| LLC | Free Zone Company | JSC | Rep. Office | Branch | |
|---|---|---|---|---|---|
| Local Name | OOO | свободная зона | OAO | представительство | филиал |
| Company Setup Time | 15 days | 15 days | 15 days | 15 days | 15 days |
| Bank Account Opening | 10 days | 10 days | 10 days | 10 days | 10 days |
| Government Grants Available | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | Yes | Yes | Yes | No | No |
| Limited Liability | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Belarus Limited Liability Company (OOO/PUE)
- Limited liability companies require one individual director and one shareholder, both of which can be of any nationality or country. Additionally € 1 is required as share capital.
- A Belarus limited liability company formed by a single shareholder is called a private unitary company or PUE, whereas LLCs with more than one owner are known as OOOs.
- The legal documents must be translated into Russian / Belarusian and later on, these documents must be made legalized through a Belarus notary. LLCs are required to submit annual financial statements.
Belarus Joint Stock Company (ZAO)
- At least 2 shareholders are required by law to form a Belarus Joint Stock Company (JSC). They may be from any part of the globe and they don’t need to be a Belarusian resident. In the case of a closed joint stock company (ZAO), it is required to deposit 21 million Belarusian rubles (€ 900) in share capital. For an open joint stock company, the requirement is 84 million Belarusian rubles (€ 3,600). Two directors and at least one auditor must be appointed.
- A joint stock company is considered to be closed if other shareholders require prior permission to distribute shares. Closed joint stock companies can have up to 50 shareholders
The Belarus Representative Office (RO)
- In Belarus, foreign companies are permitted to set up representative offices. These offices are not allowed to directly carry out commercial activities.
- These entities are permitted to conduct market researches and promote the business of its parent company. These entities are allowed to conduct market research and promote the parent company.