Foreign investors who want to start a business in a country with an emerging economy can choose Belarus, one of the East European countries which has become a very appealing destination thanks to its proximity to other developed economies like Poland, Lithuania and Latvia, not to mention the border with Russia.
Belarus is an open country when it comes to foreign investments, the legislation allowing investors from all over the world to benefit from a stable market. At the moment, manufacturing is the most important and best performing industries in Belarus. Another strength of Belarus is its workforce, which is highly educated and skilled.
Our company formation agents in Belarus can offer more information on legislation favoring foreign investments in this country.
Company formation requirements in Belarus
Both local and foreign investors will benefit from the same advantages and requirements upon company registration in Belarus. The first step to comply with is to choose the business form for conducting the activity, followed by its registration under the conditions imposed by the Commercial Code.
In order to open a company in Belarus, one must determine the shareholding structure, appoint a company director, have a local registered address and obtain the necessary licenses and permits to start its operations. An appropriate trade name must be chosen for the Belarus company.
Types of companies in Belarus
The following types of companies are available for registration under the Belarus Company Law:
- – the local limited liability company;
- – the joint or foreign limited liability company;
- – the joint stock company.
Foreign companies also have several structures for registration, among which subsidiaries which can take the form of foreign limited liability companies, branch and representative offices.
Our company registration advisors in Belarus can explain the requirements for each type of company which can be registered here.
Company registration steps in Belarus
There are several steps which must be completed in order to set up a company in Belarus. The first one refers to preparing the Memorandum and Articles of Association, which can be drafted by our local consultants. Then, the company name must be submitted with the Trade Registrar for approval and the legal address of the company must be selected.
With respect to the company directors, these can be local or foreign residents, as Belarus does not impose resident directors.
Opening a bank account for the company is also necessary. The corporate bank account must be opened with a local bank and the share capital deposited here can be denominated in Russian or Belarus rubles, US dollars or euros.
For information on how to register a company in Belarus, please contact our company registration specialists. You can rely on for assistance with the whole Belarus company formation procedure.