Belarus is an Eastern European country that has been making strides in economic growth and development in recent years. As a result, many entrepreneurs are looking to start their businesses in Belarus. If you’re one of them, this article will guide you through the steps needed to register your business in Belarus.
Table of Contents
Choose your business structure
Before you can register your business in Belarus, you need to decide on the legal structure that suits your business needs. The most common forms of business structures in Belarus are:
Limited Liability Company (LLC): This is the most popular business structure in Belarus. It provides limited liability to its shareholders, and it can be registered with as little as one founder.
Joint Stock Company (JSC): This is a business structure that allows you to raise capital by selling shares in the company. It is suitable for larger businesses with multiple shareholders.
Sole Proprietorship: This is a business structure where one person owns and operates the business. It is the simplest and most affordable business structure to set up, but it comes with unlimited liability.
Choose a name for your business
The next step is to choose a name for your business. The name must be unique and not already registered with the National Center of Legal Information of the Republic of Belarus. You can check the availability of the name online.
Obtain necessary permits and licenses
Depending on the nature of your business, you may need to obtain permits and licenses from various government agencies. For example, if you’re starting a restaurant, you need to obtain a food service license. You can get information about the necessary permits and licenses from the Ministry of Economy of the Republic of Belarus.
Register your business
Once you have completed the above steps, you can proceed to register your business with the National Center of Legal Information of the Republic of Belarus. The registration process involves the following steps:
Draft the founding documents: The founding documents of the business, such as the articles of association, must be drafted and notarized.
Deposit the charter capital: The minimum charter capital for an LLC is 1 Belarusian ruble. For a JSC, it is 50,000 Belarusian rubles.
Submit the documents: Submit the founding documents and other required documents to the National Center of Legal Information of the Republic of Belarus.
Pay the registration fee: The registration fee for an LLC is 300 Belarusian rubles. For a JSC, it is 2,000 Belarusian rubles.
Register for tax purposes
After registering your business with the National Center of Legal Information of the Republic of Belarus, you need to register for tax purposes with the tax authorities. You will receive a tax registration number (TRN) that you will need to conduct business in Belarus.
In conclusion, registering a business in Belarus can be a complicated process, but with the right guidance, it can be done efficiently. Generis Global can help you with your business in the country by providing legal support throughout the registration process and beyond. Contact us to help you with the legal part of your business journey in Belarus.