On January 10, 2024, Law No. 347-Z of January 5, 2024 was published, which extended the moratorium on linking rent to the equivalent of a certain amount in foreign currency until January 1, 2025.

Important: Additionally, there is a ban on setting rent in conventional (account) monetary units (“special drawing rights”, etc.).

Borovtsov & Salei has many years of experience in advising on rental relations, including the expertise of rent agreements. We will be glad to be of service to you.

We are pleased to present you the quarterly Newsletter, traditionally prepared by Borovtsov & Salei team, in which we pointed out the most significant, in our opinion, legislative changes for business in Belarus for the period of October - December 2023.

Newsletter 2023 (Q 4) can be found here: Newsletter 2023 (Q 4) from Borovtsov & Salei.

Everyone has his own perception of time. But to be involved in its calculation is a special privilege.

Having become a legal advisor to Group Franck Muller Watchland S.A. on entering the Belarusian market and acquiring a controlling stake in the Minsk Watch Plant in 2009, the Borovtsov & Salei team, together with Luch, is keeping up with the times.

Thank you LUCH for your trust! Happy anniversary LUCH!

On November 18, 2023, the Law of the Republic of Belarus of November 13, 2023 No. 312-Z “On Amendments to Codes” was officially published, introducing numerous changes and additions to the Civil Code of the Republic of Belarus and accompanying changes to the Labor Code, Banking Code, Housing Code.

As a general rule, innovations in codes will come into force one year after the official publication of the Law, that is, November 19, 2024.

Exception: certain provisions regarding the legal regulation of rental relations and free use, which came into force on November 19, 2023. Read more about this in our publication.

On October 22, 2023 the provisions of Edict of the President of the Republic of Belarus No. 326 of October 19, 2023 (hereinafter - Edict No. 326) come into force.

Edict No. 326 establishes new rules - alienation of assets (shares in authorized capital, shares, real estate) by persons from "unfriendly" states (hereinafter - foreign persons), - withdrawal of a foreign person from the membership of participants, - reorganization of legal entities whose participants are foreign persons.