High Tech Park (HTP) in Belarus and cryptocurrency regulations

High-tech Park was created by the President of the Republic of Belarus in 2005. Nowadays with more than 200 HTP resident companies it’s annual turnover is more than 1 billion US dollars.

In accordance with the Decree of the President the main activities of HTP are:

export of information and communication technologies, new and high technologies, exclusive rights of intellectual activity in the field of new and high technologies;
assistance in attracting domestic and foreign investment in the development of high technologies;
promotion of innovative development of the national economy, the development of education in the field of information and communication technologies;
background foundation, enabling innovation, including promotion of venture financing, the development of start-up movement.
Main advantages of HTP:

Technology companies that become residents of the Park are free from all taxes, including VAT, profit tax, and customs duties. Individual income tax is fixed at 9 % for the employees of resident companies.
Big list of activities that HTP residents can carry out such as mining, cryptocurrency exchange, software development etc.
No need to get work permits for foreign employees;
HTP residents can open bank accounts in foreign banks.