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Starting a Business in

Belarus

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Belarus. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 190 economies. The most recent round of data collection was completed in June 2016.

Compare Belarus to 189 other economies.

  • No. Procedure Time to Complete Associated Costs
    1

    Pay registration fee at a bank

    Agency: Commercial Bank

    Before submitting an application with all the required documents to the State Registry, entrepreneurs must make a registration payment equal to one base unit and attach a bank receipt to the application.

    1 day no charge
    2

    Obtain an approval of the company name with the Registry Administration ("Gorispolkom")

    Agency: Registry Administration ("Gorispolkom")

    Entrepreneurs must obtain a clearance of proposed company name. This is commonly done in the Registry Administration.
    The clearance paper is required to be attached to the application form for registration in the following procedure.
    Obtaining clearance of proposed company name can take as little as a few minutes if the name is not already taken or controversial.

    1 day no charge
    3

    Business registration with the State Registry

    Agency: State Registry

    In order to register a new business entity it is necessary to apply to State Registration Authority with an application form and Articles of Association. The application form includes biographical data on company directors and other company particulars. A Private Limited Company is no longer required to have a Memorandum of Association.

    The registration may be submitted either in person or electronically. Following 2014 reform of company registration procedures, in person applicants are registered online by government personnel. Registration must be completed within 1 day by law.

    Online business registration is free of charge, but in order to submit a registration application via web portal, it is necessary for the applicant to have a pre-approved electronic signature, which carries an additional expense. As such many companies chose to register in person. In person registration costs 1 base unit. Since January 2016 the cost of the base unit is BYR 210,000.

    The State Registration Authority automatically informs state agencies - tax agencies, state insurance agency RUP "Belgosstrakh", statistics agency, Social Security Fund - of new company's registration within 5 working days (7 calendar days).

    1 day BYR 210,000
    4

    Make a company seal

    Agency: Seal maker

    There are no laws requiring a business to purchase company seal. However, the company seal is required for consignment notes and for certain bank transactions and power of attorney. Government agencies, such as the tax authority, would have no legal grounds for refusing documents that do not have a company seal. Nevertheless out of habit, most limited liability companies would purchase a seal. In addition, for the purpose of opening a bank account, it is required to make a company seal.

    1 day BYR 200,000-400,000
    5

    Purchase and register a Book of Registry of Inspections ("kniga uchiota proverok")

    Agency: Tax Administration

    An entrepreneur should visit the local Tax Administration within one month after he/she has been registered with the tax authorities to buy and register a Book of Register of Inspections (“Kniga uchiota proverok”). The Register of Inspections must be purchased from the Tax Administration shop and registered with a unique number (this is done on the same day). The book must be available in every store/business location owned by the limited liability company (e.g. if the company operates 5 stores, each of the stores should have a separate book on Inspections and on comments and suggestions). The form of the Register of Inspection is approved by Decree of the Council of Ministers No 383 dated March 18, 2010.

    1 day 50,000 rubles