Belarus Bans Setting Real Estate Rate In Foreign Currency

This applies to both residential and commercial real estate.

Today, a law was published on the National Legal Portal, according to which the right to determine the amount of rent in foreign currency has been suspended in Belarus. This applies to both residential and commercial real estate, writes realt.by.

The law amends the Civil and Banking Codes of Belarus. In particular, it suspends the right of the lessor to set the rent in amounts equivalent to foreign currency.

The innovation comes into effect in 2 months. Until that time, all previously concluded agreements must be unpegged from foreign currency.