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Law No. 53-Z of the Republic of Belarus On Investments.

Country/Territory
Belarus
Document type
Legislation
Date
2013
Source
FAO, FAOLEX
Subject
Land & soil, General
Keyword
Concession Intellectual property rights/patents Business/industry/corporations Ownership Credit Financing Contract/agreement Cultural heritage Public health
Geographical area
CIS (Commonwealth of Independent States), Eastern Europe, Europe, Europe and Central Asia
Entry into force notes
This Law enters into force in the following order: Articles 1–21 – in six months after the official publication of this Law; Article 22 – after the official publication of this Law.
Abstract

This Law establishes legal bases and fundamental principles of carrying out investments in the territory of the Republic of Belarus and is directed at attracting investments in the economy of the Republic of Belarus, ensuring guarantees, rights and legitimate interests of investors and their equal protection as well. Investments shall be intended: any property and other objects of civil rights belonging to an investor on the right of ownership, another legal basis which allows him to dispose of such objects being invested in the territory of the Republic of Belarus in ways provided by this Law with a view to receive profit (incomes) and/or achieving another significant result or with other purposes not related to personal, family, household and other likewise use, in particular: (a) movable and immovable property, including shares, stakes in the statutory fund, stocks in the property of a commercial organization created in the territory of the Republic of Belarus, monetary means, inclusive of attracted ones, including loans, credits; (b) rights of claim having assessment of their value; (c) other objects of civil rights having assessment of their value, with the exception of those objects of civil rights the circulation of which is not allowed (objects withdrawn from circulation). Investors shall be intended: (a) citizens of the Republic of Belarus, foreign citizens and stateless persons residing permanently in the territory of the Republic of Belarus, including individual entrepreneurs, and also legal persons of the Republic of Belarus, carrying out investments in the territory of the Republic of Belarus; and (b) foreign citizens and stateless persons not residing permanently in the territory of the Republic of Belarus, citizens of the Republic of Belarus residing permanently outside the Republic of Belarus, foreign or international legal persons (organizations not being legal persons), carrying out investments in the territory of the Republic of Belarus. This Law is applicable to relation connected with carrying out investments in the territory of the Republic of Belarus, with the exception of: (a) contributing property to non-commercial organizations in relation to the property of which their founders (participants) do not have ownership or other real rights; (b) acquisition of securities, except for shares; (c) acquisition or construction by citizens of the Republic of Belarus, foreign citizens or stateless persons of dwelling houses, dwelling premises for residence of these citizens of the Republic of Belarus, foreign citizens or stateless persons and/or members of their families; and (d) extending loans, credits and repayment thereof, placement of bank deposits. In the territory of the Republic of Belarus investments are carried out in following ways: (a) through creation of a commercial organization; (b) through acquisition, creation, including by constructing, of immovable property objects, with the exception of cases specified by indent four of Article 2 of this Law; (c) through acquisition of rights to intellectual property objects; (d) through acquisition of shares, stakes in the statutory fund, stocks in the property of a commercial organization, including instances of increasing the statutory fund of a commercial organization; on the basis of a concession; and (e) in other ways, except for those prohibited by the legislative acts of the Republic of Belarus. It is not allowed to carry out investments in the property of legal persons having a dominant position on the commodity markets of the Republic of Belarus without the consent of the anti-monopoly body of the Republic of Belarus in the cases provided by the antimonopoly legislation of the Republic of Belarus, and also in activities prohibited by the legislative acts of the Republic of Belarus. Restrictions in carrying out of investments may by also established on the basis of legislative acts of the Republic of Belarus in the interests of national security (including protection of environment and historic-cultural valuables), public order, protection of morality, health of the population, rights and freedoms of other persons. An investor has the right to conclude a contract (contracts) with the Republic of Belarus, related to carrying out investments, in the order and on the conditions established by the legislation of the Republic of Belarus.

Full text
English
Website
investmentpolicy.unctad.org