Regulation of these transactions is carried out in accordance with the following regulatory legal acts:

  • Law of the Republic of Belarus "On Currency Regulation and Currency Control" No. 226-З of July 22, 2003;
  • Decree of the President of the Republic of Belarus No. 178 of March 27, 2008 "On the Procedure for Conducting and Monitoring Foreign Trade Operations".
  • Decree of the President of the Republic of Belarus No. 452 of July 17, 2006 "On Mandatory Sale of Foreign Currency";
  • Decree of the President of the Republic of Belarus No. 252 of April 18, 2006 "On Approval of the Provision on External State Loans (Credits)";
  • Resolution of the Council of Ministers of the Republic of Belarus and the National Bank of the Republic of Belarus No. 240/5 of February 25, 2011 "On the Calculation of Imports of Certain Goods";
  • Resolution of the Council of Ministers of the Republic of Belarus No. 893 of July 17, 2006 "On Measures to Implement Decree of the President of the Republic of Belarus No. 252 of April 18, 2006 and Repeal of Certain Decrees of the Council of Ministers of the Republic of Belarus";
  • Resolution of the Board of the National Bank of the Republic of Belarus No. 72 of April 30, 2004 "On Approval of the Rules for Conducting Currency Transactions and Amending the Rules for Opening Accounts for Clients in the Republic of Belarus by Banks";
  • Resolution of the Board of the National Bank of the Republic of Belarus No. 226 of December 30, 2003 "On Approval of the Instruction on the Procedure for Provision (Placement) by Banks of Monetary Funds in the Form of a Loan and Their Return";
  • Resolution of the Board of the National Bank of the Republic of Belarus No. 112 of July 28, 2005 (Edited on April 21, 2006) "On Approval of the Instruction on the Procedure for Performing Currency Exchange Operations with the Participation of Legal Entities and Individual Entrepreneurs";
  • Resolution of the Board of the National Bank of the Republic of Belarus No. 129 of September 13, 2006 "On the Procedure for the Mandatory Sale of Foreign Currency in the Domestic Foreign Exchange Market";
  • Resolution of the Board of the National Bank of the Republic of Belarus and the State Customs Committee of the Republic of Belarus of No. 73/38 of April 30, 2004 "On approval of the Instruction on the procedure for import, export and transfer of foreign currency, Belarusian rubles, payment documents in foreign currency, documentary securities in Belarusian rubles and foreign currency by individuals through the customs border of the Republic of Belarus ";

Types of currencies in the calculations:

Transactions between residents and non-residents using Belarusian rubles

When conducting foreign exchange operations between a resident of a currency transaction and a non-resident currency transaction, the use of Belarusian rubles is allowed:

  • in non-cash order - for all currency transactions;
  • in cash - in accordance with the legislation of the Republic of Belarus.

Transactions between residents and non-residents using foreign currency

Unless otherwise provided by international treaties of the Republic of Belarus, monetary obligations on currency transactions between a resident and a non-resident can be expressed and executed in foreign currency, the official exchange rate of the Belarusian ruble to which is established by the National Bank.

Operations of non-resident legal entities in Belarusian rubles

Non-residents have the right to open accounts in authorized banks of the Republic of Belarus in both foreign currency and Belarusian rubles. A non-resident currency transaction entity (except for a non-resident bank) opens in a bank in Belarusian rubles:

  • current (settlement) account of type "T";
  • account of type "C";
  • deposit account;
  • other accounts established by the legislation of the Republic of Belarus

The current (settlement) account of type "T" is opened by the subject of currency transactions-non-resident only to the name of his representative office (branch).

Operations on the current (settlement) account of type "T" are carried out by the subject of currency transactions-non-resident without restrictions on the types of operations (including currency exchange transactions related to the purchase and sale of foreign currency in the order established by the National Bank).

Operations on the current (settlement) account of type "T" the subject of currency transactions - a non-resident - performs in a non-cash transaction, with the exception of making (withdrawing) cash Belarusian rubles in the cases and in the order established by the legislation of the Republic of Belarus.

