Belarus is a country situated in Eastern Europe, with a populace of around 9.5 million folks. The economy of Belarus is primarily based on manufacturing, with heavy industry accounting for a significant portion of the country’s GDP. The country has a highly educated workforce and a well-developed infrastructure, making it an attractive location for corporations looking to expand into the region.
The corporate environment in Belarus is generally favorable, with the government encouraging foreign investment and offering a range of incentives to businesses looking to establish a presence in the country. The legal system is transparent and predictable, with well-established laws governing corporate activities. Additionally, the country has a low tax rate and a highly skilled workforce, making it an ideal location for businesses looking to operate in the region.
For those looking to start a business in Belarus, there are several resources available to help guide the process. You can easily register and operate your foreign corporation by following a few basic laws and regulations, which are mentioned below.
Laws regarding the company registration
The main law governing corporate registration in the nation is the Law on Entrepreneurship. One of the key aspects of the law on entrepreneurship in Belarus is the simplification of the registration process for businesses. The government has made it easier for entrepreneurs to start their businesses by reducing the number of bureaucratic procedures required. This has helped to attract more entrepreneurs to the country, which has led to an increase in economic activity.
Another important aspect of the law on entrepreneurship in Belarus is the provision of financial support for businesses. The government has established several programs to provide funding and other forms of support to small and medium-sized enterprises.
Types of company structure
The following are the most common types of company structures in Belarus.
Limited liability company
Limited liability companies are the vastly popular sort of corporation design in the country. They require at least one founder and a minimum share capital of 100 rubles. The firm’s liability is limited to its assets, and the founders are not personally responsible for the firm’s debts. Limited liability companies are easy to set up and maintain, making them a popular choice for small and medium-sized businesses.
Joint-stock company
Joint-stock companies are another type of company structure in the country. They require at least two founders and a minimum share capital of 50,000 rubles. Joint-stock companies can issue shares to the public and are subject to more regulations than limited liability companies. They are a good choice for larger corporations that plan to raise capital through public offerings.
Partnerships
Partnerships are the third type of corporate structure. They require at least two founders and no minimum share capital. Partnerships can be general partnerships, where all partners are equally responsible for the firm’s debts, or limited partnerships, where some partners have limited liability. Partnerships are a good choice for businesses that want to share ownership and control.
Steps of registration
Belarus is a nation that warmly welcomes international investors. The procedure for setting up a corporation is simple and only requires a few steps. The primary stages for registering a business are listed below.
- Choose a name
You must choose a unique name for your firm. The name must be in the Belarusian language and should not be similar to any existing company name. Once you have chosen a name, you should reserve it with the Ministry of Justice.
- Prepare documents
You will need to provide a copy of your passport, a notarized copy of your company’s charter, and a certificate of incorporation. You will also need to submit proof of your firm’s legal address.
- Open a bank account
Open a bank account under your syndicate’s name in the nation. This will allow you to deposit the minimum share capital required for your firm. The minimum share capital for a limited liability enterprise in the country is 100 rubles.
- Obtain permits
Obtain all the necessary permits and licenses to operate your business in the country. This may include a tax registration certificate, a permit to employ foreign workers, and a license to conduct certain types of corporate activities.
