How to register a company in Belarus: A guide for employers

Belarus: Expand in a rapidly growing business hub, your gateway to Eastern Europe

Belarus is quickly gaining traction as a business hub, attracting more investors each year. As a member of the Eurasian Economic Community (EAEC), this country plays a vital role in fostering economic cooperation between Russia and Central Asia, making it an attractive gateway for businesses expanding in the region.

Strategically located at the crossroads of Europe and Asia, it offers seamless access to key markets like Poland, Lithuania, Russia, and Ukraine. Businesses here enjoy access to a skilled workforce, a strong IT sector, and investor-friendly policies.

If you want to register your company in Belarus, this guide explains the key benefits, costs, and how an employer of record (EOR) can simplify the process.

The business benefits of registering your company in Belarus

Companies often choose Belarus for its competitive tax system, access to Commonwealth of Independent States (CIS) markets, and strategic location between Europe and Russia.

Setting up a company in this country offers several advantages:

• Thriving tech ecosystem: Belarus boasts of a rapidly expanding IT sector and emerging startup ecosystem.
• Favorable tax policies: The country offers business-friendly zones and programs to attract investment and boost the economy. These include:
  • Six free economic zones (FEZs): Brest, Gomel-Raton, Minsk, Vitebsk, Mogilev, and Grodnoinvest.
  • Bremino-Orsha Special Economic Zone
  • Hi-Tech Park (HTP): Designed for IT and innovation-driven businesses.
  • Great Stone Industrial Park: A central hub for manufacturing and logistics.
  • Targeted incentives: Are available in small and medium-sized towns, rural areas (based on activity type), Orsha District (Vitebsk Oblast), and the Southeast region of Mogilev Oblast.
  • Investment agreements: Businesses with government-backed investment agreements can access additional benefits.
• Strategic location: Belarus is a Eurasian Economic Union (EAEU) member, so its businesses face lower tariffs and simplified customs within the EAEU.
• Business-friendly regulations: Processes for foreign investments are fairly streamlined.
• Skilled workforce: The strong education system produces top engineering and IT talent.
• Competitive operational costs: Compared to Western Europe, costs for office space, salaries, and services are lower in Belarus.

These advantages make Belarus an attractive destination for companies that want to optimize costs and expand operations, especially in Eastern Europe.

What are the options for setting up a business in Belarus?

In Belarus, companies must typically register as a sole proprietorship, limited liability company, or additional liability company. But traditional company registration isn’t the only option available. They can also expand their presence by leveraging an EOR.

Let’s explore the advantages of both these options:

Aspect	Standard company registration	Employer of Record (EOR)
Purpose	Establishing a legal entity in Belarus	Hiring employees without forming a local entity
Control	Full operational and legal control	Limited control over day-to-day operations
Cost	Higher setup and maintenance costs	Lower upfront costs and a single service fee
Compliance	You must manage local legal, tax, and labor laws	Your compliance is handled by the EOR
Setup time	Setup takes weeks to months	Setup is done in a few days or weeks
Scalability	Fixed structures make it harder to scale quickly	With EOR, it is easier to scale up or scale down operations

How EOR simplifies company registration in Belarus

An EOR helps businesses expand into Belarus without setting up a legal entity. It handles hiring, payroll, tax compliance, and HR administration.

Key benefits of using an EOR in Belarus:

• Fast market entry: Start hiring in days instead of months.
• Simplified compliance: Local tax and labor regulations managed by experts.
• Cost savings: Avoid entity setup, registration fees, and ongoing legal costs.
• Scalability: Easily expand or downsize operations.
• Effortless payroll management: Salaries, taxes, and benefits are handled seamlessly.
• Reduced risk: Minimized legal and financial exposure.

If your business requires complete operational control, setting up a legal entity may be the better option. Here’s how the company registration process in Belarus works.

Your step-by-step guide to registering a company in Belarus

Starting a business in Belarus is a structured yet efficient process, offering equal opportunities for both local and foreign entities. Whether you’re a resident of Belarus or an international investor, the country provides a welcoming business environment with streamlined registration procedures.

Step 1: Choose your business structure

You can establish a presence in Belarus through various legal structures, including LLCs, JSCs, sole proprietorships, PUEs, and representative offices.

The options include:

• Sole proprietorship: Here, a single individual or entity owns the business. Individuals run the business under their name or trade names without forming a separate legal entity. While it’s easy to establish, this business structure offers no liability protection, meaning the owner is personally responsible for all debts.
  
  Requirements for setting up sole proprietorship in Belarus:
  • Only one individual is needed to establish this entity.
  • No formal registration is required, but the owner must register with tax authorities.
  • VAT registration is required if annual turnover exceeds 400,000 Belarusian rubles.
• Private Unitary Enterprise (PUE): A PUE is a business entity owned by one person or company. Unlike joint-stock companies, it doesn’t have shares—the founder has full control. One big advantage of this structure is limited liability, meaning the founder isn’t personally responsible for the company’s debts.
  
