Document from CIS Legislation database © 2003-2019 SojuzPravoInform LLC

LAW OF THE REPUBLIC OF BELARUS

of July 22, 2003 No. 226-Z

About currency control and currency exchange control

(The last edition from 05-01-2016)

It is accepted by the House of Representatives on June 25, 2003

Approved by Council of the Republic on June 30, 2003

This Law establishes bases of currency control and currency exchange control for the purpose of ensuring stability of paying balance and Belarusian ruble, economic safety, maintenance of sustained economic growth and development of international cooperation of the Republic of Belarus.

Chapter 1. General provisions

Article 1. The main terms and concepts applied in this Law

For the purposes of this Law the following main terms and concepts are applied:

1. Currency control - activities of state bodies (bodies of currency control) for establishment of procedure for the address of currency values, including rules of ownership, use and the order them.

2. Currency exchange control - the activities of bodies of currency exchange control and agents of currency exchange control aimed at ensuring compliance by residents and nonresidents of requirements of the foreign exchange legislation of the Republic of Belarus.

3. Currency values:

foreign currency;

the payment documents in foreign currency which are those according to the legislation of the Republic of Belarus;

securities in foreign currency;

Belarusian rubles in case of transactions between residents and nonresidents, transactions between nonresidents in the territory of the Republic of Belarus, implementation of the bank transfers between residents and nonresidents which are not connected with implementation of payment under transactions, implementation of international bank transfers between residents or nonresidents and also during the importing and transfer to the Republic of Belarus, export and transfer from the Republic of Belarus, implementation by nonresidents of the transactions which are not attracting transition of the property right to Belarusian rubles on accounts and deposits (deposits) in banks and the non-bank credit and financial organizations of the Republic of Belarus;

securities in Belarusian rubles in case of transactions between residents and nonresidents, transactions between nonresidents in the territory of the Republic of Belarus, their import and transfer to the Republic of Belarus, export and transfer from the Republic of Belarus;

payment documents in Belarusian rubles in case of transactions between residents and nonresidents, transactions between nonresidents in the territory of the Republic of Belarus, during the importing and transfer to the Republic of Belarus, export and transfer from the Republic of Belarus.

4. Foreign currency:

the bank notes in the form of banknotes, treasury notes, coins which are in circulation and being legal means of payment in the corresponding foreign state or group of the states, and also withdrawn or withdrawn from circulation, but subject to exchange the specified bank notes;

means in monetary units of foreign states and international cash or units of account, the Republic of Belarus which is on accounts in banks and the non-bank credit and financial organizations, banks and other credit institutions outside the Republic of Belarus.

5. Securities in foreign currency:

the securities which are those according to the legislation of the Republic of Belarus which nominal value is expressed in foreign currency;

the securities which are those according to the legislation of the Republic of Belarus, not having nominal value and expressed in foreign currency;

the securities issued by nonresidents and which are those according to the legislation of foreign states which nominal value is expressed in foreign currency;

the securities issued by nonresidents and which are those according to the legislation of foreign states, not having nominal value and expressed in foreign currency.

6. Securities in Belarusian rubles:

the securities which are those according to the legislation of the Republic of Belarus which nominal value is expressed in Belarusian rubles;

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