Opening a bank account in Belarus as a non-resident—a foreign company, representative of a foreign business, or individual who does not have permanent residence in the country—is associated not only with KYC compliance procedures, but also with confidentiality issues. Naturally, the question arises: who and under what circumstances can access the information provided by the non-resident to the bank? How well is the client’s data protected? Which authorities and on what grounds have the right to request this information?
The modern banking system of the Republic of Belarus is focused on striking a balance between ensuring the transparency of financial flows and protecting the rights of bona fide clients. At the same time, banks are obliged to comply not only with internal guidelines but also with the requirements of legislation on combating the legalization of criminal proceeds, currency regulation, tax control, and the country’s international obligations.
In this article, we will examine the data that the bank may transfer in the process of opening and servicing a non-resident’s account, who is entitled to receive such information, in what cases it is disclosed, and how the non-resident can protect their interests within the existing legal framework.
What information does the non-resident provide when opening an account
Opening an account by a non-resident in a Belarusian bank is a procedure that involves client verification and providing a set of information. Banks are guided by principles of financial transparency, internal control requirements, and risk assessment. However, each bank has the right to independently determine the list of documents and information requested from the non-resident when opening an account, based on its compliance policy and internal procedures.
List of data provided to the bank
In a typical situation, the non-resident provides the following information:
- identification data (passport, registration documents translated into Russian or Belarusian).
- Information on ownership structure and beneficiaries.
- Information about the nature of the intended account operations.
- Documents confirming the origin of funds.
- Information on business reputation and business activity (for companies).
- Contact information and location address.
Some banks may additionally require a business plan, financial statements, contracts with Belarusian business partners, or other justifications for the business purpose of opening the account. Such requirements usually depend on the client’s jurisdiction of origin, the nature of their activity, and the assumed risk level.
Features of client identification
The bank is obliged to carry out the identification of the non-resident and their representatives, either in person or remotely (if allowed by the specific bank’s rules). As part of this procedure, document authenticity is verified, biometric data is collected (in some cases), and business reputation assessment is conducted.
Special attention is paid to identifying the ultimate beneficial owner (UBO), especially in cases involving multi-level corporate structures or companies from offshore jurisdictions.
Storage and protection of the information provided
All information submitted to the bank by a non-resident is considered banking secrecy. Banks must ensure their confidentiality, protection from leaks, unauthorized access, and misuse.
Access to the data is strictly regulated, both within the credit institution itself and when responding to external requests. Information is stored according to the bank’s internal regulations and personal data protection requirements. Document retention periods usually amount to at least five years from the date of client service termination.
Who is entitled to receive information about a non-resident account opening
Despite banks’ obligation to maintain the confidentiality of information about their clients, including non-residents, in some cases, they can (and in certain situations must) transfer such information to third parties. Banks only provide the information obtained when opening an account for a non-resident based on specific grounds and within the framework of established procedures. Below, we will consider exactly to whom the bank can disclose information about a non-resident and under what circumstances this happens.
1. Government authorities (tax, financial, law enforcement)
The bank can provide information about a non-resident to the government authorities of the Republic of Belarus upon their motivated request. The most common cases are:
- checking compliance with tax legislation and currency regulation.
- Monitoring financial transactions within the framework of combating the legalization of criminal proceeds, preventing terrorist activities, and financing extremism.
- Conducting pre-trial or operational investigations.
In such situations, the bank provides a strictly defined amount of information necessary for the purpose of the request. The request is formalized according to the prescribed procedure, specifying the particular bank client and the basis for providing the data.
2. Courts and judicial officers
Within the framework of judicial proceedings or enforcement processes, the bank is obliged to provide data on accounts, transactions, or balances upon the request of a court or judicial officer. This may involve debt collection, securing a claim, or enforcing a court decision.
It is important to note that even in this case, only the information directly necessary for the purpose of the specific process is disclosed.
3. Foreign government authorities (within international exchange frameworks)
Belarus participates in several international agreements related to the exchange of financial information. Within such agreements, the bank may transfer information about a non-resident to foreign tax or financial authorities if the request meets established criteria.
Most often, information is provided:
- for tax administration purposes.
- Through international cooperation channels in the field of financial intelligence.
- Within the framework of enforcing international sanctions.
Such cases are always accompanied by a legal review by the bank and an assessment of compliance with Belarusian requirements for the protection of banking secrecy.
4. Credit institutions and correspondent banks
In the process of interbank transfers, settlements, or compliance checks, the bank may exchange part of the client’s information with other financial institutions. This is especially relevant for international transactions and currency operations.
As a rule, the following are transmitted within such interactions:
- client identification data.
- The purpose and designation of the payment.
- Information required by international payment system standards.
The purpose of such transfers is to comply with international banking regulations, prevent suspicious transactions, and reduce counterparty risks.
Thus, although in normal practice the bank is obliged to maintain the confidentiality of information about a non-resident, it can still disclose such data to a strictly defined circle of persons and only within the procedures provided by law or international agreements. To avoid misunderstandings or unpleasant consequences, a non-resident needs to know in advance in which cases information may be disclosed and, if necessary, seek support from specialists. SPEX lawyers and consultants can establish reliable communication with the bank, consider all risks, and protect the client’s interests.
