Thanks to the improvement of the taxation system, and simplification of the procedures for registering property and companies, an attractive business climate has been created in Belarus. In the world ranking “Doing Business” Belarus has risen from the 120th line (2006) by several positions. Therefore, according to a number of indicators, Belarus occupies leading positions in the world.
Today, the state continues to implement plans to enter the top 30 countries with the most comfortable business conditions by 2025.
Among the main investment partners of Belarusian entities are companies from Russia, the United Kingdom of Great Britain and Northern Ireland, Cyprus, Poland, Austria, Ukraine, Lithuania, China, Germany, and The Netherlands.
Forms of registration of companies in Belarus
You can register several types of companies in Belarus.
Limited Liability Company, LLC.
Such a company must have at least two and no more than fifty founders. In the event that a company has one founder in Belarus, he can create a private unitary enterprise.
For LLC there is no standard size of the authorized capital, while the term for its contribution is no more than a year.
Limited Liability Company (Joint or Foreign).
If the authorized capital of a company in Belarus exceeds $ 20,000, then a PSI can be registered. The authorized capital of the joint venture is the share of the foreign investor and the share of legal entities/individuals of the Republic of Belarus. A commercial organization with foreign investment must have 100% funding from the investor.
It is important that the statutory fund must be formed at least half in the first year from the date of registration. So, each of the founders contributes half of their share, in general- within two years from the date of state registration.
Joint Stock Company, OJSC, and CJSC.
The minimum authorized capital for a CJSC is approximately 870 €, for an OJSC – 3500 €.
Registration of shares is required.
Representation (you can choose a commercial or non-commercial form).
The accreditation period is 5 years, it can be extended. It takes at least one month to register a representative office.
Company registration in Belarus – basic provisions
To register a company in Belarus, you need to fulfill a number of conditions:
Company name.
To register a company in Belarus, you must have the unique name of the legal entity. If the name is used in foreign languages, transliteration must be used. Only firms that have a share of state assets in their capital can use the words “Minsk” and “Belarus” in their names.
Legal address.
In accordance with Belarusian legislation, the legal address of the company is the location of the General Director, Directorate, that is, a permanent body.
Entrepreneurs use two forms of registration of a legal address:
– virtual office
– standard legal address.
CEO.
A resident of Belarus and a foreign person can act as a general director. In this case, a foreigner must receive an official request from the company to obtain an appropriate license and attract labor from another state (with the exception of Kazakhs and Russians).
Participation of shareholders during company registration.
Founders are not required to be present in person, company registration in Belarus can be carried out by power of attorney.
Documents required for company registration
The registration authority must be provided with:
- application for state registration;
- the charter in duplicate without notarization, its electronic copy (in .doc or .rtf format);
- the original or a copy of the payment document confirming the payment of the state duty in the amount of one base unit (today it is 25.5 rubles). The details for paying the state duty are given on the website of the corresponding registration authority.
Organization registration is carried out on the day of application.
An employee of the registering authority affixes a registration stamp to the charter and issues one copy of the charter to the founder.
The certificate of state registration of the organization is issued either on the day of submission of documents or on the next business day.
A notice of registration with the tax authorities, state statistics bodies, the Federal Social Security Service, and registration with Belgosstrakh is issued in five working days at the registration authority. You do not need to do anything for registration with all these authorities – it happens automatically after the registration of the organization.
Basic steps after registration company in Belarus
- make a seal (keep in mind that from February 2018, organizations can work without a seal);
- hire a director or conclude an agreement with a management company or a manager – an individual entrepreneur;
- hire a chief accountant or contact the services of an accounting company or an accountant – an individual entrepreneur;
- open a bank account. You can find out what documents you need to submit to open an account at the bank where you plan to be serviced. As a rule, the account is opened on the day the documents are submitted.