From accounts of type "C", subjects of currency transactions - non-residents - invest Belarusian rubles into securities issued by subjects of foreign exchange operations - residents.

To the account of type "С" of the subject of foreign exchange operations – non-resident, Belarusian rubles can be credited:

  • for currency exchange operations in the domestic foreign exchange market;

as a result of redemption (sale) of securities;

  • in the form of income from securities;
  • from the account of type "C" of the same subject of currency transactions - non-resident;
  • as interest paid by the bank for the use of temporarily idle funds held in the account of type "C";
  • in other cases, subject to the permission of the National Bank.

Belarusian rubles from the account of type "C" of the subject of foreign currency transactions - non-resident can be used:

  • for purchase of securities;
  • for payment of expenses related to the conclusion and (or) execution of transactions with securities, including payment of remuneration to a professional participant in the securities market, as well as for payment of remuneration for services to the bank and for reimbursement of its expenses at the charge of this account;
  • for the payment of depository services;
  • for transfer to the account of the same subject of currency transactions - non-resident;
  • for payment of taxes (fees, other mandatory payments) related to the acquisition, disposal of securities, as well as income from them;
  • for performing foreign exchange operations in the domestic foreign exchange market;
  • in other cases, subject to the permission of the National Bank.

Depositing (withdrawing) cash Belarusian rubles into the account (from the account) of type "C" of the subject of currency transactions - non-resident is prohibited.

11.1. Types of currency transactions

Current foreign exchange operations:

Current foreign exchange operations include foreign exchange transactions conducted between residents and non-residents and providing for:

  • settlement of transactions providing for the export and (or) import of goods (excluding cash, securities and real estate), protected information, exclusive rights to the results of intellectual activity, works, services;
  • making settlements for transactions that provide for the transfer and (or) the acquisition of property for lease (leasing);
  • transfer and receipt of dividends and other income from investments;
  • non-trading transactions.

Current currency transactions are carried out between residents and non-residents without restrictions, and for their carrying out no permissions of the National Bank of the Republic of Belarus are required, with the exception of currency transactions providing for the transfer by a subject of currency transactions - resident (including those in the form of donations) conducted on the basis of a permit of the National Bank of the Republic of Belarus.

Transactions related to the movement of capital:

Currency transactions associated with the movement of capital are recognized currency transactions that are conducted between residents and non-residents and are not attributable to the current. Subjects of currency transactions (except banks) carry out currency transactions related to the movement of capital:

  • on the basis of the permits of the National Bank of the Republic of Belarus;
  • without permits of the National Bank of the Republic of Belarus;
  • in the notification procedure.

Transactions related to the movement of capital that are conducted on the basis of permits of the National Bank of the Republic of Belarus:

Subjects of currency transactions - residents (except banks) carry out currency transactions on the basis of the National Bank's permission to conduct currency transactions related to the movement of capital, providing for:

1) acquisition of shares when they are distributed among the founders  as well as their share in the statutory fund or a share in the non-resident's property;

2) acquisition of securities issued by non-residents from non-residents, except for the acquisition of shares when they are distributed among the founders;

3) acquisition of property in the ownership of property located outside the Republic of Belarus and attributed to immovable property under the legislation of the Republic of Belarus;

4) placement of funds in non-resident banks or transfer of funds to non-residents (except for non-resident banks) under conditions of trust management;

5) provision of loans;

6) settlements on liabilities that a resident of a foreign currency transaction entity (other than a bank) has as a guarantor, a guarantor, to a non-resident on the basis of a contract of guarantee or guarantee concluded between them;

7) receipt of credits and (or) loans with at least one of the following conditions:

  • the interest rate for the use of the credit and (or) the loan exceeds the following levels: for transactions in US dollars, euros - 14 percent per annum; when carrying out operations in other foreign currencies, Belarusian rubles - the refinancing rate of the relevant central (national) bank, which is valid by the date of receipt of the credit and (or) loan by the subject of the foreign exchange transaction by the resident, increased by 5 percentage points;
  • the interest rate for the use of the credit and (or) a loan in the event of a delay in the repayment of the credit and (or) a loan (in the amount of an increase in the interest due to the delay in the repayment of the credit and (or) a loan) and the amount of the penalty (fine, penalties) 0.01 percent for each day of delay (3.65 percent per annum). To calculate this level in the event that in the contract the amount of the penalty (fine) is expressed in a fixed amount, it is converted into a percentage expression;

