Belarus tightens restrictions on dividend payments to investors from unfriendly countries
MINSK. July 24 (Interfax) - The Belarusian government has tightened control over the payment of profits and dividends to foreign investors associated with countries recognized as unfriendly to Belarus, and the government published the corresponding resolution on Wednesday on the national legal portal.
The resolution stipulates that the restrictions on dividend payments previously implemented until December 31, 2025, have been extended until the end of 2026.
The restrictions were previously applied when the amount of profit or dividends paid during the calendar year exceeded 80,000 base units in total for all foreign participants and owners of the resident's property, with 1 base unit currently being 42 Belarusian rubles. The latest resolution implements a differentiated approach to the payment of dividends. A threshold of 20,000 base units, which is currently 840,000 Belarusian rubles, has been established. When the threshold is exceeded, additional conditions are established for the payment of dividends. Thus, in addition to maintaining at least 70% of the number of employees and the absence of debts on taxes, salaries, loans and other obligations, the enterprise must be profitable, and the amount of dividends must not exceed 50% of the average foreign direct investment over five years. Requirements are also established for the size of average salaries paid to the company's employees.
As previously, paying out dividends and profits to foreign investors requires permission from the local executive authorities.
As reported, the Belarusian government in April last year implemented restrictions on paying out dividends and profits to the owners of stakes and shares in Belarusian companies who are from unfriendly countries, namely Australia, European Union countries, Canada, Liechtenstein, Norway, New Zealand, Albania, Iceland, North Macedonia, the UK, the United States, Montenegro, and Switzerland.
The official exchange rate as on July 23, 2025, was 2.9189 Belarusian rubles/$1.
