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Business in Belarus

  Dear sirs!

If you are going to arrive to Belarus with business visit, we will give you all complex of tourist services. Besides, we will support you in the organization of business meetings, consultations and we will offer particular service opportunities which list can be seen under the heading «Additional services».

For foreign businessmen who explore possibilities of the Belarus market and wish to arrive here for the first time - on purpose to find partners or to start the business in Belarus, we suggest to find here the information which will give you the initial idea about a business climate in our country for foreign businessmen.

WELCOME TO BELARUS!

  

A favorable investment climate of Belarus is determined by

absolute and comparative advantages:

• Advantageous economic, geographical and geopolitical location
• Macroeconomic stability
• Developed industrial, scientific/technical and export potential
• Highly qualified workforce having experience of working at modern enterprises
• The common customs area with Russia
• Developed transport infrastructure  
• Low production costs (lease, telecom, communications, electric power, infrastructure)
• Free economic zones
• Advantages for companies with foreign participation
• Protection of rights of a foreign investor
• International legal regulation of investment sphere
• Positive experience of foreign enterprises in terms of investment projects implementation
• Relations with international financial organizations
•  Stable politic and social environment
• Favorable investment climate with the developed investment legislation

A developed banking system, growing market of financial and insurance services are characteristics of the country’s economy.

Today, the Belarus economy has entered the stage of multiplicative reproduction of investment resources which is the most important prerequisite for stable and dynamic development.

According to estimates, the investment in the fixed assets is to increase 2.15-fold by 2010 compared to 2005 and its share in the GDP is to increase from 23.3% in 2005 to 30 % in 2010.

The improvement of the business climate was also fixed in the report of the World Bank "Doing Business 2009". The Republic of Belarus was ranked 85th among 181 countries in terms of doing business, having occupied the 4th place among the best countries-reformers.

Advantages for companies with foreign participation

Following benefits and preferences are provided for foreign and joint ventures:

• exemption from income tax for a period of three years. In case such organizations manufacture products of special importance for the Republic, income tax rate will be decreased by 50% for another three years;
• exemption from customs duties and value added tax in case of fixed assets export on the territory of the Republic to form statutory fund;
• licence-free export of self made products and licence-free import of products for own manufacturing;
• free management of profits gained as a result of self made products export after taxation and other compulsory payments;
• free choice of products supplier and pricing of self made products;
• maintenance of legal regime for a period of 5 years since the date of registration of an enterprise with foreign investments regardless of alterations to the legislation of the Republic of Belarus.