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Foreign Citizen Sets Up a Company in Belarus for the First Time: What Should Be Noticed?

Babitzki Vladislav, Lawyer

Belarusian citizens and foreign citizens have the same rights to conduct business in the Republic of Belarus. However, if a foreign citizen is going to be the founder of a Belarusian company, there are certain details that need to be considered.

First, a foreigner needs to pay attention to identity document: passport or permanent residence permit.

If a foreign citizen has a permanent residence permit for Belarus, he can register a company (as a founder) under the same conditions as a Belarusian citizen.

If a foreign citizen does not have a permanent residence permit, notarized translation of the passport is required (into Russian or Belarusian).

Translations should be prepared in advance and original translations should be submitted at the registration body. Please note that the originals will be kept at the state body, so please prepare several passport translations if it is necessary.

Secondly, attention should be paid to whether foreign citizens can speak a national language of the Republic of Belarus. Why is it important? If it is necessary to give a power of attorney in Belarus, it is necessary to prove that a person can speak Russian / Belarusian at a notary office, otherwise it is necessary to have a special translator to accompany a foreign citizen. If a foreigner proves that he or she understands the one of national languages (a foreigner is able to explain the purpose and reason of the power of attorney in Russian or Belarus and read sentences), then no translation service is required.

Another feature is related to registered capital. The registered capital must be paid within 12 months from the date of company registration. Usually the registered capital is formed in Belarusian rubles. Foreign citizens can also form it in foreign currencies.

However, please note that foreign citizens cannot transfer foreign currency to a bank account under foreign exchange laws.

 

The main mandatory costs required by a foreign citizen when registering a company include:

-State fees, fees for purchasing company books (customer comment book and record of company checks), translation services and notary fees, company seal fees (if official seals are required).

 

Before submitting registration documents, a foreign citizen should determine the name of the future company and its location.

The company is registered. What's next? What to pay attention to?

The main issue is who will be company's director.

The founder can be the director himself or hire a general manager. Foreign citizens without permanent residence permits can also be director, but first they must obtain special work permits.

If the founder wants to be the director of his company, he will have a shorter period of time to obtain a work permit: 3 weeks instead of 6 weeks.

Foreign citizens with permanent residence do not need to apply for a special work permit.

For those studying in Belarus, there are also some benefits: if the first job is related to a profession, you do not need to obtain a special work permit.

After formal employment, foreign citizens can obtain multiple work visas to Belarus. It is worth noting the important fact: if a foreign citizen enters Belarus on a tourist visa, in order to obtain a work visa, he has to leave Belarus and apply for a single-entry work visa at the Belarusian embassy in his country.

Therefore, foreign citizens have the right to set up a company in Belarus and can also work in their own company, but to avoid fines and deportation, they should comply with immigration and employment laws.

If something goes wrong or additional information is needed, it is better to consult an expert.

 

US INVEST law company is experienced in providing services to foreign citizens. We are happy to assist you!