When opening a bank account in Belarus, a non-resident must consider not only the internal requirements of banks but also the norms of legislation in the fields of currency regulation, customer identification, and combating financial violations. In practice, foreign individuals and legal entities often have a question: in what cases and to whom can or is a bank obliged to transfer information received when opening an account?
This issue is particularly important for maintaining banking secrecy and current legal regulations. The transfer of data may be related to the implementation of measures to combat the legalization of criminal proceeds, the financing of terrorism, and the proliferation of weapons of mass destruction, as well as the exchange of information within the framework of international cooperation.
In this material, we will consider:
- In what cases are Belarusian banks required to disclose information about non-resident clients?
- To whom exactly and on what basis may such information be transferred?
- How are relations between banks, government agencies, and foreign jurisdictions regulated?
- What confidentiality guarantees are provided to clients by Belarusian legislation?
Let’s look at how banks maintain a balance between financial control requirements and protecting the rights of foreign clients in practice.
Cases in which Belarusian banks are required to disclose information about non-resident clients
Although the legal norms of the Republic of Belarus enshrine the principle of banking secrecy, there are certain cases when banks must provide information on accounts, transactions, and clients’ data, including non-residents’. Legal norms regulate such cases and are usually associated with ensuring the legal transparency of financial transactions and fulfillment of Belarus’s international obligations. Let’s consider the main situations:
1. At the request of authorized state bodies of the Republic of Belarus
Banks are required to provide information about non-resident clients to the following authorities:
- Investigative, judicial, and law enforcement agencies – as part of the investigation and consideration of criminal, administrative, and other cases.
- When conducting inspections in tax, currency, and financial control, to the State Control Committee and the Department of Financial Investigations (DFI).
- To the National Bank – supervising compliance with currency legislation and financial reporting.
- To the Ministry of Taxes and Duties: When analyzing transactions’ compliance with tax legislation requirements, including checking the fulfillment of tax obligations by a non-resident and filing tax reports.
It is important to note that requests from government agencies must be based on specific legal grounds.
2. When exchanging tax information between CIS countries
Since September 2020, Belarus has been participating in the automatic exchange of tax information between the CIS countries based on the relevant Protocol. However, data transfer is limited to the CIS countries only.
Belarusian banks do not participate in the international CRS system and do not transfer information about non-residents’ accounts to tax authorities in other countries (outside the CIS).
3. As part of combating money laundering and terrorist financing (AML/CFT)
Banks are required to comply with the requirements of legislation in the area of combating money laundering and terrorist financing, namely:
- Conduct identification of clients and their beneficial owners.
- Monitor transactions to ensure they are consistent with the client’s normal activities.
- Report suspicious transactions to the Financial Monitoring Department of the State Control Committee.
Particular attention is paid to transactions outside the normal course of business, have no apparent business purpose, or exceed established threshold amounts.
4. Based on court decisions and international requests
Banks may disclose information:
- According to the decision of the Belarusian court that has come into force.
- Within the framework of international legal assistance, for example, through Interpol or based on international agreements.
- In case of seizure of accounts or forced collection of client assets.
Thus, information about non-resident clients in Belarus is disclosed strictly within the framework of the law and only upon official requests. This allows us to simultaneously protect clients’ rights and fulfill international obligations to combat financial crimes.
Confidentiality guarantees for non-residents in Belarusian banks
Despite the cases of disclosure of information about clients established by law, the basic principle of banking secrecy continues to operate. It ensures high data protection for account holders in Belarusian banks, including non-residents. Exceptions to the principle of confidentiality are strictly regulated, and the transfer of information is allowed only within the framework of clearly defined legal procedures. This makes the banking system of Belarus resistant to legal risks and protects clients from uncontrolled dissemination of their data. Let us consider the main guarantees of confidentiality :
1. Banking secrecy is enshrined in law
Provisions on banking secrecy are contained in the Banking Code of the Republic of Belarus. Banking secrecy includes:
Data on clients (legal entities and individuals , including non-residents) .
- Information about accounts, balances, and transactions.
- Information about agreements concluded with the bank and conditions for placing funds.
- Information about beneficial owners.
- Any other information obtained while servicing the client.
Banks cannot transfer such data to third parties except in cases provided for by law.
2. Access to information is possible only based on legal norms
Belarusian banks do not disclose data on requests:
- Individuals, business partners, and other persons without the client’s written consent.
