The Belarus High-Techonology Park or HTP was established in 2005, and is now one of the fastest growing high technology clusters in Eastern Europe. The park's goal is to support the Belarusian software industry, and it offers significant incentives for investors to do so. The park has just under 400 member companies, and about 200 of those have been registered so far in 2018, as the park is experiencing growth that is unpredecented in its history.
Approximately 40 % of companies in the park are of Belarusian origin, 25 % are joint ventures and 35 % are fully owned by foreign investors. Over 90 % of the park members' services output is sold as export into foreign markets. Russian, European and North American companies are the big buyers.
Companies can become members of the HTP by qualifying through submitting a business plan to the park authorities. Their area of business must be IT or engineering. Companies new to the market will be glad to hear that otherwise the company establishment process is the same as with normal companies. The HTP has an official territory, but companies don't have to work within its limits to qualify as members.
Membership benefits include:
Once per month we will send you an article keeping you up to date with the latest trends and developments in accounting, taxation or legal fields.