Today Belarus is one of the countries which has not ratified any international agreement about exchanging information between tax departments and other financial institutions of European, American and Asian countries. Thus, if you decide to open a bank account in the Belarusian bank as individual or as a non-resident company and keep anonymous information about your funds and transactions it is one of the best options.
Accounts for Individuals
In Belarus not every bank likes to operate with foreign funds, it is possible to do and there are no any problems with the law, but mostly you can hear that your request was not approved with some formal legal grounds. So what bank to use for your needs our experts will decide after they will understand what directly you need.
We can offer for our clients to open a personal bank account with personal debt card of different level. It can be standard debit cards from VISA and MasterCard or high level cards like VISA Infinite and MasterCard Black. The level of the card is only affected by the by the withdrawal percentage and some additional service such as a personal manager, priority pass to the airport, priority tickets booking and some sales at the local grocery stores and services.
The card service depends on your balance and agreement with the bank. Usually, if you keep at least 25 000 USD in your account, the card service is free, if it is less than this amount, the banks usually charge from 30 to 50 USD per month.
To get a high-level card with 0 withdrawal fees (0% means that your card will only be charged the fees of the local banks where you withdraw money) usually cost 3000 EUR and the banks provide you with 5-6 high level cards.
You should know that the passport you own is an important condition. Sometimes compliance departments in banks do not want to deal with citizens of a country with an unstable economic situation or a country with high currency risks. Anyway, our team has extensive experience of cooperation with Belarusian banks, so we have the tools to lobby the needs of our clients.
The personal account can be opened when the client is personally in Belarus or remotely.
If you are in Belarus we just need
1) officially approved translation of your passport into the Russian language
2) your personal visit with our lawyer to the bank. We are working only with private and VIP departments in the banks, so you will not wait at the bank, we shall go directly to register your accounts.
If you want to open an account remotely, we need to receive from your side several documents that will be officially approved and apostilled.
To open a bank account remotely, we need:
1) power of attorney in our name, which is notarized and apostilled.
2) passport copy of the client, which is also notarized and apostilled.
Please note that on the stamp or seal of the notary must be information about the country where the notary acted.
Another important thing is what to do if your country is not a part of the Hague Convention and you cannot put an apostille on your documents. In this case, you need to come to any nearest Belarusian or Russian Embassy and make there an official translation of all documents into the Russian language, after the documents bear the seals of the Embassy you need to send them to us by courier such as DHL, UPS or FedEx.
All the documents that you will send to our company must be in the original and in the paper version, Belarusian banks do not have an approved digital apostille!
Terms of opening accounts – from 1 to 3 days.
Individual Internet Banking (IB).
Individual Internet banking is usually provided through a mobile application or web browser on your computer. It must be connected to the Belarusian mobile number. This is the two-factor authentication that banks use (they send the sms code to confirm any account transaction or change some information). The problem is that the number must be only Belarusian with the possibility to receive the international sms with the code, and the second problem is that foreigners can register a SIM card in Belarus in their name only for local calls (personally in Belarus) without the possibility of the international sms.
So to get the code from the bank, you need to have an international sms. There are only two ways to do that:
1) register a Belarusian company and register a SIM card in the name of the Belarusian company, but it is not profitable to register a company only for a SIM card.
2) our company provides a service for our clients where they can receive Belarusian SIM cards with international sms, so you can not to worry about it.
There is no minimum for making a deposit to your personal account and it is tax free to deposit money to your account in Belarus, only one thing is the bank can ask the source of your income, but if you make a bank transfer or make cash from cryptocurrency in the Republic of Belarus, there will be no problem, we shall provide you with professional advice for such cases.