 

  • In addition to the interest rate for the use of the credit and (or) a loan, the contract between the subject of foreign currency operations - resident (except for the bank) and the non-resident (other than the bank) establishes the obligation to make other additional payments (except for payments for the use of the credit and (or) a loan in case of delay in repayment of a credit and (or) a loan (in the amount of an increase in the amount of interest due to delay in the repayment of a credit and (or) a loan), as well as payments for payment of a penalty (fine);
  • the amount of the credit and (or) the loan goes to pay the resident's liabilities (the credit recipient, the borrower), bypassing his bank account;
  • the performance of obligations for the repayment of a credit and (or) a loan is not made from the account of the credit recipient, the borrower;
  • the creditor or loan lender is registered in the state (on the territory) where the preferential tax regime operates and (or) does not provide for the disclosure and provision of information on financial transactions (offshore zones);

8) settlements on liabilities that a resident of a foreign currency entity (except a bank) has had with a non-resident on the basis of a contract of transfer of a debt or assignment of a claim concluded between them.

Operations involving the movement of capital that are conducted without permits of the National Bank of the Republic of Belarus:

Subjects of currency transactions - residents (except banks) carry out the following foreign exchange transactions without the permission of the National Bank to conduct currency transactions related to the movement of capital:

  • making payments to non-residents for obligations providing for the transfer of property to the resident located in the territory of the Republic of Belarus and attributed to immovable property under the legislation of the Republic of Belarus or rights to it;
  • sale to a non-resident of a share in the statutory fund or a share in the property of a resident;
  • transactions with securities issued by residents;
  • formation of the statutory fund of a legal entity - a resident due to the deposits of non-residents in foreign currency, Belarusian rubles or in securities in foreign currency, in securities in Belarusian rubles in the order established by the legislation of the Republic of Belarus;

formation of the statutory fund of a legal entity - a resident due to the deposits of non-residents in foreign currency, Belarusian rubles or in securities in foreign currency, in securities in Belarusian rubles in the order established by the legislation of the Republic of Belarus;

  • attraction of funds to cover the deficit of the republican budget and return of these funds in accordance with the law on the republican budget for the next financial year;
  • attraction of funds under the guarantee of the Government of the Republic of Belarus and return of these funds;
  • attraction of funds within the framework of intergovernmental agreements and return of these funds;
  • making other payments for the repayment and servicing of the external public debt of the Republic of Belarus.
  • carrying out operations for which the National Bank has established a notification and (or) registration procedure for their conduct;
  • transfer of funds related to the acquisition of competition (tender) documents and participation in bidding (competitions, tenders, auctions);
  • obtaining of credits and (or) loans by banks and non-bank credit and financial institutions.

All other currency transactions related to the movement of capital, residents of currency transactions - residents conduct in a notification procedure.

11.2. Sources of foreign currency funds of resident legal entities

1. Foreign currency earnings

Legal entities and individual entrepreneurs must carry out mandatory sales of foreign currency in the domestic foreign exchange market of the Republic of Belarus in the amount of 30% of the proceeds in foreign currency in the order determined by the National Bank.

Mandatory sale of foreign currency is not carried out:

