On February 22, 2025, amendments to the Civil Code of the Republic of Belarus, established by the Law of the Republic of Belarus of February 17, 2025, N 62-Z "On Consumer Credit and Consumer Microloans," came into force. In accordance with these amendments, a prohibition on the use of foreign currency in lease agreements is established at the level of the Civil Code. Consequently, the amount of rent and other obligations arising from the lease agreement must be expressed exclusively in Belarusian rubles.
Compared to the previously existing restrictions on setting rent in foreign currency, the Civil Code introduces a prohibition on setting any "other obligations" under the lease agreement in foreign currency. In the context of these changes, "other obligations" can include all monetary obligations that may arise during the performance of the lease agreement, including penalties, fines, compensation for losses, and other similar payments. All of them must also be expressed in Belarusian rubles.
The innovations apply to lease agreements concluded from January 1, 2025. However, they do not apply to residential lease agreements, which are regulated by the Housing Code and do not fall under the amendments to the Civil Code. The changes also do not apply to financial lease (leasing) agreements concluded with legal entities or individual entrepreneurs, for whom the possibility of using foreign currency continues to exist.
If a lease agreement was concluded after January 1, 2025, it must be brought into compliance with the new requirements of the Civil Code. This can be done by concluding an additional agreement to the existing agreement. In the event that a lease agreement concluded after January 1, 2025, provides for the linking of rent or other obligations to a foreign currency, such an agreement will be deemed invalid (void) as not meeting the requirements of the legislation within the meaning of Article 169 of the Civil Code.
Thus, lessors and lessees need to take into account the changes in legislation when concluding, extending, or changing the terms of lease agreements in 2025 to avoid legal risks associated with the use of foreign currency.
Specialists of Lawyer City Law Firm will provide full legal support in matters of adapting lease agreements to the new requirements, ensuring compliance with all current legal norms. We have in-depth knowledge in various branches of law and will ensure full compliance of your agreements with applicable legislation.