Cryptocurrency Company In Belarus

The declaration "On the Development of the Digital Economy" was signed in Belarus on December 22, 2017.

Belarus has turn out to be one of the few countries where rule proved positive for the additional expansion of the cryptocurrency market.

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With partners, foreign companies will be able to work who are inhabitants of the High Technology Park. At the same time, real attendance in the territory of jurisdiction is not essential.

Residents of the Hi-Tech park receive the following rights:

  • to make consulting services in carry out ICO, with marketing support;
  • to start cryptographic exchanges and exchangers;
  • to connect in the mining of cryptocurrencies;
  • to structure investment funds;
  • to start and run own ICO.

There is a vital condition for doing business for crypto-exchanges and exchangers within the frame of the current legislation. They ought to have corporate accounts with the following funds in banks of Belarus:

for crypto-exchanges - 1 million BYN ($ 500 thousand and more);

for cryptocurrency exchangers - 200 thousand BYN (over $ 100 thousand) and more.

Note: Figures may change as per the latest update

The major provisions of the Decree

  • Normal persons can buy/sell, mine tokens for fiat currencies, whereas their actions will not be associated to entrepreneurial.
  • Legal entities require a partner for accomplishing ICO who would be a occupant of the HTP. The company does not require to be situated in Belarus.
  • Trading operations among tokens are not considered to taxation.
  • Token is the corresponding of a property right in situations of its storage, exchange or sale. The transfer of those rights is acknowledged after the transaction is replicated in the blockchain.
  • Transactions among tokens will not be taxed until 2023, consisiting VAT and income taxes on exchange.
  • Residents of the HTP are allowed to utilize smart contracts.
major provisions of the Decree

Company registration process of a Belarus cryptocurrency business

Forming a cryptocurrency company in Belarus is not dissimilar in any way from forming businesses in other businesses and needs selecting a formation and registering it with the Trade Register. Further, other than not obligatory needs are the formation of a new digital token and the formation of a website through which the cryptocurrency will be sold.

As discussed above, Belarus recognizes the construction and sale of new but also famous digital money, like Bitcoin and Ethereum. The following transactions connected to cryptocurrencies are legal in Belarus:

  • purchases
  • sales
  • exchanges
  • donations
  • mining

These are too the sorts of cryptocurrency companies which can be recognized in Belarus. Foreign enterprisers can depend on our local consultants for guidance in the formation of the company in Belarus.

Company registration process of a Belarus cryptocurrency business

Why open a cryptocurrency company in Belarus?

Forming a cryptocurrency business in Belarus also has additional benefits further being legal. One of them is the information that cryptocurrencies are comparatively new in this country and therefore the chances of success are elevated. One of the major causes for Belarus to legalize cryptocurrencies is for be a focus for foreign investments, consequently there are no other limitations in this industry.

Also Belarus issued a five-year economic development plan which offers tax-free operations connected to cryptocurrencies.

For further information on the formation and legal details as well as the latest updates, it is advisable to contact the local consultant, who will be able to guide you and assist you in a better way.

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