How to start a business in the EAEC countries

How to start a business in the EAEC countries

Recently, a handbook ”How to start a business in the Eurasian Economic Union - 2017" was presented at the site of the Republican Confederation of Entrepreneurship of Belarus. The project was initiated by the Center for the Study of Integration Prospects (Russia) with the support of the Republican Confederation of Entrepreneurship (Republic of Belarus). The co-authors of the reference book became the news agency Business News (Republic of Belarus) and the public organization ‘Zargatsum’ (Republic of Armenia).

"Today, a unique product is presented - no such handbook has ever been created in the space of the Eurasian Economic Union, and its relevance is obvious. It is only when we compare things that we can appraise them. The attendees are certainly aware of the opportunities for opening a business in Belarus or Russia, but the handbook provides a summary of all the EAEC countries,’’ the chairman of the Supreme Coordinating Council of the Republican Confederation of Entrepreneurship of Belarus, Vladimir Karyagin, said, opening the presentation.

At the presentation, the authors of the handbook noted that it was prepared as a tool for businessmen who plan to open their enterprises in the countries of the Eurasian Economic Union (EAEC). The document collected and systematized information that must be accounted, when making initial decisions on starting a business in Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

The handbook gives special attention to the systematization of the tax benefits within the framework of the EAEC, the description of the procedure for opening limited liability companies, the registration of an individual entrepreneur and joint ventures within the framework of the Eurasian Union. The document also presents the characteristics of the institutions supporting business.

‘’Undoubtedly, when creating such handbooks, there is always a question - where should we stop? We understood that it is impossible to grasp the immensity, and focused on the most pressing and confusing issues for a person, who is considering to start a business in the EAEC countries. A goal of our Center is to prepare the applied information and analytical products relating to the integration processes in the Eurasian space, " a director of the Center for the Study of Integration Prospects, Sergei Rekeda said.

The director of the Association for the Protection of Copyright in the Information Technologies, Dmitry Ananyev, the director of the Well Systems LLC, Narek Gasparyan, the first vice-chairman of the Minsk Capital Union of Entrepreneurs and Employers Association, Anatoly Gromadchenko, the head of the Innovation Projects Department of the Association for the Protection of Intellectual Property ‘BelBrand’ , Valentina Dynich, the director of the Euro-Asia Expo, Alexander Nikolsky and others took part in the discussion. The representatives of the business community supported the development of the project in a direction of creating an interactive online site based on the information gathered in the presented handbook. In addition,  a need to organize a series of the expert interviews with the business representatives of the EAEC countries to summarize and analyze the problems and needs, experienced by the entrepreneurs in the framework of the Eurasian integration, was expressed.

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