How to start a business in Belarus for foreigners?
The procedure for starting a business in Belarus is considered, using the example of a limited liability company (LLC), because such a legal form of organization has some advantages over others. So, the legislation establishes that there can be 1 to 50 participants in an LLC, and the minimum size of the authorized capital is also not provided, it could be even 1 ruble.
It should be noted that any individuals and legal entities (both residents and non-residents of the Republic of Belarus) have the right to act as founders (participants) of an LLC.
An individual foreign founder will need a notarized copy of the passport to open an LLC in Belarus. Therefore, it is necessary to provide the original passport to the Belarusian notary in advance so that he can certify a copy of it.
If the founder is a foreign legal entity, it is necessary to provide a notarized translation of an extract from the commercial register, which will be legalized in accordance with the established procedure.
To start a business as an LLC, the following actions must be taken:
1. Make a decision of the participants on the establishment of an LLC (if several founders are supposed) or a decision of the sole founder.
2. Make an agreement on the name of the organization to be founded.
3. Provide information about the legal address of the opening company.
4. Prepare the charter of your LLC, which should define the points provided by the legislation.
5. Conduct a constituent assembly and sign the charter.
6. Pay the established state fee (1 base amount - in 2021, 29 Belarusian rubles) and submit documents to the registration authority.
Starting a business is carried out on the day of submission of documents. After 5 days, documents will also be issued on the registration of the organization with the competent state authorities (tax, social protection fund).
When the organization is registered, it will be possible to apply for the production of a seal and opening a bank account.
For more detailed advice on starting a business in Belarus, please call to pur senior partner Korochkin Aleksei +375 29 617 24 24.