  Requirements for PUE:
  • Requires a legal address in Belarus. A PUE can also be registered at a residential address, offering flexibility. 
  • No minimum capital requirement, making it an easy and accessible option for entrepreneurs.
  • The founder can either be a resident or a non-resident.
• Limited Liability Company (LLC):  This structure is most popular for small to medium businesses.
  
  Requirements for LLC in Belarus:
  • You need a minimum of one founder (can be a foreign individual or entity).
  • No minimum authorized capital requirement.
  • The LLC must have a legal address in Belarus.
• Open Joint Stock Company (OJSC): Suitable for larger businesses, a JSC can issue shares and is governed by a board of directors. An OJSC lets you raise funds by issuing shares to a wide range of investors. Shares can be freely sold or transferred through an open subscription.
  
  Requirements for OJSC:
  • Minimum of two shareholders; no upper limit for the number of shareholders.
  • The minimum capital required is 400 basic units (about 16,000 Belarusian rubles or €5,000 for an OJSC.
  • The OJSC must have a legal address in Belarus.

• Closed Joint Stock Company (CJSC):  A CJSC is a business where only individuals can be shareholders, and shares can’t be sold to outsiders. If a founder wants to leave, they can only sell their shares to another founder.
  
  Requirements for a CJSC:
  • Minimum authorized capital of approximately €1,099 or 100 basic units for a CJSC.
  • The CJSC must have a legal address in Belarus.
• Representative office: Companies can establish a presence in Belarus via a representative office. This representative office will not be a separate legal entity and cannot engage in direct commercial activities, but it can conduct market research and promote the parent company’s interests.
  
  Requirements for setting up a representative office in Belarus:
  • Must be registered with the Ministry of Justice.
  • A representative office requires a legal address and documentation proving the existence of the parent company.
• Additional liability company (ODO): An ODO is a less common type of business where the company’s capital is divided into shares based on what each owner contributes. There can be up to 50 owners, who can be either individuals or other businesses. If the company goes bankrupt, the debt is shared equally among all the founders.

Each option we’ve discussed has distinct advantages, limitations, and requirements, making it essential for foreign entrepreneurs to assess their business needs and consult with local legal experts before navigating the registration process effectively.

Step 2: Register your business name

Before registering a company, you must get its name approved. As per the Belarusian government, this is a free process and can be done in person, by mail, or online via the Unified State Register (USR) of Legal Entities and Individual Entrepreneurs website.

Additional documents (e.g., authorization proof or permission to use specific names) may be required in certain cases. Online applicants receive their approval or rejection via email with a digitally signed certificate from the registration authority.

Step 3: Prepare and submit required documents

When registering your company in Belarus, you can submit documents in-person or online. Instead of registering online yourself, you can also let a notary handle the process.

For an in-person registration, you need to submit:

• A completed state registration application (available on the USR website).
• Two copies of the charter or articles of association (in .doc or .rtf format).
• Proof-of-state fee payment (unless paid via the Unified Payment System).
• If the founder is a foreign company, it must submit a legalized extract from the commercial register, issued within the last year, with a notarized Belarusian/Russian translation.
• If the founder is a foreign individual, they must provide a notarized passport copy along with a translation.

Once you have done this, the registration authority will:

• Stamp and return an approved charter on the same day.
• Issue a registration certificate by the next business day.
• Register the company with tax, social security, and statistical authorities automatically (without any founder involvement). You can collect the registration notice within five business days.

For online registration, you need to submit:

• Submit documents via the USR website or allow a notary to do so.
• The process requires an electronic signature key (issued by the National Center for Electronic Services).
• If there are multiple founders, one can be authorized to apply digitally.

For the notary-assisted registration:

If you let a notary handle the registration process, you will not need electronic signature key and the notary can process applications regardless of company location.

Once your online registration is approved, you will receive digital copies of the following:

• State registration certificate
• Charter with official stamp
• Registration confirmation with government agencies (within five business days)

If the online registration is rejected, applicants receive a notification explaining why.
Once your company name is registered, online or offline, you must obtain a tax registration.

Step 4: Obtain tax registration

Register with the Ministry of Taxes and Duties (MTC) to receive a taxpayer identification number (TIN). This step is essential for tax filing and compliance when operating a business in Belarus.

Step 5: Open a corporate bank account

Most businesses in Belarus must have a corporate bank account to handle financial transactions, including tax payments and employee salaries. Once you have selected a bank in Belarus that aligns with your business needs, you must fill out and submit an application form and all the necessary documentation.

Remember, you must translate all these documents into Belarusian or Russian. These translations, along with the original documents, should be notarized and, where applicable, apostilled to ensure their legal acceptance in Belarus.

These strict compliance procedures may make opening a bank account in Belarus challenging. But solutions like Multiplier make it easy to manage payroll without one.

With Multiplier, you can:

• Run payroll in multiple currencies.
• Stay compliant with Belarusian tax laws.
• Simplify global payroll management.

