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Belarusian ruble (BYN)





UTC + 03:00

Belarus has a highly centralized economy and it ranks relatively well in areas including life expectancy, quality of education, and GDP per capita. Belarus experienced impressive economic growth during 2003–13 and an increase in household income among the bottom 40% of the population. However, economic growth has slowed down in recent years due to the exhaustion of the capacity of capital accumulation to drive economic growth, the decline of the energy subsidies, as well as the rise in public debt. The country is currently transitioning towards less economic dependence on oil processing and an expansion in unemployment support.

How to build a team in Belarus

Employers need to follow the strict employment guidelines set forth by the local authorities before they could employ in Belarus. This process can be time-consuming as the company first needs a legal entity in the country and it needs to manage payroll, tax, benefits and compliance.

Global payroll solutions make it easy to find and hire top talent in Belarus. With one seamless integration and local legal entity, we take care of the compliance matters so that you can start your globelizing plan immediately.

Compliance risk

Risk of misclassification

Belarus’s worker classification labour and tax laws distinguish between contractors and full timers. If the individual meets the legal definition of an employee but is classified as a contractor, your company will face penalties.

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