- To government agencies – without a legally justified request.
Each request must meet established requirements and be completed in the prescribed manner, which protects clients from arbitrary interference in their banking relationships.
3. International data exchange is strictly regulated
As of 2025, Belarus does not participate in the automatic exchange of financial information CRS (Common Reporting Standard). This means the following:
- Data on non-residents’ accounts in Belarusian banks is not transferred to other countries automatically.
- The transfer is possible only through official channels based on interstate agreements and requests for legal assistance.
- The decision on the transfer is made by the competent authority, for example, the Ministry of Taxes and Duties, and not by the bank directly.
This system further enhances the protection of clients’ confidential information.
4. Liability for breach of confidentiality
Disciplinary, administrative, and criminal liability is provided for illegally disclosing information constituting a banking secret. Banks and their employees are obliged to strictly comply with information protection requirements.
In practice, protecting clients’ privacy, including non-residents, remains one of the key priorities of Belarusian banks, especially given the control of the National Bank and financial monitoring authorities.
The balance between financial control and customer protection
The financial system of the Republic of Belarus strives to maintain a reasonable balance between compliance with international standards of transparency and protection of the rights of bona fide clients. This is especially important for foreign individuals and legal entities opening accounts in Belarusian banks.
Here is how Belarusian banks ensure a balance between control and protection of non-residents’ interests:
1. Comprehensive customer identification and verification (KYC and AML)
When opening an account for a non-resident, Belarusian banks are guided by the principle of reasonable care: they request the minimum required package of documents, identify the client, and analyze the source of funds. This approach allows:
- Comply with the requirements of legislation in the field of combating money laundering (AML) and terrorist financing.
- Avoid collecting unnecessary information; collect only what is necessary to open an account.
- Conduct an objective check without discrimination based on the client’s citizenship, jurisdiction, or status.
Banks strive to minimize formal procedures if the client provides transparent and substantiated information about his activities.
2. Transparent interaction with government agencies
When receiving an official request (for example, from law enforcement or tax authorities), banks act strictly within the framework of legal requirements:
- They check the validity and correctness of the request.
- Provide only the information that was officially requested.
- Notify the client of the request and information provision if the law permits.
This procedure eliminates arbitrary or excessive data disclosure and gives clients confidence in the legality of the bank’s actions.
3. Effective internal control procedures
Banks carry out internal control of clients’ transactions, but this process is not aimed at interfering with their business activities. In practice, this is expressed in the following:
- If suspicious transactions are detected, the bank may request additional clarification.
- The operation is carried out without delay if the client confirms the transaction’s legitimacy.
- Information is transferred to financial monitoring authorities only if there are signs of a serious violation.
This allows conscientious clients to use banking services in conditions of confidentiality and comfort.
4. Focus on long-term partnership
Belarusian banks view non-residents as partners, not as a source of increased risk. This is reflected in:
- Individual approach to foreign clients, including international business structures.
- Strict adherence to confidentiality principles.
- Providing advice on currency regulation, cross-border settlements, and tax aspects of transactions.
Banks strive to comply with legal requirements and create a reliable, predictable, and secure environment for foreign investors and clients.
Conclusion
Opening an account in a Belarusian bank by a non-resident is accompanied by compliance with strict requirements of legislation in the field of currency regulation, customer identification, and prevention of financial crimes. At the same time, Belarusian banks ensure high confidentiality and reliably protect information about their clients.
Information about non-residents is transferred only in cases stipulated by law and exclusively upon official requests from competent authorities. International data exchange is strictly regulated, which further minimizes the risks of uncontrolled dissemination of information. Belarus’s banking system strives to balance the requirements of financial control and respect for the rights of bona fide foreign clients.
For non-residents, this creates favorable conditions for safe and comfortable use of banking services in Belarus.
Given the complexity of the legislation and the practical nuances of interaction with Belarusian banks and government agencies, non-residents are advised to seek professional legal support.
Qualified lawyers can:
- Correctly prepare documents for opening an account.
- Explain the legal requirements in terms of currency regulation and financial monitoring.
- To support the process of reviewing requests from government agencies.
- Protect the client’s interests in the event of controversial situations.
Proper legal support allows you to minimize the risks of denial of service, avoid legal errors, and ensure maximum protection of the rights and interests of a non-resident in Belarus.
How to contact us
For more information or advice on issues related to opening bank account 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.
