Entity set up in Belarus

Belarus – Company establishment

Global Expansion Plus provide you with legal, corporate and secretary services in Belarus. Before you start the process of registration you need to consider the following questions:

Legal forms

Getting your legal form right is a key to success. Before starting a business you need carefully select a legal from the will best suit your needs and potentially will save you money and time. So before you consider entity sent up you need to address the following questions:
  • How to make the best choose of legal form of the business?
  • What are the pros and cons of a given legal from?
  • What are the basic requirements of each form?
  • What risks are associated with each form?

Please refer to our publication and articles to find more information.

Taxation regime

  • What type of tax system to choose taking into consideration the planned activity?
  • What tax incentives you can use in your business?
  • What the official tax loops available for your business?

Please refer to our publication and articles to find more information.

Name of the company

Prior to submitting documents for state registration to the registering authority, the founders have to agree with the registration authority the company name. Approval of a company name is free of charge it can be done submitting respective application.

Registration address

A company can be located only in non-residential premises. Documents regarding location of the company are not submitted to the registration authority. However, information about the whereabouts must be indicated in the charter of the company and application for state registration. Global Expansion Plus offers a virtual address service.

Founder: legal or individual

Depending on whether the founder (owner оr shareholder) is going to be a foreign legal entity or physical individual the process of incorporation and required documents can be different. We need a certified copy of founder’s passport or founder company’s extract from register (not elder than 1 year) with apostille. Presence of the participants for registration of a company in Belarus is not required. All registration actions can be carried out under a Power of Attorney.

Types of activity

A founder has to determine all and the main types of business activity that the company will carry
out. Some business activities require license. Usually licensed business activities require from
director to have an education in sphere of such activity.

Amount of issued/share capital

The statutory fund (charter capital) of a company may consist of a monetary and (or) non-monetary contribution (securities, property rights, other property). The statutory fund must be declared in Belarusian rubles. It is possible to make a contribution to the charter capital in foreign currency, but its equivalent has to be indicated at the official rate of the Belarusian ruble to the corresponding foreign currency, established by the National Bank of the Republic of Belarus on the date of actual
contribution. The minimum amount of the authorized capital for LLC is not established by law. Under current law, the founders of LLC may, at their discretion, form the authorized capital of LLC either before state registration (this variant requires to open a temporary bank account) or after registration (not later than within 12 months after registration).

Directorship

Director can be local or foreign citizen. Foreigner needs to get a special permit which must be received within a 1.5 month, but there is no need for foreign citizens to pay insurance and pension contributions. If the company is not using the Simplified tax system it also necessary to appoint an accountant.

Client journey

Initial stage

  • Consolation with our corporate lawyer targeting all points listed above;
  • Preparation of notarized and apostilled Power of Attorney (if needed);
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Registration Stage

  • Reservation of business name;
  • Preparation of the article of association (in 2 copies);
  • Preparation of the minutes of the general meeting of members of the company;
  • Paying of government fee (25.50 Belarusian rubles);
  • Filling out an application for state registration of a legal entity;
  • Registration of the company with state registrar;
  • Receiving one copy of charter marked as registered, certificate of registration;

Tax Stage

  • Registration of book of tax audits (within 1 month from moment of registration);
  • Submission of application for Simplified tax system;
  • Directors employment registration with tax authorities;
  • Signing accounting outsourcing contract to support your activities and tax compliance.
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Final stage

  • Opening a bank account;
  • Signing a legal support contract;
  • Ordering a seal.

Additional services

  • Transaction support- merges and acquisitions;
  • Change of the legal address;
  • Change of name of the company;
  • Change of director;
  • Change in issued capital;
  • Other changes to the charter documents of a legal entity;
  • Registration of TM (trademark);
  • Copyright registration;
  • Contract preparation;
  • Obtaining certificates or tax registration;
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