This article provides step-by-step instructions on how to become a resident of the HTP (Hi-Tech Park) of the Republic of Belarus. A separate article on our website will acquaint you in detail with the benefits that companies that have joined the HTP receive.
Advantages of joining HTP:
- The Hi-Tech Park creates excellent conditions for business development for its residents. This is confirmed by the fact that after the foundation of HTP, the profession of a programmer in Belarus has received serious development. The difference in remuneration between specialists employed in the IT sector and employees of other industries is significant. Over the past decade, the best minds of the country have gone to work in this area. This trend continues to this day and will only strengthen in the future. HTP is not only a financial haven for promising startups, as in the vast majority of offshore companies. The park comprehensively approaches the creation of optimal conditions for the promotion of aspiring entrepreneurs.
- Belarus is often classified as a state with a so-called transition economy. But this does not mean that it is considered a third world country. Modern infrastructure has been created on the territory of the Republic of Belarus, the level of corruption is low, the banking system works without interruptions.
- Tokens, including the most popular cryptocurrencies, are officially recognized and allowed in the Republic of Belarus. And this is a rarity in world practice. Also, the country has extended preferential allowances for workers employed in the field of high technology until 2023. This can really be considered a unique phenomenon.
Financial benefits of joining HTP
Some types of entrepreneurship implemented within the framework of HTP require large financial injections. Therefore, first of all it is necessary to assess the economic risks. Applicants for the role of a resident of the Hi — Tech Park can be very conditionally divided into the following categories:- Software developers. Such firms develop software according to the technical specifications of a foreign customer.
- Service companies. They serve the interests of more than one customer. And they even have a sales department. This is a necessary measure, since the development of the enterprise is impossible due to the fulfillment of orders only from old customers.
- Companies engaged in product development. Not only do they create their own software, but they also reserve copyrights to the software. In the future, they sell customers the opportunity to use the software on a licensed basis. The buyer pays money for it.
- Exchanges and exchange offices of cryptocurrencies. So far, few people are engaged in this type of activity in the Republic of Belarus. To get such a status, huge financial resources are needed.
Registration of a legal entity in HTP
Only legal entities can join the Hi-Tech Park. HTP registration must be carried out in accordance with the regulatory acts of the Republic of Belarus. As a rule, companies have to create a new legal entity. But it doesn’t have to be newly created. A company may arise in the process of a merger, acquisition or other type of reorganization. Not only its citizen, but also a foreigner can register a legal entity in the country. However, in this case, certain difficulties may arise. Who should act as the founder of the HTP resident? Most often, a resident forms a legal entity in the form of a limited liability company. LLC registration is the recommended way to create a legal entity to join the HTP.Development of a business plan
In order for a company to be accepted into HTP, it is not enough to properly formalize it legally. The decision to include the company in the park is made based on the analysis of the applicant’s business project for residents. The project should include a detailed description of the development path that the company will follow after its admission to the HTP. The project should describe a possible development scenario, ways to attract financing, an overview of the sales markets that the company wants to enter, the advantages of the product over competitors, and more.Provision of documents to the Hi-Tech Park
The day when you have to submit papers to the HTP can be reserved by yourself. It must be agreed with the administration. You need to submit the following list of documents:- The application in which you ask to assign the HTP resident status to the company. The application form is established.
- Business plan.
- The text of your company’s charter (a copy of it is provided in stitched form).
- A document confirming that the company has passed state registration (a copy of the certificate).
- An agreement concluded with the managing organization.
- Duplicate of the balance sheet. It is necessary for a more detailed study of the calculations given in the business plan.