Conducting business with companies from offshore zones provides
for additional obligations for Belarusian counterparties and
requires certain control.
The list of such zones was approved by the Edict of the
President of Belarus No. 353 of 25.05.2006.
For example, the British Virgin Islands, Montserrat, the
Republic of Maldives, the Principality of Andorra, the Principality
of Liechtenstein, the Republic of Montenegro and others are
recognized as offshore companies. However, for example, Cyprus and
the Netherlands are not recognized as thereof.
The full list of offshore zones can be found at the link:
https://pravo.by/document/?guid=3871&p0=P30600353.
The offshore duty rate is 15% of the amount that is transferred
to a non-resident (monetary obligation) or of the contract price
(non-monetary obligation).
