Much less red tape at Belarus High-Tech Park starting from 2018

Much less red tape at Belarus High-Tech Park starting from 2018

The Belarusian President has signed the decree On Digital Economy, where the High-Tech Park (HTP) is the focal point. The decree on the development of digital economy in Belarus was dubbed Decree on HTP 2.0.

In terms of de-beurocratization   the Decree provides for the following simplifications of working conditions for HTP residents:

- the permissive procedure for opening accounts with non-resident banks is canceled;

- the procedure for making settlements using electronic money is simplified;

- it is permitted to conduct, with the notification procedure, currency transactions related to the movement of capital;

- HTP residents are given the right to make primary accounting documents solely during economic transactions with non-residents;

- formalize homogeneous economic transactions with one primary accounting document;

- use as a primary accounting document the document issued by a non-resident and drawn up in English;

- legislation on conducting and monitoring foreign trade operations, including requirements for the timing and methods of completing foreign trade operations, does not apply to foreign trade operations involving HTP residents

MORE: Full decree analysis and its innovations