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Belarus Hi-Tech Park could open for Google, Facebook and Apple

A new decree by the Belarus President should open doors of the Hi-Tech Park (HTP) for software companies and firms of other high-tech profiles - electronics, machine design, medicine and biotechnology, as well as for investment funds (including venture capital), educational projects for IT professionals and foreign organizations (Google, Facebook, Microsoft and Apple), which monetize IT products through advertising and paid subscription.

Now HTP residents in principle cannot directly act as publishers of their own developments in such popular online application stores as AppStore, PlayMarket and Microsoft Store. The reason is strict legislation in the field of currency control and the specifics of the taxation of transactions in which a non-resident intermediary is involved.

The Decree allows IT companies to monetize software products. If you are from Western Europe, USA or Canada or any other economically developed country, you might ask: what's the deal?

Well, earlier, neither Google nor Facebook could become residents of HTP, because they receive revenue not from selling software, but from advertising. Now this legislative barrier is removed.

In particular, companies can receive revenues from advertising, marketing activities, sell "in-game" goods and intellectual property. Belarusian companies will also be able to provide business services based on software.

 

New legislation for Belarus' Hi-Tech Park due in 2018