If you are an investor and wish to invest in our economy, you may get additional preferences from now on through a new mechanism of an investment agreement introduced by the Presidential Decree ¹10 of 6 August 2009 that entered into force on 6 November.
With the help of an investment agreement, foreign investors may now realize their projects in Belarus more smoothly and promptly.
Through an investment agreement, you can :
- Build premises, as set by an investment project, in parallel with the preparation of construction documents = you do not need to wait until all papers are processed in all stages of construction as you may start building premises straight away.
- Lease a land lot needed for construction without an auction. During the whole period of your investment project, the lease payment shall not exceed the price defined of the moment of signing the investment agreement.
Through an investment agreement, you are free from :
- Land lease agreement fee.
- Compensation related to agricultural or forestry losses stemming from your investment activities.
- Custom dues and VAT if you bring with you from outside Belarus equipment or spare parts needed to implement your investment project.
- Employment authorization fee for foreign nationals that you hire to carry out your investment project and temporary residence authorization fee for these nationals.
The investment agreement will also clearly set out its duration terms and amount of money to be invested, rights and responsibilities of both parties – you and Belarus, including requirements on damage compensation to an investor over the result of illegal actions or inaction of Belarus state bodies or executive committees.
The investment agreement is subject to legal expertise and state registration.
In a number of cases, an investment project does not need a business plan and a comprehensive state expertise.
Additionally, your investment activities might be guided with the help of expert advice and support of an investment agent (mechanism formerly via the Presidential Decree ¹ 413), either a person or a company, which is a new legally introduced institutional mechanism of conducting investment activities in Belarus. In particular, you may get professional assistance of an investment agent in consultancy, marketing and paper work.