MINSK, November 15 (RIA Novosti) – Foreign investors in Belarus will be allowed to buy land for private ownership, Belarusian Economics Minister Nikolai Snopkov said on Thursday.
Foreigners are currently not allowed to own land sites in the former-Soviet republic, which has a mostly state-run economy.
“As soon as 2013, we propose resolving the issue…of granting land sites to investors for private ownership,” Snopkov told a meeting of the Council on foreign investment.
Private land ownership by a Belarusian citizen is limited to one hectare of agricultural land in a household plot and 0.25 hectares of agricultural land under and around a private house. Foreigners are allowed to lease non-agricultural land for a term of up to 99 years.