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Belarus
Financial Sector Enabling Environment in
Belarus
Belarus
Ease of doing business (rank)
58
Starting a business (rank)
9
Starting a business - Cost (% of income per capita)
2.3
Starting a business - Procedures (number)
5
Starting a business - Time (days)
5
Starting a business - Minimum capital (% of income per capita)
0
Dealing with construction permits (rank)
30
Dealing with construction permits - Cost (% of income per capita)
24.8
Dealing with construction permits - Procedures (number)
12
Dealing with construction permits - Time (days)
130
Registering property (rank)
3
Cost (% of property value)
0
Procedures (number)
2
Time (days)
10
Protecting Investors (rank)
82
Getting credit (rank)
104
Trading across borders (rank)
151
Enforcing contracts (rank)
13
Enforcing Contracts - Cost (as % of claim)
23.4
Enforcing Contracts - Procedures (number)
29
Enforcing Contracts - Time (days)
275
Resolving insolvency (rank)
56
Source: World Bank Doing Business 2013 (RANK: Best=1; Worst=185)
Starting a business
Belarus made starting a business more difficult by increasing the cost of business registration and the cost to obtain a company seal.
Paying taxes
Belarus made paying taxes easier and less costly for companies by reducing the profit tax rate and encouraging the use of electronic filing and payment systems.
Resolving insolvency
Belarus enhanced its insolvency process by exempting the previously state-owned property of a privatized company from the bankruptcy proceeding, requiring that immovable property not sold in the auction be offered to creditors for purchase and allowing immovable property to be sold without proof of state registration in a bankruptcy auction if there are no funds to pay for the registration.
Conclusion
Despite relatively good scores, Belarus is still not viewed as an attractive place for private investment either domestic or foreign. The country’s comparative advantage in the number of procedures and time required to enforce contracts is more than outweighed by its overall standing in all other categories.
The most problematic factors for doing business in Belarus:
Corruption
Inflation
Tax regulations
Access to financing
Policy instability
Inefficient government bureaucracy
Detailed PFS Belarus High Level Financial Sector Overview Oct 2012 can be downloaded
here
.
Detailed PFS Regional Benchmarking Report Oct 2012 can be downloaded
here
.
IFTF Members from
Belarus
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