Currently, there is no strict regulation to open accounts for non-resident companies in Belarus, as, for example, in Europe. Of course, it all depends on the decision of the compliance Department of each bank. But companies from Hong Kong, Panama, Venezuela, the Marshall Islands, Vanuatu and other “famous” jurisdictions have achieved success here.
Probably, in Europe, some countries have black lists for such jurisdictions. But there is only one rule for Belarusian banks. This rule is that the company activity or company’s shareholders (beneficiaries) do not belong to the “black list” activities like sponsorship of terrorism, money laundering, etc.
To open a bank account of a non-resident company in Belarus, we need only from the client:
1) Power of attorney in our name. Which must be translated into the English language, notarized and apostilled (the text of the power of attorney we send).
2) An application for opening a bank account (in the bank form). Completed on behalf of the legal entity and signed by the head of the legal entity (a representative of the legal entity acting under the power of attorney and other legal grounds within the powers granted to him, sealed with the legal entity’s seal or seal of the representative office (branch). The application will be submitted in 1 (one) copy.
3) A copy of the document confirming the state registration of the legal entity. It can be: extract, copy of the extract from the trade register of the country of registration of a legal entity, other document confirming the legal status of a legal entity in accordance with the legislation of the country of its establishment. All documents must be tailored to the requirements of the legislation of the Republic of Belarus.
4) Copies of constituent documents. It can be: the Charter and (or) foundation agreement, or other document stipulated by legislation of the country of registration of the legal entity, under which they operate, in compliance with the requirements of the legislation of the Republic of Belarus.
5) A card with samples of signatures (in the bank form) of persons authorized to sign documents for settlements on behalf of the client, and a seal printed in the presence of an authorized employee of the bank or notarized (at the request of the client).
6) Client application form and other documents (if necessary) in accordance with the Internal Control Rules (KYC).
7) Documents confirming the authority of the person signing the card.
After our specialists receive the documents from your side, the terms of opening accounts are from 2 weeks to 2 months. Sometimes the compliance department may request additional information and it takes time to prepare it.
After accounts are ready the director of the company or any other official from company (with POA) need to come to Minsk to sign form with example of his signature to activate internet-banking. Without it internet-banking will be not activated!
Finally, you need to activate internet-banking via Belarusian SIM card and decide how you will manage your accounts. Also we provide eSim services, if you are using iPhone 10 and it’s latest versions.
Our company provides account and SIM card management services, so you can be fully confident that your transactions will be complete.