Companies operating in the territory of the Republic of Belarus are required to have an open checking account with the Bank of Belarus. You can issue a checking account either on your own or by contacting specialized companies offering a service to support the opening of a bank account.

Why do I need a bank account for a foreign company? 

A foreign bank account is essential for a company operating internationally. It facilitates smoother transactions across borders, allowing easier payment processing and currency conversion. Additionally, having a foreign bank account enhances the company’s credibility, providing a more professional image to clients and partners. It also helps in managing operational expenses and securing investments in multiple currencies. Furthermore, it can provide legal advantages, such as optimizing tax obligations and ensuring compliance with international financial regulations.

Opening a current account for a foreign company in Belarus is a mandatory step to conduct business operations. Regardless of the company’s legal structure, an account in a Belarusian bank is required. The company’s director or an authorized representative must gather, translate, and notarize all necessary documents. Once prepared, they can submit an application to the bank to open a current (settlement) account. This account is essential for managing day-to-day financial transactions such as payments, receipts, and business-related transfers.

Account for representative offices and branches

The process for opening a current account in Belarus for branches and representative offices mirrors that for non-resident legal entities. In addition to the standard required documents, the bank must receive a copy of the representative office’s regulations and the Ministry of Foreign Affairs’ authorization for opening the representative office in Belarus. Both of these documents must be notarized to ensure their authenticity. This ensures the branch or representative office is recognized and can legally conduct business transactions in Belarus under the country’s regulations.

Required documents for non-residents of the Republic of Belarus

• Application for opening an account: The application must be filled out directly at the bank, detailing the type of account to be opened.
• Copies of constituent documents: These include the company’s charter, memorandum of association, or other documentation proving its legal status under the laws of the country of incorporation.
• Copies of registration documents: Submit extracts from the commercial register, the certificate of incorporation, or other proof of legal entity registration in the country of incorporation.
• Application for account opening: This must be signed by an authorized representative of the company, specifying the type of account.
• Documents confirming authority to manage the account: These include protocols, decisions, orders, or contracts confirming that specific individuals are authorized to manage the account.
• Specimen signature card: A card with the signatures of authorized account managers, along with the account holder’s stamp, must be prepared at the bank.
• Identity document: The person applying on behalf of the legal entity must provide an identity document.
• Document translation and legalization: All foreign-language documents must be translated into Russian or Belarusian, notarized, and legalized according to Belarusian law.