Company registration in Belarus
You decided to open a company in Belarus? You are considering Belarus as the place to make some investment? SPEX consultants will help you to open a company in Belarus and organize your business here from the beginning.
Nowadays the most popular form of legal entity in Belarus is a Limited Liability Company (LLC). In Belarus more than 95 % of all companies are registered in the form of LLC. Why does a businessman in Belarus choose LLC?
– LLC is the most flexible form of company: easy to manage, flexible corporate structure and governance;
– LLC doesn’t require any minimum capital to declare: you can register LLC in Belarus with even 100 (one hundred) USD capital;
– 12 (twelve) months to pay the capital: basically when you register the company you have to just declare the capital – it should be paid within 12 (twelve) months from the date of company incorporation;
– LLC can be established by a single person (maximum number of shareholder can not exceed 50).
Corporate structure in LLC
1) General Meeting of Shareholders (GMS): this body takes main decisions such as director appointment, capital increase, reorganization procedures etc.
2) Director: this body is appointed by GMS. Director manages the company, hires employees, signs all documents on behalf of a company, represents the company in all government authorities.
3) Board of Directors (BoD): can be created optionally by GMS. All members of BoD are appointed by GMS. BoD takes decisions on main directions of company’s business activity as well as approve some deals of the company.
Timeframes of company registration in Belarus
It takes maximum 3 (three) working days to open a company in Belarus.
Steps of company incorporation procedures in Belarus
Step 1. Definition of structure of shareholders and corporate structure
Step 2. Company name approval
Step 3. Virtual address preliminary agreement
Step 4. State fee payment
Step 5. Documents submission
Step 6. Stamp
Step 7. Bank account opening