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To open a company to work with ICO in Belarus

The Forex market began to develop dynamically in Belarus since 2017, when directives were signed, that regulate the market for Bitcoin and cryptocurrency tokens, and mining in the Republic of Belarus. Therefore, the work of entrepreneurs, who want to register a company to work with ICO in Belarus, will be regulated by the law “About the development of the digital economy”. This bill entered into force on March 28, 2018. Now the legislation allows you to manage tokens and cryptocurrencies, engage in further manning, storage, purchase, exchange or sale of them in Belarus.

If you plan to open a company to work with ICO in Belarus, you can:
  • activities of the cryptocurrency exchange and cryptocurrency exchange operator;
  • the platform activity for ICO;
  • a mining;
  • other activities, using tokens.

Obtaining a license for cryptocurrency activities in Belarus is not necessary for entrepreneurs, who wish to register a cryptocurrency exchange in Belarus. The income tax for entrepreneurs, who plan to open a company in Belarus for cryptocurrency activities, is paid in the amount of 9%, without adhering to the standard rate of 13%. The process of reviewing documentation by the registration authorities in Belarus takes 10 days.

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To set up a Belarusian company to work with Bitcoin, you need:
  • to register a resident company in the Republic of Belarus;
  • to provide a business plan;
  • to ensure the availability of funds in accounts with banks of the Republic of Belarus in the amount of not less than 1,000,000 BYN (approximately 500,000 USD) - for the activities of the crypto platform operator, and not less than 200,000 BYN (approximately 100,000 USD) - for the activities of the cryptocurrency exchange operator.

The mandatory requirement is a presence of a registered local office. Belarusian offshore companies must also keep accounting reports. We will also provide you with full support for the registration of a company in the Republic of Belarus. To open a company in Belarus you need to provide following documents:

  • an application for opening a company;
  • a copy of the registration document of the parent company in the country of origin;
  • the power of attorney for the head of the representative office;
  • the power of attorney for a person authorized to conduct business on opening a representative office;
  • a document, that confirms the payment of state duty.

The documentation must be submitted in Russian or Belarusian, as well as notarized. That is, in order to be able to provide your services on the territory of the Republic of Belarus, like a cryptocurrency exchange, you must first register a company in Belarus. Further, qualified lawyers make adjustments to the business plan for the Belarusian company. Our services also include legal assistance, when entering the High Technology Park - a Belarusian organization, that deals with the regulation of cryptocurrency exchanges in Belarus.

Competent lawyers of IQ Decision will tell you how to legalize the work of cryptocurrency in Belarus, as well as tell you how to register a company in Belarus for cryptocurrency activities.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

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