The Industrial Park "Great Stone" is a 91,5 square kilometer zone next to Minsk and the Minsk national airport, where special investment laws apply and where investors can enjoy significant tax- and other benefits. As per its name, the park is meant for industrial production businesses (e.g.
electronics, fine chemistry, biotechnology, mechanical engineering and new materials) and is currently the most important investment project of the Belarusian state along with the High-Technology Park (HTP) in Minsk.
Investors from anywhere are welcome in the park, it's not just for Chinese business, although the name Great Stone may sometimes be misleading (Great Stone is actually just the name of the place upon which the park was established). Chinese investors do however constitute a large part of the park's members right now as the park is a hub in China's Belt and Road initiative. Other members are from the USA, EU, Israel and Russia.
To become a resident of Great Stone, a company must establish a legal entity within the park, fill out an application and provide an illustration of the rationale of their investment and future business. The business area must comply with the park guidelines and the investment size must be at least $ 500.000. The park administration will review the documents and make a decision.
The benefits enjoyed by member companies of the industrial park include:
- A full exemption from profit tax for 10 years, and afterwards profit tax at half rate
- Zero real estate tax
- Zero land tax
- Zero dividend tax for 5 years from the first accrual and an exemption from offshore duties
- 9 % personal income tax (instead of 13 %) and significantly reduced social security contributions
- Possibility to enjoy exemptions and/or reduced rates for customs duties and VAT in certain cases
If you would like our help in establishing your business in Belarus and the Great Stone industrial park, feel free to contact us for more details!
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