  • by banks and non-bank credit and financial organizations, insurance organizations, residents of the free economic zones of the Republic of Belarus;
  • on revenue in foreign currency coming to telecommunication and postal services organizations and sent by them within 30 days from the date of receipt to the account for payment of bills for international communication services;
  • on revenue in foreign currency coming to legal entities and individual entrepreneurs who have special permits (licenses) for carrying out the transportation of passengers and goods by road, inland waterway, sea transport, aviation activities, transport and forwarding activities, and sent by them within 30 days from the date of receipt to the account for payment of transportation, insurance and forwarding costs of passengers and cargo, as well as to pay taxes and fees in foreign currency associated with transportation of passengers and cargo;
  • on proceeds in foreign currency subject to transfer and transferred within 30 days from the date of receipt to the account under contracts of commission or commission with non-residents in the course of the implementation by legal entities and individual entrepreneurs of intermediary activities directly related to transactions for which revenue is received in a foreign currency;
  • on proceeds in foreign currency transferred to a special account within 7 working days from the date of its receipt to the account in order to accumulate funds for sending them to repay debts in foreign currency by:
  • credits granted by the decision of the President of the Republic of Belarus, the Government of the Republic of Belarus or under the guarantee of the Government of the Republic of Belarus;
  • credts provided by non-residents or banks of the Republic of Belarus and used to purchase leased assets or property attributed to fixed assets;
  • leasing;
  • revenue in foreign currency transferred within 7 working days from the date of receipt to the account:
  • a bank or non-bank credit and financial institution (factor) on the basis of a financing agreement for the assignment of a monetary claim (factoring);
  • for the acquisition of government securities denominated in foreign currency, provided that these securities will remain in their ownership for at least 30 days continuously;
  • on proceeds in foreign currency coming to legal entities and individual entrepreneurs from the sale of property converted into state revenue, as well as property, which is levied against the unfulfilled tax liability, unpaid penalties, in the amount to be transferred to the budget;
  • in other cases by decision of the President of the Republic of Belarus.

2. Currency loans and credits

2.1. Credits of authorized banks

Credits can be provided by authorized banks to legal entities in Belarusian rubles and in foreign currency.

2.2. Credits (loans) provided by non-residents

Execution by a subject of a currency transaction - a resident - associated with the attraction of credits and (or) loans from a non-resident, requires the authorization of the National Bank of the Republic of Belarus with at least one of the following conditions:

  • the interest rate for the use of the credit and (or) the loan exceeds the following levels: for transactions in US dollars, euros - 14 percent per annum; when carrying out operations in other foreign currencies, Belarusian rubles - the refinancing rate of the relevant central (national) bank, which is valid by the date of receipt of the credit and (or) loan by the subject of the foreign exchange transaction by the resident, increased by 5 percentage points;
  • the interest rate for the use of the credit and (or) a loan in the event of a delay in the repayment of the credit and (or) a loan (in the amount of an increase in the interest due to the delay in the repayment of the credit and (or) a loan) and the amount of the penalty (fine, penalties) 0.01 percent for each day of delay (3.65 percent per annum). To calculate this level in the event that in the contract the amount of the penalty (fine) is expressed in a fixed amount, it is converted into a percentage expression;
  • In addition to the interest rate for the use of the credit and (or) a loan, the contract between the subject of foreign currency operations - resident (except for the bank) and the non-resident (other than the bank) establishes the obligation to make other additional payments (except for payments for the use of the credit and (or) a loan in case of delay in repayment of a credit and (or) a loan (in the amount of an increase in the amount of interest due to delay in the repayment of a credit and (or) a loan), as well as payments for payment of a penalty (fine);
  • the amount of the credit and (or) the loan goes to pay the resident's liabilities (the credit recipient, the borrower), bypassing his bank account;
  • the performance of obligations for the repayment of a credit and (or) a loan is not made from the account of the credit recipient, the borrower;
  • the creditor or loan lender is registered in the state (on the territory) where the preferential tax regime operates and (or) does not provide for the disclosure and provision of information on financial transactions (offshore zones);

Loans in the framework of intergovernmental agreements attracted under the guarantee of the Government of the Republic of Belarus are granted on the basis of a separate decision of the Council of Ministers of the Republic of Belarus in agreement with the President of the Republic of Belarus, while obtaining a license or registering a loan with the National Bank of the Republic of Belarus is not required.

