Choosing to open a company in Belarus can be a strategic move for entrepreneurs looking to access Eastern European markets with minimal bureaucratic hurdles. The country’s legislation is relatively investor-friendly, the costs are moderate, and the overall process can be completed within days. Below, we explore the fundamental stages of establishing a business in Belarus, the documentation required, and how to navigate ongoing obligations such as taxation and staffing. We will also highlight the advantages of working with a legal team that has deep experience in both Belarusian and international corporate law.
1. Popular Business Forms and Why LLC Stands Out
Foreign investors generally gravitate toward establishing a Limited Liability Company (LLC) in Belarus. This type of entity offers substantial flexibility in terms of capitalization, ownership structure, and daily management. The share capital can start from as little as 1 euro, and you can have just one founder who also acts as the director. Other corporate forms, including Additional Liability Company (ODO), Private Unitary Enterprise (ChUP), and Joint Stock Company (AO), do exist, but they are less frequently chosen by foreign entrepreneurs. One reason is that these structures often entail stricter requirements on the minimum or maximum number of employees or founders. By contrast, an LLC provides the right balance between limited liability protection and minimal obligations regarding staffing levels.
2. Tax Regimes: Simplified and General Systems
Belarus offers two main tax regimes. The first is a simplified system, where a 6% tax applies to revenue regardless of expenses, but only up to an annual turnover of 900,000 euros. Should your business exceed this threshold, you must switch to the general system, where profit is taxed at 20% and an additional 20% applies as value-added tax (VAT). This dual approach to taxation mirrors what you might find in other international jurisdictions, making it straightforward for foreign entrepreneurs to assess which regime better suits their projected income. If you plan on scaling quickly, it might be wise to prepare for the general regime from the outset; meanwhile, if you expect modest revenue in the early stages, the simplified system can provide cost savings and easier reporting.
3. Registering a Company in Belarus: Required Documentation
The first stage in opening a company typically involves a swift registration process, often completed within one day. You must submit several crucial documents:
-
A charter in Russian or Belarusian, specifying the company’s share capital. For an LLC, it can be any amount starting from 1 euro.
-
A translated version of the founder’s passport. If the translation is done abroad, an apostille is needed; alternatively, a Belarusian translator can provide a certified version without requiring an apostille.
-
A formal application indicating the nature of the new entity, the details of its founders, and the company’s objectives.
-
A request for the company name, which must be approved on the Ministry of Justice’s website. You are allowed up to three potential names, and one will be confirmed.
Additionally, you need a legal address, which can be a physical office or a virtual location. If you prefer a traditional space, expect to pay 5 to 20 euros per square meter of rentable office space. A purely legal address costs around 15 euros per month. The state fee for the actual registration is only about 10 euros. Foreigners who do not reside in Belarus can authorize local attorneys to file everything on their behalf by granting them a power of attorney.
Once the company is registered, it generally takes up to five more days for the tax authorities and social protection organs to issue proof of registration. After that, you can open a corporate bank account and commence business activities.
4. Setting Up a Bank Account in Belarus
Companies in Belarus are free to open multiple accounts in different banks, an advantage if you anticipate frequent international transactions. Standard bank fees for new businesses tend to be around 10 euros a month, although actual rates can vary depending on the bank’s focus, such as payments to China, the European Union, or other regions. Not all banks excel in every type of international transfer, so seeking professional advice or asking for references is highly recommended. Generally, local banks do not charge a fee for opening an account, and you can manage your finances through convenient online applications on both computers and mobile devices.
To set up the bank account, you will need copies of the charter, the registration certificate, and the appointment documents for the director, along with signature cards. Opening an account can often be done in one day once all required paperwork is in order.
5. Ongoing Accounting and Reporting
Once your Belarusian company is established, maintaining proper accounts and filing taxes become critical responsibilities. There are multiple strategies for this:
-
You can hire a full-time accountant, with a salary starting at approximately 600 euros per month. This figure generally includes payroll taxes.
-
You can outsource accounting to specialized firms at about 150 euros monthly, which is popular among smaller companies looking for cost efficiency.
-
If you or your director have the necessary expertise in Belarusian standards, you may handle bookkeeping tasks personally and file the requisite declarations.
Many owners choose the outsourced model or a local in-house accountant to ensure compliance with all regulations and deadlines, particularly when they are not physically present in Belarus.
6. The Role of Electronic Signatures
While it is possible to submit reports and documents on paper, electronic filing offers a significant advantage for busy entrepreneurs. By obtaining a digital signature for roughly 90 euros, your company representative can manage tax, payroll, and other government-related procedures entirely online. This is particularly beneficial for those who want the flexibility of operating remotely, as it allows you to keep complete control of daily operations without being physically present in the country.
7. Overall Expenses and Timeline
The base costs for establishing an LLC in Belarus remain relatively low:
-
The registration fee of about 10 euros.
-
A legal address, starting at 15 euros per month.
-
Monthly bank service costs of around 10 euros per account.
-
Outsourced accounting, if chosen, at about 150 euros per month.
-
A 90-euro fee for an electronic signature key.
Additional expenditures may arise from the translation of documents or engagement of legal professionals. Nonetheless, compared to many European jurisdictions, Belarus stands out for its competitive pricing and speed of registration. Formally, the company can be established in a single working day, followed by roughly one more week to finalize all auxiliary tasks such as banking setup, accounting arrangements, and securing an electronic signature. If you engage a full-service law firm, they can handle both phases on your behalf, though some clients choose to take over the post-registration tasks themselves.
8. Post-Registration Formalities and Licenses
Once the company is operational, employment contracts will be necessary for both local and foreign staff. In the case of foreign employees, registering with migration authorities is obligatory. Certain types of business activities also require licenses, which can be obtained through the relevant ministries or state agencies. If you lack the time or experience to deal with these procedures personally, a local legal firm can handle them for you. For instance, our team offers comprehensive legal assistance and ongoing support, as detailed at
https://e-sud.by/useful/blog/pravovoi_abonement,
allowing you to remain focused on growth and client relationships.
9. Why Collaborate with Our Legal Team
Our firm has extensive experience in corporate matters, regularly assisting foreign entrepreneurs in registering new companies within Belarus and abroad. We have over 10 seasoned lawyers, each with 15–25 years of professional experience, and they all speak English fluently. Working in teams allows us to expedite tasks and keep each project transparent for the client. Meanwhile, our director’s 20-year tenure in economic courts, including 10 years as a judge, equips us with unparalleled insights into the nuances of local legislation and dispute resolution.
We pride ourselves on having more than 100 positive client reviews, which testify to our reliability and effectiveness. Through a network of partners in 37 countries, we consistently receive recommendations, further illustrating our commitment to high-quality legal support. When you hire us to open your company in Belarus, you benefit from a proven process, clear communication, and a timeframe designed to align with your business objectives.
10. Ready to Open a Company in Belarus?
If you are considering launching your business in Belarus and want the process to be both efficient and legally sound, we invite you to request a consultation on our website.
From initial consultation through post-registration assistance, our lawyers stand ready to handle every stage. Whether you prefer a fully managed service or need selective expertise, we tailor our approach to fit your specific needs. Our goal is to ensure that you can unlock the Belarusian market with confidence, enjoying the benefits of strategic positioning, competitive operating costs, and a well-regulated environment. Reach out today and let us guide you step by step, so that your venture in Belarus starts on the strongest possible footing.