Legal requirements for setting up your business

Important information about setting up to do business in Belarus

What are the first steps to setting up a business in Belarus?

According to Belarusian law, businesses can be established by individuals or legal entities.

Foreigners are perfectly entitled to start a business in Belarus, so long as they abide by the relevant legal requirements.

As a first step, individuals and representatives of international companies in Belarus are required by law to provide notarised copies of their passports.

In some instances a notarised Russian translation is also required before the process of setting up a company can begin.

What are the legal requirements for foreign companies wishing to set up a legal entity in Belarus?

In order to set up and register a limited company in Belarus, you must complete the following steps:

• obtain a certificate from the Ministry of Justice verifying your proposed company name
• open a temporary bank account at a Belarusian bank and make a 50% deposit of the proposed funds
• obtain notarised copies of certificates of incorporation
• prepare a business seal
• register with the tax authorities and obtain your tax identification number
• have your business seal and signatory card notarised
• open a regular bank account

Find out more information about legal company structures in Belarus

What are the tax liabilities for foreign businesses in Belarus?

Tax liabilities vary depending on:

• the nature of your business
• the size of your business
• the location of your business

Tax breaks are available for businesses established in the Free Economic Zones, the High Technologies Park and rural areas.

Find out more about the business environment in Belarus

To make sure you understand legal and accounting practices in Belarus, it’s important to seek local professional advice.