3. Acquisition of foreign currency by resident legal entities in the domestic foreign exchange market

The subject of currency transactions - a resident is entitled to buy foreign currency in the domestic foreign exchange market of the Republic of Belarus for conducting the following foreign currency transactions:

1) settlement of transactions providing for the export and (or) import of goods (excluding cash, securities and real estate), protected information, exclusive rights to the results of intellectual activity, works, services;

2) making settlements for the repayment of the loan amount and (or) paying interest on loans provided by the Ministry of Finance of the Republic of Belarus in foreign currency, and for reimbursement to the Ministry of Finance of payments made for the repayment and servicing of loans in foreign currency received under the guarantee of the Government of the Republic of Belarus ;

3) payment of taxes, fees, duties, other mandatory payments to the republican and local budgets, state special-purpose budgetary and extra-budgetary funds, as well as to accounts of enforcement agencies or agencies authorized to charge payments to the budget, state special-purpose budgetary and extra-budgetary funds in the event that the possibility of paying only in foreign currency is provided for by the legislation of the Republic of Belarus.

4) payment of expenses related to traveling outside the Republic of Belarus, namely:

  • expenses connected with official business trips abroad, including for training, as well as for internships, seminars, conferences and other activities related to the improvement of the qualifications of the employees of the foreign exchange resident entity;
  • expenses related to the transfer of other persons abroad in cases stipulated by law;
  • expenses related to travel of individual entrepreneurs - residents outside the Republic of Belarus;
  • payment of money, to be accounted for, to drivers of buses and trucks operating on regular international passenger and freight lines for payment outside the Republic of Belarus of an insurance premium, premium under insurance, road, environmental, customs duties and taxes, forced small repairs, for purchasing fuels and lubricants, parking; 
  • payment of allowances paid in foreign currency in accordance with the legislation of the Republic of Belarus, for the mobile and traveling nature of the work, the production of work on a rotational basis, for permanent work on the road, work outside the place of permanent residence (field allowance);

5) making settlements with the bank on currency transactions that are banking transactions (with the exception of commission payments).

6) making settlements for transactions concluded with a non-resident providing for the transfer and (or) obtaining of property for lease (leasing).

7) payment of insurance premium, execution of settlements under insurance, co-insurance, reinsurance agreements between subjects of foreign exchange operations – residents;

8) making payments to a non-resident for payment of dividends and other income on investments.

9) carrying out non-trade transactions.

10) making settlements on transactions providing for the receipt of credits and (or) loans from foreign investors in foreign currency.

11) making settlements with non-residents for currency transactions related to the movement of capital, which are carried out without obtaining a separate permit from the National Bank to conduct this type of currency transaction.

12) other currency transactions in the presence of the permission of the National Bank of the Republic of Belarus to purchase foreign currency.

Regulation of payments of residents (legal entities and individual entrepreneurs) for imports

Effecting payment (s) by the importer in favor of a non-resident from an account opened with a bank of the Republic of Belarus for a foreign trade transaction (s) carried out under the foreign trade contract providing for imports until the date on which the non-resident terminates his obligations to the importer for delivery goods, transfer of protected information, exclusive rights to the results of intellectual activity, performance of works, provision of services (hereinafter - advance payments) is prohibited, except for making advance payments to the permission of the National Bank of the Republic of Belarus.

Currently, advance payments for imports are allowed without restrictions in favor of business entities of the Russian Federation and the Republic of Kazakhstan. In favor of other economic entities - non-residents, importers are allowed to make advance payments at the expense of the foreign currency available at their disposal, received as:

  • Revenues;
  • loans (credits) from non-residents;
  • contributions to the statutory fund;
  • Foreign gratuitous assistance;
  • dividends and other income from investments;
  • interest on loan agreements with non-residents;
  • interest for placement of foreign currency on bank accounts;

*interest on liabilities made by banks of the Republic of Belarus

In addition, temporarily by March 1, 2012 importer's settlements with non-residents under a foreign trade contract, if the total amount of the importer's monetary obligations exceeds EUR 50,000 equivalent and provides for the import of goods in accordance with the list established by the Government of the Republic of Belarus and the National Bank of the Republic of Belarus, are carried out exclusively:

1) at the expense of the proceeds available to the importer in foreign currency;

2) at the expense of the foreign currency available to the importer, received by him as:

  • contributions to the statutory fund;
  • foreign gratuitous assistance;
  • dividends and other income from investments;
  • interest on loan agreements with non-residents;
  • Interest for placing foreign currency on accounts opened with banks;
  • interest on bank liabilities;

