SCIENCE & EDUCATION
Doing Business in Belarus
Belarus provides extensive business opportunities that remain largely unexplored. Foreign investors are granted privileges, including customs and tax exemptions and benefits, as well as export and import privileges.
According to the Belarusian National Statistics Committee, foreign investments in real economy of Belarus in 2015 equal more than US$ 11.3 billion. As of January 1, 2016, 6,787 enterprises with foreign capital are registered in Belarus. Today, more than 100 countries including Russia, Great Britain, Cyprus, the Netherlands, Austria, Germany, China, and the USA are investing in Belarus.
In Belarus, the investors are guaranteed protection of rights and legitimate interests. The country created an effective legal framework that regulates foreign investment in Belarus. Foreign investment protection and non-interference with private matters of investors are ensured by the Constitution of the Republic of Belarus and the Belarus’ Investment Code (2013).
Belarus has signed five basic intergovernmental documents regarding investments, about 60 international agreements on assistance in investment implementation and protection, and more than 60 international agreements on double taxation avoidance. The Belarusian Government has signed and ratified all the necessary documents to join the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group. In 2012, Belarus has become a full-fledged member of MIGA.
A system of incentives, privileges, and preferences for investment activities is created in Belarus and is applied to the investors in free economic zones, small and medium-sized cities and rural areas, the High-Tech Park, and Chinese-Belarusian industrial park.
According to its 2016 Doing Business report , the World Bank rated Belarus as # 44 on its Ease of Doing Business Scale. Since the previous report, Belarus has made a progress in the Starting a Business, Registering Property, and Labor Market Regulation categories.
Leading multinational corporations set up their affiliates or joint ventures in Belarus, including Alcatel SEL, Bosch, 3M, Deloitte & Touche, Capgemini, Coca–Cola, Ericsson, Frezenius, Heineken, Karl Zeiss, MAN, MacDonald's, Maersk Medical, Marks & Spencer, SB Telecom, and Stadler.
The cost of living in Belarus is low even if compared with Russia. There are numerous powerful enterprises and plenty of professionals who are willing to do serious business with other countries. Minsk is a safe and comfortable place to live in. However, our biggest asset and most notable advantage are the people — friendly, caring, hardworking, and educated.