Belarusian or Russian language.
Foreign legal entities also have to provide proof of their status in accordance with the laws of the country of origin (an extract from the trade register or any other document with notarized translation).
The registration of a company takes about 1.5–2 weeks.
In Belarus, a foreigner can start a business in different ways. For example, a person can create a new company or invest in the objects of investment activity of Belarus.
Legal requirements to set up a company in Belarus
In order to register a business entity in Belarus, you have to complete the following steps:
- choose the organizational-legal form of a business entity (unitary enterprise, limited liability company, additional liability company, public joint-stock company, private joint-stock company, etc.);
- get the name of the future company approved by the registering body (this is done as part of the electronic registration process if you opt for electronic registration);
find a premise (legal address);
- set up management bodies and adopt the statutory documents;
- pay a registration fee (the fee is forfeited if you submit digital documents via the unified state register of legal entities and self-employed businessmen);
- submit documents to the registering body and pass state registration;
- have a business seal made;
- formalize employment relationships with business executives (including the chief accountant);
- public joint-stock companies and private joint-stock companies will have to issue shares.
The Minsk City Executive Committee and the oblast administrations are the registering authorities for business entities involving foreign and international organizations.
You can submit the package of documents for state registration to the registering body personally or through the website of the unified state register of legal entities and self-employed businessmen (a digital signature is required).