3) at the expense of foreign currency received under loan agreements (credit agreements) concluded with non-residents for a period of at least 1 year;

4) at the expense of foreign currency received under credit agreements with banks of the Republic of Belarus for a period of at least 1 year;

5) at the expense of the importer's foreign currency received by him in accordance with currency legislation from other residents, except banks;

6) at the expense of the importer's foreign currency received by him in accordance with currency legislation from non-residents for transactions involving the alienation of immovable property;

7) in the form of a letter of credit in the case when the importer and the issuing bank do not make payments under the letter of credit in favor of the beneficiary or the non-resident bank for at least 360 days from the date of opening the letter of credit;

8) in other cases with the permission of the National Bank of the Republic of Belarus.

Settlements with business entities of the Russian Federation and the Republic of Kazakhstan on these foreign trade contracts in the national currencies of the three countries are carried out without restrictions.

11.3. Acquisition of foreign currency by non-resident legal entities in the domestic foreign exchange market

Foreign exchange transactions in the domestic foreign exchange market of the Republic of Belarus are carried out by a non-resident currency operator in case of need determined directly by him, with the exception of cases determined by acts of currency legislation of the Republic of Belarus.

The purchase of foreign currency in the foreign exchange market is carried out by a non-resident currency operator through a bank with which an account in Belarusian rubles, from which a foreign currency is purchased, is opened, an account in foreign currency to which the acquired foreign currency is credited.

The purchase of foreign currency in the over-the-counter foreign exchange market can be carried out by a non-resident currency operator from a bank with which an account in Belarusian rubles from which a foreign currency is purchased is opened, or  from a bank with  which an account in Belarusian rubles from which a  foreign currency is purchased is not opened.

Scheme of actions of investors who expressed their desire to invest in the economy of Minsk

The Minsk City Executive Committee annually approves the list of land plots for provision to legal entities and individuals in the established order, i.е. by way of preparing and holding an auction for the right to conclude a lease agreement for a land plot (without demolishing existing facilities) or an auction with conditions for the right to design and build capital structures (with the demolition of existing facilities) or with the consent of the Head of State (with the exception of organizations to which the right to provide land plots is directly established by law).

If the investor specifies a specific investment object, the sequence of actions is as follows:

