Doing business

Belarus

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Setting up a company | FDI in figures | Why you should choose to invest | Procedures relative to foreign investment | Finding assistance for further information

Setting up a company

Types of companies and capital (max/min)	Number of partners/shareholders and liability
Joint Venture USD 20,000	2 companies (a foreign and a Byelorussian company) Depends on the status of the joint venture
100% foreign capital Company USD 20,000	No minimum. Liability is limited to the amount contributed.

Business setup procedures

Setting up a company	Belarus	Eastern Europe & Central Asia
Procedures (number)	5.0	6.3
Time (days)	5.0	16.3

Source: Doing Business.

For further information: Consult Doing Business Website, to know about procedures to start a Business in Belarus.
Trade Register
The competent organization: Ministry of Finance and The National Investment Agency

FDI in figures

Foreign Direct Investment	2008	2009	2010
FDI inward flow (millions USD)	2,158	1,886	1,350
FDI stock (millions USD)	6,627.2	8,536.7	9,940.4
Performance Index*, ranking on 141 economies	75	48	-
Potential Index**, ranking on 141 economies	49	-	-
Number of Greenfield investments***	28	25	-
FDI inwards (in % of GFCF****)	10.7	6.0	-
FDI stock (in % of GDP)	10.9	17.2	-

Source:

Note: * The UNCTAD Inward FDI Performance index is based on a ratio of the country's share in global FDI inflows and its share in global GDP. ** The UNCTAD Inward FDI Potential index is based on 12 economic and structural variables such as GDP, foreign trade, FDI, infrastructures, energy use, R&D, education, country risk. *** Green field investments are a form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. **** Gross fixed capital formation (GFCF) measures the value of additions to fixed assets purchased by business, government and households less disposals of fixed assets sold off or scrapped.

Why you should choose to invest Belarus

Strong points: Belarus' main strong points are:
- An advantageous geographical position, the country being a point of entry into Europe and into the CIS countries;
- A number of measure favorable to direct foreign investments;
- Political and economic stability;
- A Qualified and cheap labour force.
Weak points: The country's weak points are still many. We can particularly name:
- A high level of corruption;
- The slowness of administrative procedures;
- Low quality infrastructures.
Government measures to motivate or restrict FDI: For a number of years, the government has been seeking to enhance the country's appeal at a global level. It has therefore implemented a number of measures to ensure investor protection, has created six duty-free zones in the country and set up Investment Advisory Offices as well as the National Investment Agency.

Procedures relative to foreign investment

Freedom of establishment: The country is open to direct foreign investment but a number of sectors are still managed by the State, such as the energy distribution sector. For more information go to the National Investment Agency website.
Acquisition of holdings: A majority holding interest in the capital of a local company is legal in Belarus. For more information go to the National Investment Agency website.
Obligation to declare: The World Association of Investment Promotion Agencies in the country provides information about authorisations necessary for establishment of businesses.
Competent organization for the declaration: National Investment Agency website
Requests for specific authorizations: In this country, where admistration rules all, many sectors require a specific authorisation. For more information, go to the website of the National Investment Agency.

Finding assistance for further information

Investment aid agency: Investment Opportunities of the Republic of Belarus
Other useful resources: National Investment Agency