Rent and acquisition of real estate property
According to the legislation of the Republic of Belarus land plots are not subject to sale, but they can be leased out. Executive-administrative body authorities and private owners are entitled to be renters. Conditions, terms and amount of rent are determined as agreed by parties and introduced in a contract.
Moreover, lease terms shall not exceed 99 years, and in case of agricultural use shall not be less than 5 years. Land plots also can be subjects of mortgage, but only as material guarantees of bank loan repayment. Pledgor’s property rights shall be certified by an act of state.
The sale of an object of state property (enterprises, equipment, buildings, facilities etc) is conducted at competitive tenders or auctions, with foreign investors able to participate. It is necessary to file an application for participation in time, pay amount of guarantee, special charge for submission of an application, registration fee and other documents needed.
Building or construction lease is performed on the basis of a contract, concluded for a term not less than 1 year. Such contract is subject to state registration and deemed concluded since the registration date. In case lease term is not stipulated in the contract, it shall be considered to be concluded sine die.
Flats and houses can be acquired by foreign citizens under sales and purchase agreement in case they permanently reside and work in the country or legal entities in case they are registered on the territory of Belarus.
