Dmitry Viltovsky

Dmitry Viltovsky

Dmitry Viltovsky is a Managing Partner and Head of M&A and Corporate law of GRATA International BY. Dmitry is an expert in the fields of investment law and public-private partnership (PPP), project financing, corporate law, including intra-corporate conflicts.

Dmitry has extensive experience in accompanying the entry of foreign investors into the Belarusian market in various sectors of the economy, privatization of state-owned property, structuring transactions, conducting legal due diligence, making major transactions and implementing projects in real estate and construction.


  • М&А.
  • Corporate law.
  • Project Financing and Public-Private Partnership (PPP).
  • Licenses and permits.
  • Restructurisation and bankruptcy.
  • International trade and custom law, WTO law, EAEU.

Industry Sectors: 

  • Industry and commerce. 
  • Pharmacy.


  • Ranked by Chambers Europe: Leading Lawyer for Corporate Practice.
  • Ranked by Chambers Global: Leading Lawyer for Corporate Practice.
  • Lead lawyer in the field of real estate and construction, The Legal 500.
  • Lead lawyer in the field of banks, finance, and capital markets, The Legal 500.
  • Lead lawyer in the M&A field, IFLR 1000. 


  • Law Faculty of Belarusian State University 
  • Academy of Public Administration under the aegis of the President of the Republic of Belarus


  • Conduct professional activity since 2003.
  • From 1996 to 1999, Mr. Viltovsky worked as the Deputy Head of the Department for Registration of Enterprises with Foreign Investments in the Ministry of Foreign Economic Relations of the Republic of Belarus.
  • From 2003 to 2006, Mr. Viltovsky was a partner and director of the investment and law firm JUS Publicum.
  • From 2006 to 2019, Dmitry Viltovsky was a partner of the law firm “Arzinger and partners”.


  • German
  • Russian
  • Belarusian

More than 20 articles  in foreign and national publications on corporate law, M&A, legal regulation of public-private partnerships and foreign investments in Belarus.

  • Representing the interests of the Russian investor in the process of acquiring controlling stakes in state-owned sewing enterprises. 
  • Providing full legal support of the investment project on the production of dairy products in Belarus of the Swiss investor FPM Finastate Projects Management company. 
  • Accompanying € 200 million project to develop the territory of the High-Tech Park, implemented by an Israeli investment holding. 
  • Representing the interests of the Belarusian companies in the course of drafting and concluding investment agreement aimed at construction of production lines for toys for kids.
  • Providing full legal support in the course of conclusion of the investment agreement and the agreement on the establishment of a general construction object with German investor.
  • Representing the interests of international vacuum equipment producer within conclusion of an agreement with Belarusian export agency on the distribution of its equipment in the Middle Eastern countries.
  • Legal support of Belarusian engineering and production company (medical equipment) on acquisition of shares in Chinese legal entity.
  • Advising the Polish construction company in the implementation of construction projects in Belarus for a total amount of more than 200 million euros. Financing of projects is carried out with the involvement of credit funds of the Polish bank BGK.
  • Legal support for entering the Belarusian market a Spanish retailer, including support for registering legal entities in the Republic of Belarus, setting up a corporate structure, supporting the activities of Belarusian companies in all matters, as well as legal support for concluding lease agreements for offices and store premises (total area of over 8,000 m2).
  • Representation buyer’s interests on the acquisition of a majority stake in the Belarusian seller of children's clothes by Polish company (including legal DD, approval of a transaction with an anti-monopoly authority, transaction structuring, etc.)
award icon
Legal 500 EMEA, 2021 Leading Individual

award icon
Chambers Global 2020, Band 3

The editorial team notes Dmitry's expertise in M&A and corporate mandates and his projects advising foreign companies on market entry to Belarus.

award icon
IFLR 1000, Highly regarded lawyer, 2019


publication image

The first offline meeting of the “Banking & Finance” Committee in Uzbekistan

publication image

GRATA International held an international online conference on Corporate law

publication image

GRATA International Belarus, together with the National Agency of Investment and Privatization of the Republic of Belarus, has released an investment guide


publication image

GILS Dispute Resolution: Belarus

publication image

GRATA International Legal Series (GILS): Dispute Resolution

publication image

Pricing regulation in healthcare in Belarus: drugs