Step 6: Register for social security and employment contributions

Ensure compliance with local labor laws by registering employees with the Social Protection Fund.

If you choose to leverage Multiplier for your expansion plans, it ensures that contracts adhere to local labor laws in Belarus.

Step 7: Secure any necessary licenses

Depending on your business activities, certain industries in Belarus require specific licenses or permits to operate legally. It’s crucial to identify whether your business falls under these categories and to obtain the necessary authorizations before commencing operations.

Once you’ve completed these seven steps, your business will be legally established and operational—but what does it take to get here? The upfront fees are just one piece of the puzzle. To truly understand the financial commitment of starting a business in Belarus, let’s look at the full cost picture.

The real cost of registering a business in Belarus

Understanding the costs involved is essential for effective planning. Below is a breakdown of key expenses associated with company registration and ongoing compliance in Belarus.

1. Registration fees

Incorporating a company in Belarus has a standard registration cost of €350, covering everything from legal document preparation to company registration, fees, and taxes. The exact cost may vary depending on the type of business you’re setting up, but this fee ensures a smooth, all-inclusive process.

2. State fees

Before submitting documents for the state registration of a joint-stock company, you need to pay a state fee—1 basic amount (this is 40 Belarusian rubles or about €12). If the you submit these documents online, you do not need to pay the state fee. Additional state duties may apply for specific services like amendments to company details.

3. Share capital

The share capital will vary depending on your business structure.

• For LLCs. There is a negligible minimum share capital requirement.
• JSCs. The minimum share capital required to establish a CJSC in Belarus is around €1,099, equal to 100 basic units in Belarusian currency (4,000 Belarusian rubles).
• OJSC. The minimum share capital required to establish an OJSC in Belarus is about €4,598 (nearly €5,000) (400 basic units*, that is 16,000 Belarusian rubles)

4. Legal costs

Businesses must provide a registered address in Belarus, with costs starting at €15 a month.

5. Tax rates and obligations 

• Corporate income tax: 18%
• Value-added tax (VAT): 20% (lower rates apply in some cases)
• Special tax regimes: IT companies in the Belarus Hi-Tech Park (HTP) and certain small businesses may qualify for reduced tax rates or exemptions.

6. Notary fees 

Notary fees vary based on translation and certification needs.

Many companies who want to quickly set up in Belarus while keeping costs low choose to leverage an EOR. An EOR solution like Multiplier offers a single, predictable fee for company registration, handling payroll, taxes, and compliance. Let’s compare the costs and benefits of traditional registration versus using an EOR.

Cost comparison: standard registration vs. EOR

When evaluating your expansion costs into Belarus, it’s essential to compare the traditional in-house model against the flexibility of an EOR solution.

Cost category	Standard registration	EOR
Setup costs	$2,000–$10,000+	Low, bundled service fee
Ongoing compliance	High (legal, tax, payroll services)	Included in EOR fee
Payroll and benefits	Managed in-house	Fully managed by EOR
Scalability	Fixed structure, harder to scale	Flexible, easier to scale up or down
Risk and compliance	High legal exposure	Compliance is handled by experts, lowering risks

Ultimately, EOR offers a streamlined approach that enhances cost predictability and significantly reduces the administrative complexities of managing compliance, payroll, and benefits.

Simplify your expansion to Belarus with Multiplier

Expanding into Belarus doesn’t have to be complex. However, businesses may be concerned about navigating economic sanctions imposed by the EU and other countries since 2020. These sanctions can affect cross-border payments and contribute to currency devaluation, potentially impacting salaries. Besides this looming uncertainty, multilingual compliance requirements offer another layer of complexity your business must navigate in Belarus.

Multiplier stands out as a true all-in-one solution, handling everything from onboarding to managing international talent seamlessly while reducing the risks you incur.

Here’s how Multiplier simplifies hiring, payroll, and compliance so you can focus on business growth:

• Local hiring expertise: With Multiplier, you can onboard employees in Belarus within minutes. Our user-friendly platform lets you manage, track, and care for your overseas employees while easily across different countries and time zones.
• Effortless payroll management: You can say goodbye to tedious admin and local payroll hassles. Our intelligent, fully managed payroll system handles multi-country taxes, benefits, and compensation, so you don’t have to.
• Comprehensive HR solutions: Multiplier’s global HR platform includes a timesheet tracking tool that lets you manage your entire workforce from one dashboard. It also has an expense tracking feature to monitor the expense requests submitted by your teams.
• Compliance assurance: Our globally compliant contracts include the necessary benefits, statutory leave, termination policies, working hours, salary details, and bilingual formats. Multiplier helps reduce risks and penalties from non-compliant hiring while building your reputation as a trusted global employer.
• Attractive benefits packages: Multiplier offers country-specific healthcare insurance and benefits that are fully compliant with Belarusian corporate and tax laws.

Ready to expand into Belarus? Book a demo today!