How a non-resident can control the protection of their information
Belarusian banks are required to ensure the confidentiality of customer information. A responsible approach to choosing a financial partner, understanding data disclosure procedures, and actively interacting with the bank can significantly reduce the risk of information leaks or unauthorized transfers. Below are key aspects that will help non-residents control the protection of their data.
What to look into when choosing a bank
Choosing a bank is not just a matter of convenience and fees. For non-residents, it is important to consider the following factors:
The bank’s reputation — stable institutions with a proven market record generally have well-established compliance systems and maintain confidentiality at a high level.
International experience — banks that regularly work with non-residents better understand the risks associated with information disclosure and more often offer transparent procedures.
Service conditions and contractual provisions — carefully study how the bank formulates its obligations regarding information protection in contracts and internal documents.
Technological security — pay attention to the level of digital security, availability of online services, and mechanisms for confirming transactions (two-factor authentication, secure communication channels, etc.).
How to Monitor Data Transmission to Third Parties
Although customers are not always notified in advance of the transfer of information (e.g., in response to a request from a court or law enforcement agency), there are several ways to monitor the situation:
Request clarifications from the bank — if you suspect data disclosure, you have the right to send a query and receive general information about the nature of the transmission (if the bank is permitted to disclose it).
Analyze account movements and notifications — sudden blocks, suspension of operations, or unusual requests may indicate an ongoing investigation.
Use legal support — specialists working with non-residents can, within their authority, request information and monitor the legality of the bank’s actions.
Some banks also provide notification to clients about data disclosure incidents (if it does not contradict the law) — it is advisable to clarify this point during the contract conclusion stage.
Recommendations for Interacting with the Bank
Build open relations with the bank. Provide information timely, in full, and in a structured form — this reduces the risks of additional checks.
Keep copies of all submitted documents. This will help in case of disputes or the need to justify your position.
Clarify the rules for storing and transmitting information. Ask directly in which cases and to which authorities the bank may disclose data, and how it protects client information.
Maintain the accuracy of your data. Timely updates of company information, beneficiaries, or contact details help avoid misunderstandings.
Use professional support. Legal and accounting support during the account opening stage and throughout the service process increases your level of security.
Controlling the security of information is not a one-time action, but a process that requires a conscious approach. Competent selection of a bank, regular interaction with it, and professional support from SPEX specialists will help non-residents feel confident and avoid unpleasant consequences associated with unauthorized data transfer.
Practical Tips and Recommendations
When opening an account with a Belarusian bank, non-residents are entitled to confidentiality, but should not take it for granted. To minimize the risk of information disclosure and respond appropriately in the event of suspected breaches of banking secrecy, it is important to act consistently and consciously. Below are practical recommendations that will help you protect your interests at all stages of interaction with the bank.
How to Minimize Risks of Information Disclosure
1. Choose a bank with a clear and transparent data protection policy
Clarify how client information is processed, under what conditions it may be shared with third parties, and whether there are mechanisms to notify the client.
2. Provide complete and accurate information
Attempting to conceal information or provide knowingly false data increases the risk of additional checks and the transfer of information to the competent authorities.
3. Comply with currency and tax regulations
Failure to observe formalities or conducting operations without economic justification may lead to audits and information exchange between countries.
4. Conclude a banking service agreement with legal analysis
It is advisable to analyze the terms of the agreement regarding restrictions, the bank’s obligations, and the client’s ability to control data disclosure.
5. Use professional support
Our lawyers, working with non-residents, can develop a legally secure strategy for opening and using an account.
What to do when suspecting a confidentiality breach
1. Record the facts and collect documents
Keep statements, notifications, correspondence with the bank or counterparties that may indicate unauthorized data transfer.
2. Send an official request to the bank
Specify to whom and on what basis the information could have been transferred. The bank is obliged to consider the request within the established time frame and provide a response (within the permissible limits).
3. Consult with specialists
If necessary, lawyers can draft requests, initiate an investigation, or prepare a complaint to the relevant authorities.
4. Consider changing banks
In the event of systematic violations or a lack of transparency in the handling of customer data, it is worth considering alternative options.
Conclusion
For a non-resident opening an account with a Belarusian bank, confidentiality is an important issue. Although banks are required to maintain banking secrecy, there are cases when the transfer of information to third parties is mandatory. The understanding of these situations, as well as a careful approach to choosing a financial partner and competent interaction with the bank, allows you to minimize risks and protect your interests.
If you plan to open an account in Belarus or already conduct transactions through local banks, it is important not to ignore confidentiality issues. SPEX specialists will advise you on banking service rules and information protection, assess possible risks, and, if necessary, represent your interests at all stages of working with the bank.
Contact us — we will help you build a reliable and transparent strategy for interacting with financial institutions in Belarus.
How to contact us
For more information or advice on issues related to information disclosure for non-resident account holders in Belarus, do not hesitate to contact us. We are here to help and support you.
Phone and email communication options are available for your convenience:
- +375293664477 (WhatsApp/Telegram/Viber);
- info@spex.by.
