GSL / Offshore and International Law. Offshore companies registration. / Offshore zones / Legislation of Belarus

Legislation of Belarus

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
Civil Code
Civil Code
Tax Code (General Part)
Taxes
Tax Code (Special Part)
Taxes
Law on Business Companies
Companies
Banking Code
Banks
Law on Insolvency Resolution
Bankruptcy
Law on Securities Market
Securities
Law on Measures to Prevent Money Laundering, Financing of Terrorist Activities and Weapons of Mass Destruction Proliferation Financing
Anti-Laundering
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Tax treaties entered

Armenia
Austria
Azerbaijan
Bahrain
Bangladesh
Belgium
Bulgaria
China
Croatia
Cyprus
Czech Republic
Denmark
DPRK
Ecuador
Egypt
Estonia
Finland
France
Georgia
Germany
Hong Kong
Hungary
India
Indonesia
Iran
Ireland
Israel
Italy
Japan
Kazakhstan
Korea
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lithuania
Macedonia
Moldova
Mongolia
Netherlands
Oman
Pakistan
Poland
Qatar
Romania
Russia
Saudi Arabia
Serbia
Singapore
Slovakia
Slovenia
South Africa
Spain
Sri Lanka
Sweden
Switzerland
Syria
Tajikistan
Thailand
Turkmenistan
Turkey
United Arab Emirates
United Kingdom
United States
Uzbekistan
Venezuela
Vietnam

Tax Exchange Information Agreement (TIEA)

No

List of state regulatory authorities

President
https://president.gov.by/ru
Government
https://www.government.by/ru/
Ministry of Foreign Affairs
https://www.mfa.gov.by/
Ministry of Finance
https://minfin.gov.by/
Ministry of Taxes and Collections
https://nalog.gov.by/
Unified State Register
https://egr.gov.by/egrn/
National Bank
https://www.nbrb.by/

Corporate info

Legal system
Belongs to the family of Romano-Germanic law
Types of entity
- Individual entrepreneur;
- Business Partnership;
- Limited Liability Company;
- Company with additional responsibility;
- Joint Stock Company;
- Production cooperative;
- Unitary enterprise
Shelf companies permitted
Yes
Incorporation timescale for a new company
Up to 5 working days
Company suffix
The name of the company should contain an indication of the legal form of organization
Sensitive words
Inclusion in the name of the company of references to the official full or abbreviated name of the Republic of Belarus, the words “national” and “Belarusian” are allowed in accordance with the procedure determined by the President of the Republic of Belarus
Cyrillic alphabet permitted in company name
Yes
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
Corporate documents, reporting
Seal required, type of seal
There is no indication in the legislation that a seal is obligatory, but if it is present, it is easier to prove the authenticity of documents and official papers
Redomiciliation (to, from) permitted
No

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
No
Directors’ meetings/frequency/location
No restrictions
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
No restrictions
Disclosure to local agent
No
Disclosure to public
No
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
Not established
Minimum issued share capital
Not established
Minimum paid share capital
Not established
Authorized capital payment deadlines
Not established
Issued capital payment deadlines
Not established
Standard currency
BYN
Standard authorized share capital
—
Standard par value of shares
1 BYN
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
13%
Сorporate tax
20%
Corporate tax (in detail)
The basic rate of profits tax is 20%. But if the profit of an organization without taking into account the activities of branches in the reporting period exceeds BYN 25 000 000, profit tax is charged at the rate of 25%. Banks and insurance organizations; microfinance organizations; forex companies also pay 25% tax
Capital gains tax
20%
Capital gains tax. Details
Regular rate
VAT
20%
VAT. Details
The VAT rate is 20%, but there are a number of goods and services for which exemptions are available
Withholding tax
15% (dividend), 10% (interest), 15% (royalty)
Other taxes
Excises, Real Estate Tax, Land Tax, Environmental Tax, Tax for extraction (removal) of natural resources, Transportation Tax, etc.
Exchange control
Yes
Government fee
Yes
Stamp duty
Yes

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
No
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
No
Audit required
Yes

General information shortly

Location
Eastern Europe
Total area
207 628 square kilometers
Population
9 200 617 (2023)
Capital
Minsk
National currency
Belarusian ruble
Conditional reduction of currency
BYN
Against USD
0,31 (2024)
Climate, average max and min t°
Temperate continental, in the west - transitional from maritime to continental
Time difference from Moscow
No
Dialing code
+375
State language
Belarusian and Russian
Ethnic groups
Belarusians, 84,9%; Russians, 7,5%; Poles, 3,1%; Ukrainians, 1,7%; as well as Jews, Armenians, Tatars, Roma, Azeris, Lithuanians, Turkmens, and others
Literacy rate
99,9% (2024)
History
—
Credit rating
B
Government type
Unitary republic of presidential type
Executive branch
Government - The Council of Ministers is the central body of state administration. The Government consists of the Prime Minister, his deputies and ministers. The Government may also include heads of other state bodies and organizations. The Prime Minister is the head of the government
Legislative branch
National Assembly - Parliament consisting of the House of Representatives and the Council of the Republic. The Council of the Republic is the chamber of territorial representation. The composition of the House of Representatives is 110 deputies. The term of office of the Parliament is 5 years
Judicial branch
The Supreme Court heads the system of courts of general jurisdiction and is the highest judicial body. In 1994, the Constitutional Court was established in Belarus, which was transferred from the Supreme Court to interpret the Constitution and determine the compliance of legislative acts with constitutional norms
Unemployment
3,5% (2023)
GDP per capita rank
80 (2021)
Corruption perceptions index rank
Corruption Perception Index (37, 2023)
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