The procedure for the alienation of property by persons from "unfriendly" states has been changed

The Decree of the President of the Republic of Belarus No. 93 dated 14.03.2022 "On additional measures to ensure the stable functioning of the economy" has been amended by the Decree of the President of the Republic of Belarus No. 91 dated 13.03.2024.

Certain exceptions have been established regarding cases where it is not required to obtain Government permission and pay a contribution to the budget when alienating shares/stocks and real estate:

• in case of alienation of shares/stocks, real estate:

o   by banks, received by them from debtors, to third parties;

o   by debtor in insolvency or bankruptcy proceedings;

o   gratuitous transfer to state ownership, as well as to the ownership of companies with a 50% state share;

• in case of alienation of real estate:

o   by legal entities under a financial lease (leasing) agreement relations in some cases, for example, being the subject of leasing or collateral under the agreement;

o   by insurance companies in some cases;

o   during construction by developers/customers to citizens;

o   by the debtor based on the decision of the bailiff.

Provisions of the Decree extend their effect to relations that have arisen since 22.10.2023.