COREDO > Opening a Bank Account in Belarus

Opening a Bank Account in Belarus

Banking System of the Republic of Belarus

Belarus offers developed banking infrastructure and accessible solutions for foreign companies and private clients. The country’s banking sector is focused on servicing non-residents and provides modern financial services for international operations.

Since 2016, COREDO has been assisting clients with opening bank accounts in Belarus, providing full support throughout the entire process.

Get a Consultation

Cost of the service
form 700 EUR

Types of Bank Accounts

Foreign companies and non-resident individuals can open several types of accounts in Belarusian banks, depending on their needs:

A current (settlement) corporate account

is designed for day-to-day business operations — settlements with counterparties, receiving payments for goods and services, and payroll processing. Non-residents are entitled to open accounts without restrictions in both Belarusian rubles (BYN) and foreign currencies — USD, EUR, RUB. Some banks also offer accounts in CNY.

A personal bank account

is available to foreign individuals and can be opened in BYN, USD, EUR, and RUB. The account is used for everyday transactions, savings, and receiving transfers.

An account at a payment institution

is an alternative to a traditional bank account and is suitable for companies that require settlement functionality without full banking services.

Client Requirements

Opening a bank account in Belarus is regulated by the Banking Code of the Republic of Belarus, as well as Law No. 165-Z of 30 June 2014 on the prevention of legalisation of criminal proceeds and terrorist financing. In accordance with this law, banks are required to carry out identification of the client and their ultimate beneficial owners (UBO), establish the purpose and nature of the business relationship, and apply risk-based monitoring.

Key requirements for non-resident corporate clients include having a registered legal entity in the country of incorporation, providing incorporation documents with an apostille or legalisation, identifying all persons authorised to manage the account, and disclosing information about beneficial owners. Banks may also request an explanatory note regarding the purpose of opening the account, expected turnover, and principal counterparties.

For non-resident individuals, the main requirement is a valid passport and its notarised translation into Russian or Belarusian.

Account Opening Process and Timelines

The procedure for opening a bank account in Belarus with COREDO’s support involves several consecutive stages.

Client Analysis

COREDO specialists conduct a preliminary screening of the client: analysing the company structure, type of activity, jurisdiction of registration, and potential risks from the perspective of Belarusian bank compliance requirements. This enables the most suitable bank and account type to be identified in advance.

01

Preparing the documentation package

in accordance with the requirements of the selected bank, including completing application forms, preparing notarised translations and apostilles, and drafting a business description for the bank.

02

Submitting documents to the bank

and representing the client’s interests. In some cases, Belarusian banks require the personal presence of an authorised representative for document signing, although some banks allow remote account opening.

03

Account activation

and connection to remote banking services (online banking).

04

The overall account opening timeline is 1 to 3 business days from the submission of the complete document package. The preparatory stage with COREDO’s involvement typically takes 5 to 10 business days, depending on the complexity of the client’s structure.

COREDO Service Fees

COREDO offers fixed-rate tariffs for bank account opening support in Belarus. The fees are the same for all jurisdictions and do not depend on the selected Belarusian bank.

Tariff for Legal Entities

Stage	Fee
Stage 1 — Client Analysis (preliminary screening)	EUR 300 + VAT
Stage 2 — Corporate bank account	EUR 2,000 + VAT
Stage 2 — Payment institution account	EUR 1,500 + VAT
Opening deposit	EUR 1,000
Total	from EUR 1,800 to EUR 2,300 + VAT

Tariff for Individuals

Stage	Fee
Stage 1 — Client Analysis (preliminary screening)	EUR 200 + VAT
Stage 2 — Bank account	EUR 1,000 + VAT
Stage 2 — Payment institution account	EUR 500 + VAT
Opening deposit	EUR 400
Total	from EUR 700 to EUR 1,200 + VAT

The final amount depends on the type of account being opened (bank or payment institution). The opening deposit is a mandatory payment retained by the bank.

Required Documents

To open a corporate bank account in Belarus, the following document package must be prepared:

Incorporation documents of the company (articles of association, memorandum of association, or equivalent documents) with an apostille and notarised translation into Russian or Belarusian.

An extract from the commercial register or certificate of incorporation confirming the legal status of the company in the country of registration.

Documents confirming the authority of persons managing the account (board of directors resolution, power of attorney, meeting minutes).

A signature card with specimen signatures of authorised persons and the company seal imprint, completed according to the bank’s form.

Identity documents of directors and beneficial owners (passports).

Documents confirming the registered address of all participating persons.

An explanatory note on the purpose of opening the account, expected turnover, and countries of principal counterparties.

For non-resident individuals, the document list includes a valid passport, a notarised translation of the passport into Russian or Belarusian, and proof of residential address.

Advantages of Working with COREDO

Partnering with COREDO for opening a bank account in Belarus provides clients with a number of significant advantages. The company has been operating in the legal and consulting services market since 2016 and possesses a deep understanding of the requirements that Belarusian banks impose on non-residents.

COREDO provides a preliminary compliance analysis that enables the assessment of chances for successful account opening before document preparation begins. The company’s specialists assume full responsibility for document preparation, including notarised translations and apostilles, eliminating errors and delays. Representation of the client’s interests at the bank minimises the need for personal visits. COREDO’s headquarters are located in Prague, and services are provided across all 27 European Union countries, enabling the coordination of banking services with other corporate tasks — company formation, licensing, and compliance support.

Contact us

Our Experts

Experienced COREDO specialists are responsible for supporting clients in opening bank accounts in Belarus.

Pavel Kos

Head of Legal at COREDO. Has been with the company since June 2017 and has headed the legal team since July 2020. Responsible for legal support of banking operations, document preparation, and interaction with regulators.

Daniil Saprykin

Head of Customer Success at COREDO. Coordinates the client interaction process at all stages — from the initial consultation to account activation.

Frequently Asked Questions

Can a non-resident open a bank account in Belarus without being physically present?

A number of Belarusian banks allow remote account opening for non-residents; however, some banks require the personal presence of an authorised representative for document signing. COREDO clarifies the requirements of the specific bank in advance and, if necessary, represents the client’s interests under a power of attorney.

What currencies are available for a non-resident account in Belarus?

Non-residents can open accounts in Belarusian rubles (BYN), US dollars (USD), euros (EUR), and Russian rubles (RUB). Some banks also offer accounts in Chinese yuan (CNY).

How long does it take to open a bank account in Belarus?

With a complete document package, the bank opens the account within 1 to 3 business days. The preparatory stage, including document collection and processing with COREDO’s support, typically takes 5 to 10 business days.

Which regulator oversees banking activity in Belarus?

Banking supervision in the Republic of Belarus is carried out by the National Bank of the Republic of Belarus (NBRB). It is responsible for bank licensing, prudential regulation, oversight of AML/KYC requirements compliance, and ensuring the stability of the banking system.

Is an apostille required on documents for opening an account in a Belarusian bank?

Yes, documents of foreign companies submitted to Belarusian banks generally must be apostilled and translated into Russian or Belarusian with notarised certification of the translation. COREDO assumes full responsibility for document preparation, including apostilling and translation.

Submit Application

COREDO specialists are ready to assist you with opening a bank account in Belarus. Submit an application, and we will contact you for a free preliminary consultation.