Who will soon be allowed to become Belarus Hi-Tech Park residents?

Who will soon be allowed to become Belarus Hi-Tech Park residents?

According to a new Belarus Hi-Tech Decree, which is now referred to as the Belarus Digitalization Decree, the following businesses will be able to become High-Tech Park residents:

- Search services;
- Fintech companies;
- Companies whose activities are related to unmanned vehicle management systems;
- Companies operating in the field of biotechnology;
- Intermediary companies, whose intermediary activities are carried out using software that was developed by an HTP resident;
- Digital agencies;
- Educational IT centers;
- Publisher companies;
- Cryptocurrency exchangers;
- Mining centers;
- Companies performing ICO.

What does this mean?

The above list clearly suggests that access to the HTP will open to a large number of companies. They will obtain the desired preferential regime of the HTP resident.

Such expansion will not only quantitatively but also qualitatively expand the range of residents of the Park. In addition to traditional outsourcers, many other companies dispersed around the world will be able to get the HTP resident status (for example, crypto-instruments from China where the ICO was recognized outside law, can relocate to Belarus). In addition, such expansion can stimulate the real sector of the Belarus economy to implement high-tech projects, related not only to software development, but, for example, by attracting investment through ICO tools.

Implementing a hi-tech project but are non-resident? You are the match for Belarus' HTP!

Now the preferential regime granted to standard HTP residents can be also used by legal entities of the Republic of Belarus who are not residents of the Park, but who are implementing (or planning to implement) business projects in the field of new and high technologies in the areas of the Park's activities.

The activities of these companies may not be limited to just software development and IT outsourcing.

For these purposes, you need to to register a project planned for implementation (or which is already being implemented) in the HTP.

Current HTP registration procedure in brief

It is necessary to submit a package of documents to the HTP Administration, including a statement in the prescribed form, copies of corporate documents (charter and / or state registration certificates), including their originals, a business project itself, as well as the calculation of the number of employees directly involved in its implementation).

The latter calculation is necessary, since the income of employees (directly involved in the project) received from a non-resident under an employment contract will be taxed at a personal income tax rate of 9% rather than the usual 13%.

Photo: park.by