Specificity of company formation in Belarus
As per Belarusian enactment, organisations can be set up by physical persons or by companies. Non-residents are qualified for beginning a business in Belarus as long as they submit to the applicable legitimate necessities. Citizens of Belarus and foreigners have equal opportunities, obligations and rights doing business by means of establishing legal entities.
Company Formation in Belarus and Taxation
Current tax rates in Belarus: VAT 20%, income tax 13% and profit tax (top rate) 18%. Taxes in Belarus for international companies vary a lot and depend on many factors such as: business legal form, business size and place where company is registered. Republic of Belarus offers different possibilities to experience low tax regime, some of these are:
Special economic areas;
People’s Republic of China and Belarus special industrial area;
Rural areas and small cities;
Additionally, special tax preferences might be provided for companies that make investment in Belarus.
Process of Company Formation in Belarus
For the first step, non-residents are required to provide personal documents to prove their identity. These documents have to be notarised, translated into Belarusian or Russian language and apostilled.
If shareholder is a company, then corporate documents have to be provided. These documents have to be notarised, translated and apostilled too. Then to set up a company in Republic of Belarus the following steps have to be performed:
Decision making on legal form of business. (it could LLC, JSC, partnership etc) The most popular form in Belarus is LLC;
To get approval on the name of the legal entity. This might be done electronically;
To find an office space and legal address or to obtain virtual office;
To arrange management board and form articles of association;
To pay state fee;
To provide all required documents to business registry and get approval;
To order a seal. It’s mandatory to have a seal in Belarus;
To hire and arrange accountant or accounting company;
In case of JSC to issue and register shares.
Our specialists will assist you to set up a company in Belarus within a short period of time without hassling. We will prepare all required documents, provide legal address and register a company just within couple weeks. After company formation we open bank account in Belarus or outside of Belarus for your newly formed company and arrange an accountant.
Company formation in Belarus might be done remotely, without your presence!
To get more information and quotation just send us a message!