Amendments to Loan Legislation (Belarus)
22 October 2025, the Law of the Republic of Belarus “On Amending Laws on the Provision of Loans” (hereinafter — the Law) was published. The Law will enter into force in six months — on 23 April 2026.
This Law introduces significant changes to loan relationships.
At present, a loan in foreign currency (or in its equivalent, or in conventional monetary units) may be granted by an individual to any other individual.
After the Law enters into force, such loans will only be permitted between close relatives* — regardless of whether they are residents or non-residents of Belarus.
* Close relatives of an individual are understood to mean: the spouse, parents (including adoptive parents), children (including adopted children), siblings, grandparents, grandchildren, great-grandparents, great-grandchildren, and the same relatives of the spouse.
Furthermore, from 23 April 2026, repayment in foreign currency of loans granted to persons who are not close relatives of the lender will also be prohibited.
As a general rule, this restriction should not have retroactive effect — that is, it should not apply to existing loan agreements, except in cases where the loan term is extended, in which case such agreements will need to be brought into compliance with the new requirements.
The Law will also limit the amount of interest that may be charged under loan agreements between individuals (other than individual entrepreneurs), as well as the total amount of accrued penalties.
In this context, the restriction applies to accrued, but not yet recovered, amounts.
A person’s only residential property may no longer be used as collateral under such loan agreements or as security under guarantees issued to ensure their performance.
Legal entities that are not authorised to engage in micro-financing activities will be prohibited from granting loans to individuals who are not registered as individual entrepreneurs.
An exception applies to loans granted by an organisation to its employees.
The Law does not set any restrictions regarding the employee’s working hours or length of service with the lender.
How to Avoid Risks and Penalties after 23 April 2026
If your company regularly provides loans to employees or related individuals, it is essential to update your internal policies and contract templates now.
REVERA will conduct an audit of your loan practices and develop a step-by-step compliance plan fully aligned with the new legislation.
Contact us: belarus@revera.legal
Author: Mikhail Dzenisiuk.
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