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Belarus

The ISO code of Belarus is BY according to the ISO 3166 standard. The local name of the country is Byelarus. Belarus capital city is Minsk. People in Belarus speak the Russian, and Belarussian languages. On 27 July 1990, Belarus emerged as a sovereign political entity. In the year 07/27/1990, Belarus emerged as a sovereign political entity. The largest city in Belarus is Minsk.

Belarus is located in the UTC +03:00 time zone, which is also called Further-eastern European Time or FET. The internet country code top-level domain (ccTLD) for Belarus is .by. Other domains assigned to Belarus are .бел. The International dialing code for Belarus is 375. People in Belarus drive on the right side of the road. Total land area of Belarus is 207,600 km² (approx. 80,154 mi²). Belarus is a landlocked country.

A view in Belarus

Belarus is located in Europe. Belarus is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Belarus faces various issues, including soil pollution from pesticide use, southern part of the country contaminated with fallout from 1986 nuclear reactor accident at Chornobyl' in northern Ukraine.

Doing business in Belarus

We offer various corporate services in Belarus jurisdiction. These services can serve both, people coming from Belarus and foreigners. If you plan on doing business in Belarus you might be interested in contacting us.

To find out about starting your business in Belarus click on company formation in Belarus.

To find out how to open a bank account in Belarus and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Belarus.

Choose preferred service below or continue reading to find out more about Belarus.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Belarus

The total population of Belarus is 9,452,113 people. In Belarus, the population density is 46 people per square kilometer (120 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is diverse according to a fractionalization scale which for Belarus is 0.3222. Belarus has approximately 1082905 foreign immigrants. The median age is approximately 39.4 years. In Belarus, 46.91 in every 100 people use internet. Belarus has a Human Development Index (HDI) of 0.786.

The majority religion of Belarus is Christianity, Belarus is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Belarus.

Culture of Belarus

People in Belarus speak the Russian, and Belarussian languages. According to data on inbound tourists in Belarus, 137,000 tourists arrive in the country each year. The first McDonalds in Belarus was opened on 10 December 1996, and it was located in Minsk. One of the most popular national dishes of Belarus is draniki. To read more click on culture of Belarus.

Geography of Belarus

Belarus is considered to be a large nation because of its total area. Its total land area is 207,600 km² (approx. 80,154 mi²). Belarus is located in Europe. Its capital city is Minsk. Belarus has 5 neighbouring countries. Its neighbours include Latvia, Lithuania, Poland, Russia, and Ukraine. Total length of land borders of Belarus is 3642 kilometers (~1,406 miles).

The highest point of Belarus is Dzyarzhynskaya Hara, with its official height being 346 m (1,135 ft). Including land mass and EEZ, the total area of Belarus is approximately 207,600 km² (~80,154 mi²). The most notable natural resources found in Belarus are timber, peat deposits, oil and natural gas, granite, dolomitic limestone, marl, chalk, sand, gravel, clay.To read more click on geography of Belarus.

Economy of Belarus

The currency of the country is Belarusian ruble. The symbol used for this currency is Br, and it is abbreviated as BYN. 0.5% of population in the country are unemployed. The total number of unemployed people in Belarus is 47,261. Each year, Belarus exports around $42.06 billion and imports roughly $45.17 billion. The Gini Index of the country is 26.5. Belarus has a Human Development Index (HDI) of 0.786.The Global Peace Index (GPI) for Belarus is 2.163. Belarus has a government debt of 66.1% of the country's Gross Domestic Product (GDP), as assessed in 2012. Belarus is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are metal-cutting machine tools, tractors, trucks, earthmovers, motorcycles, televisions, synthetic fibers, fertilizer, textiles, radios, refrigerators.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Belarus is $172,755 billion. Each year, consumers spend around $27,339 million. The ratio of consumer spending to GDP in Belarus is 0%, and the ratio of consumer spending to the world consumer market is 0.0788. The corporate tax in Belarus is set at 18%. Personal income tax ranges from 12% to 17%, depending on your specific situation and income level. VAT in Belarus is 20%. In 2013, Belarus received 103.2 million USD in foreign aid.In 2014, the foreign aid amounted to 125.8 USD.To read more click on economy of Belarus.

Infrastructure of Belarus

Infrastructure quality in Belarus is rated to be at 2.55. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

In Belarus, 100% of the population has access to electricity. There are 295,217 internet hosts in Belarus. Belarus has 65 airports nationwide.

The logistics performance index of Belarus is 2.64. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 2.51. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.

The number of road motor vehicles per 1000 inhabitants in Belarus is 22. To read more click on infrastructure of Belarus.

Politics of Belarus

Belarus, is a presidential republic. With regard to political and civil freedoms, Belarus is 3. Citizens in Belarus experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Alexander Lukashenko.

According to the World Bank Group, the government effectiveness index of Belarus is -0.5. This indicates that the government of Belarus is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Belarus before considering any business maneuvers.In Belarus, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Belarus is 2.163. The strength of legal rights index for Belarus is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Belarus received 103.2 million USD in foreign aid. In 2014, the foreign aid amounted to 125.8 USD. Belarus is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Belarus is one of the original UN member states who founded the organization. Belarus is a member of the World Bank. To read more click on politics of Belarus.

Environment of Belarus

Belarus emits 6.7 metric tons per capita of CO2. 80334 km² of Belarus's territory is covered in forests. and forest land comprises 39% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Belarus is 22. To read more click on environment of Belarus.

Company formation in Belarus

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Belarus.

When establishing a company in Belarus, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Belarus that will affect the establishment and growth of one's business. Contact us or click on company formation in Belarus to read additional information when setting up a business.

Bank account opening in Belarus

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Belarus. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Belarus, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Belarus or contact us.