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Belarus Company Incorporation Requirements

Updated:2018-4-4 14:39:35    Source:www.tannet-group.comViews:326

Belarus company incorporation is also known as Belarus company registration, Belarus corporate formation and Belarus business setup. Belarus is situated in the heart of Europe, so its transport routes connect the CIS countries with the lands of Western Europe. Belarus has common border with Lithuania, Poland, Latvia, Russia, and Ukraine. The capital of the republic is Minsk.

The Belarusian government welcomes responsible foreign companies looking to set up in the country. Belarusian laws provide for various organizational-legal forms of commercial organizations.  Requirements on Incorporating a Company in Belarus collected by Tannet are shown below.

1. Types of Company
Investors are entitled to incorporate a legal entity in Belarus with any amount of investments in any legal form, provided for by Belarusian legislation:

(1) limited liability company (LLC);
(2) additional liability company (ALC);
(3) joint-stock company (JSC);
(4) unitary enterprise (UE).

It is necessary to allocate such legal form as UE. This is a special form of the Company, which inherent to the legislation of Republic of Belarus. In contrast to other forms of Companies UE does not owner of assets on its balance sheet. All assets of any unitary enterprise is owned by its founder and belong to UE by virtue of the right of commercial management.

All types of Companies (with the exception of a unitary enterprise) can be incorporated both with a sole or several incorporators.

2. Company Name
In order to register business in Belarus it is necessary to have a unique name of the legal entity. In case of using the name in foreign languages, it is necessary to be transliterated. Only firms in the capital of which there are share of state-owned assets can use the words “Minsk” and “Belarus” in their names.

3. Legal Address
In accordance with the Belarusian legislation, legal address of the company is the location of the Director General, of the Directorate, that is - of the permanent body. Entrepreneurs use two forms of registration of legal address:
(1) Virtual office;
(2) Standard legal address.

4. Director General
Resident of Belarus and foreign person can act as Director General. In this case the foreigner should receive formal request from the company to obtain appropriate licenses and attract labor force from other state (except for the Kazakhs and the Russians).

Founders are not required to be present in person, the registration of company in Belarus can be performed per power of attorney.

5. Bank Account Opening
Account of registered company can be opened in Russian rubles, Belarusian rubles, euros, and dollars. The procedure is executed by the local banks of Belarus.

Important Tips
After completing the registration procedure and obtaining original documents, important step is submission of primary reporting (tax and statistical). In the case of failure in submission of even a single quarterly report, even zero report, the company is subject to a legal fine.

Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.

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