The cost of living in Belarus is very affordable, with a Cost of Living Index of 32.1 (NYC=100). Groceries (33.0) and restaurant prices (35.2) are also notably low.

The property price to income ratio is moderate at 9.96 years. The rental market is very affordable, indicated by a Rent Index of 9.8 (NYC=100).

Purchasing power in Belarus is below average, with a Purchasing Power Index of 69.0 (NYC=100).

Belarus has a progressive personal income tax system with a base rate of 13% for most, increasing to 25% for annual incomes exceeding BYN 350,000 (from 2025/2026) and 30% for ultra-high incomes. The standard VAT rate is 20%, with a reduced rate of 10% for essential goods. Property tax is approximately 0.1% of the property's value, with increasing coefficients for large houses and apartments from 2026. Corporate income tax is generally 20%, rising to 25% for taxable income over BYN 25 million. Special tax regimes exist, including a reduced 9% CIT for High-Tech Park residents.

Belarus's business environment faces significant challenges, ranking 84th globally in the 2025 Global Startup Ecosystem Index. The 2026 Index of Economic Freedom classifies its economy as 'repressed,' citing poor property rights and widespread corruption. Political instability, sanctions, and an exodus of talent have led to a significant decline in the startup ecosystem, with many promising startups relocating abroad. While investment laws were amended in January 2024 to support projects, restrictions exist for foreign ownership in certain sectors and countermeasures are in place against investors from 'unfriendly' states.

Belarus operates a universal, state-funded healthcare system, providing free services at the point of care, with high availability of medical staff and facilities. However, patients typically pay for outpatient medicines and dental prosthetics. The pension system is a pay-as-you-go model, facing sustainability challenges due to an aging population, despite a retirement age of 63 for men and 58 for women. Employees contribute 1% and employers 34% to the Social Protection Fund. Paid sick leave is provided, but comprehensive unemployment benefits for expats are not explicitly detailed in available information.

Deposits for individuals in Belarus are protected by the state-backed Agency for Guaranteed Reimbursement of Bank Deposits of Individuals (ADC) with 100% reimbursement and no monetary limit. For individual entrepreneurs, the compensation is capped at 100,000 BYN (approximately USD 35,000) per bank. The National Bank reported a reliable and efficient banking sector as of January 2026, though external assessments note underlying risks due to sanctions and political conditions. Belarus is largely compliant with FATF anti-money laundering recommendations. Consumer protection issues, such as refusal of old dollar bills, have been noted.