$20 000. A foreign investor can create an ordinary resident company with a smaller share capital, but once the company declares itself as a joint venture company, it gets a lot of benefits, as Belarus welcomes activities of such companies. And if the founders of the company are foreigners only, then this company is considered to be a foreign company.
5.2 Accounting In accordance with the Belarusian legislation, it is required to maintain financial accountings in proper way, which, depending on the type and size of business, is necessary to determine the actual property companies and property claims and liabilities related with commercial activities. Also it is necessary to maintain financial accountings, to find out the financial results for each fiscal year. Organizations are obliged to provide accounting records for the month, quarter and year with the cumulative total since the beginning of the year, unless otherwise stipulated by the legislation of the Republic of Belarus. Herewith, monthly and quarterly financial accountings are intermediate. While preparing financial accountings there must be provided:
Transparent report of all business operations and results of inventory of assets and liabilities for the accounting period.
identity data of analytical accounting to data of synthetic accounting for the reporting period, as well as indicators of accounting data of synthetic and analytical accounting.
Violation of the terms is regarded as improper preparation of financial accounting records. Accounting records (except organizations, financed from the budget, as well as nonprofit organizations not involved in entrepreneurial activity and with the exception of the retired assets, turnover from the sale goods, works and services) consist of:
Balance sheet;
Profit and loss statement;
Statement of retained earnings;
Statement of cash flows;
Appendixes, stipulated by legal acts;
Explanatory note.
Structure of the intermediate and the consolidated financial Statements is determined by the Ministry of Finance of the Republic of Belarus, Republican bodies of Public WWW.INVESTARBY.COM
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