Buying property in Belarus
How to buy houses and apartments in Belarus?
What are the prices in the Belarusian capital and small towns?
Will you get Belarusian citizenship when buying a property?
How to invest in real estate in Belarus? What are the taxes when buying an apartment?
Can you buy an apartment in installments?
We will try to explain this topic to you in this article
How to buy an apartment in Belarus?
The process is not lengthy-it takes no more than a week-sometimes it can be finished in two to three days
When real estate agencies in Belarus have a fixed price for apartment selection services, it is about 600 dollars – they offer you no less than 7 choices
The cost of registering a used apartment in your name is about $1,000, including all government fees. And if we are talking about a new apartment, then all the drawings are included in its price
You will also need an interpreter when signing all transactions and contracts
As for the purchase of houses, there is a very important point here - a foreigner cannot buy land in Belarus – you are allowed to rent land only for 99 years, after which the lease period is extended
I mean, if you buy the house, the House will be in your ownership, but the land will remain in the ownership of the state
The seller who wants to sell his house with the land to a foreigner must return his land to the state (free of charge) and then rent it from the state
After that, the land lease agreement is re-concluded in the name of the foreigner (between the state and the foreigner)
The whole process takes 2-3 months
The annual rental price of land is determined by local executive committees
What advantages will you get after buying a property in Belarus?
Do not get a passport unless you have lived in Belarus for more than 7-8 years
You can get a renewed annual residence permit and an annual multi-entry visa, which means that you can enter Belarus at any time with this visa and stay in Belarus more than 90 days a year
This residence permit is issued only if you really live in this apartment or house and want to spend a lot of time in the country
The process of obtaining usually takes from two weeks to one month
And surely you should spend this time in this apartment or house
What are the taxes when buying an apartment in Belarus?
There is no additional tax when buying property in Belarus – the tax is there when selling it. It is income tax-you pay it when selling the property.
Income tax in Belarus is equal to 13% of profit
It means if you bought the apartment for 100 thousand dollars and after a year you decided to sell it for 150 thousand dollars, you pay 13% of the interest, which is 50,000 dollars.
Means you pay 6500 dollars.
If you bought for 150 thousand and sold for 150 thousand, do not pay anything.
Prices for buying apartments and cottages in Belarus
In the Belarusian capital the prices of apartments, for example, a room and a lounge range from 50-400 thousand dollars
The price depends on several factors, they are:
-Proximity to the city center
-Restoration level
-Whether the apartment is furnished or unfurnished
-Whether it's in an old or new building
As for other regions and cities, for example, in the Belarusian provinces Vitebsk, Brest, Grodno or Gomel, the prices for an apartment consisting of a room and a lounge range from 25 to 58 thousand dollars
The cheapest apartments you will find in small towns with a population of 10-15 people, where the prices of furnished apartments start from 15-20 thousand dollars