1 January 2009 the country entered into force on Land Code, which provides for the sale of land in private ownership of land value without the auction. However, so far committed only two transactions.
Under current law, private legal entities registered in Belarus, may acquire ownership of land or on the auction results, or without it. In the latter case it is necessary that the land plot located capital structures are owned by the same legal entity which intends to buy a plot, according to Pro-n.by.
In this case, the owners can become, and foreign companies are registered as resident companies of Belarus, says the head of the Land of SPC Eugene Kapchan.
According to officials, the purchase of land in Belarus is not popular, because market participants are well informed about this possibility. The state intends to fill this gap by introducing a plan to privatize parts of the 2010-2011 year, the implementation of which will be entrusted to the municipal authorities.
Currently only two companies own land in Belarus. One company is foreign.