  • The investor applies in writing to the Minsk City Executive Committee with a request to provide a land plot for the construction of the facility. In this appeal, the purpose of its provision, the planned location and the approximate area, the proprietary right to the requested land plot, the characteristics of the construction object, including its functional purpose and indicative dimensions, should be indicated. In addition, the investor's appeal should contain information about the amount of planned investments and sources of financing. Appeals of the absolute majority of investors do not contain a complete list of the specified information.
  • The Minsk City Executive Committee selects a land plot that meets the characteristics requested, informs the investor about the conditions for its development.
  • For the organization of further work of the investor on the specification of the investment proposal, a protocol of intent and investment cooperation is concluded with it.
  • Since the Minsk City Executive Committee does not have the right to provide land plots to legal entities without departmental subordination without conducting the above auctions, the consent of the President of the Republic of Belarus to grant a land plot to a particular investor is necessary. To prepare an appeal to the Head of State, the Minsk City Executive Committee invites the investor to preliminary develop an architectural concept for the construction of the proposed land plot and submit it to the Architecture and Town Planning Committee for approval. Then the architectural concept, previously agreed by the said Committee, is submitted for consideration to the Chairman of the Minsk City Executive Committee.
  • After approval of the architectural concept by the Chairman of the Minsk City Executive Committee, depending on the scale of the facility as well as the size of the area and the location of the land plot, they either prepare a presentation at the President of the Republic of Belarus, or prepare a petition to obtain the permission of the Head of State to provide a land plot to a specific investor without holding an auction.
  • In the first case, after approval of the architectural concept by the Head of State it is required to prepare and coordinate with the interested government authorities the draft decree of the President of the Republic of Belarus on the conditions for the implementation of the investment project. To this end, the investor needs to develop a business plan for the proposed investment project with justification of the list and economic feasibility of granting preferences for the project. The business plan is also necessary for the conclusion of an investment agreement with the Republic of Belarus.
  • In the second case, after the approval of the architectural concept by the Chairman of the Minsk City Executive Committee and presentation of the business plan of the proposed investment project by the investor with the justification, if necessary, of the list and economic expediency of granting preferences for the project, the Minsk City Executive Committee shall prepare a written appeal to the President of the Republic of Belarus for obtaining permission to provide the land plot to a specific investor without holding an auction. At the same time, if the implementation of the project does not imply granting preferences to the investor within the competence of the Head of State, approval of the allocation of a land plot can be effected without the preparation of a corresponding draft decree of the President of the Republic of Belarus. If it is necessary to provide the investor with preferences, the draft decree of the Head of State and its coordination with interested government bodies may be was carried out without preparation of the corresponding draft decree of the President of the Republic of Belarus. If it is necessary to give the investor preferences, the draft decree of the Head of State and its coordination with the interested government bodies can be carried out on behalf of the President of the Republic of Belarus after the principal consent of the Head of State for the implementation of the project. It should be noted that foreign investors need to create and register in the Republic of Belarus a foreign or joint venture that will act as the customer of the design and construction of the facility for carrying out investment activities.
  • After receiving the consent of the Head of State in any form, the investor must apply to the Minsk City Executive Committee in writing with a request to provide him with a specific land plot.
  • In accordance with the appeal, the Deputy. Chairman of the Minsk City Executive Committee Nikolai Ladutko entrusts the MUE “Minsk City Center for Engineering Services” with the issuance of an architectural and planning assignment and technical conditions for the preparation of land cadastral documentation (the act of choosing the location of the land plot), and the RUE “Belgiprozem” with the development of such documentation. At the same time, one should take into account that part of the technical conditions the customer must collect independently or conclude a fee-paying contract for their collection with the MUE “Minsk City Center of Engineering Services”.
  • The act of choosing the location of the land plot prepared by the RUE "Belgiprozem" is considered at the meeting by the relevant commission of the Minsk City Executive Committee, signed by all its members and approved by the Chairman of the Minsk City Executive Committee.
  • The act of choosing the location of the land plot approved by the Chairman of the Minsk City Executive Committee is in fact a permit for carrying out design and survey work.
  • Further actions of the investor in the implementation of the project are determined by the legislation regulating the process of designing and construction of facilities, as well as the President's Decree on the condition for the implementation of a specific investment project.

Provided that the investor makes a proposal on the intention to invest in a wide range of facilities, the procedure is similar, only the time necessary to determine an acceptable investment object for both parties and the subsequent determination of the conditions for the development of the land plot is added.

Problematic issues:

  • When applying to the Minsk City Executive Committee or other state bodies, investors often do not have a complete list of information on the parameters of the investment object and the land plot required for these purposes, or their proposals are merely declarative, without prioritization, which is delaying the time for selecting it and proposing a suitable plot of land.
  • Information on the proposed land plots included in the list approved by the Minsk City Executive Committee is extremely limited (the size of the land plot, its location, the functional purpose of the construction site, the name of the buildings or facilities subject to demolition), which is insufficient to negotiate with specific investors and leads to a prolongation of the pre-investment stage of the investor for a long period (maybe a year or more to determine the list of land users and the amount of losses to the owners of the demolished objects, other information about the conditions for the development of this land plot, because they simply do not allow him to make a final decision).
  • After making a decision to invest in a specific facility (facilities), a foreign investor needs time to establish a resident enterprise of the Republic of Belarus for investment activities.
  • Failure or initial refusal of the investor to develop a business plan for the investment project, which does not allow him to assess his project implementation possibilities, including the period of time for implementation, the terms of implementation, the payback of the project, the necessary list of preferences and the reasonableness of their provision., which leads to the need to introduce changes in the decisions of the President of the Republic of Belarus, including Decrees of the Head of State, after the approval of the act of choosing the location of the land plot, I. е. after obtaining a permit for design and survey work.