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17 January 2024, 10:33

Belarus government adopts procedure to alienate property of unfriendly countries

MINSK, 17 January (BelTA) – The Belarusian government has adopted a procedure and conditions for granting permissions for alienating property owned by individuals from unfriendly countries. It is stipulated by the Council of Ministers’ resolution No.27 of 12 January 2024. The document has been published by the national legislation registry, BelTA has learned.

The document passes a regulation on the procedure and conditions for granting permissions for alienating shares in authorized funds and for alienating real estate. It will apply to foreigners, who commit unfriendly actions with regard to Belarusian legal persons and natural persons.

The Council of Ministers resolution regulates various matters concerning the alienation of real estate by legal persons, in which authorized funds the share of ownership of individuals from unfriendly countries is 25% or more. The document also regulates the reorganization of legal persons, which is partially owned by foreigners.

In order to receive permission for alienating the property, it is necessary to apply to an oblast administration or the Minsk City Executive Committee depending on where the legal person is registered. The decision on granting the permission will be sent to the State Property Committee, which will draft government resolutions on granting the permissions on a regular basis.

The document also invalidates several Council of Ministers resolutions, which regulate the alienation of property owned by foreign persons.

The resolution comes into force as of the official publication date.

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