Due to its restructuring through integration into the State entity known as the “Secretariat of the Supervisory Council of the High Technology Park,” the HTP Administration’s operations came to an end on August 4, 2023, when an official entry was made in the Unified State Register of Legal Entities and Individual Entrepreneurs of Belarus.
Transition to Full Implementation
The provisions listed in the President of the Republic of Belarus’s Decree No. 102, dated April 12, 2023, “On the Advancement of the High Technology Park,” are now completely in effect as of this date. These changes have affected the HTP’s internal structure and organization and added more clarity to the processes specified in the HTP Regulation.
Administrative Transfer and Oversight
The HTP Administration is now affiliated with the Supervisory Board Secretariat. As a result, the HTP Administration’s duties, rights, and responsibilities—which were outlined in Decrees No. 12 and No. 8—have been assumed by the Secretariat, including oversight.
This practical change means that notifications, appeals, and other papers that were previously sent to the HTP Administration should now be sent to the Secretariat on behalf of HTP residents.
The Secretariat’s Multifaceted Role
The Secretariat is responsible for a number of tasks, including the analysis and assessment of HTP activities, the provision of methodological and explanatory support to applicants during the documentation preparation process for resident registration in the HTP, the scientific and technical evaluation of business projects, and the examination of resident activities and results to ensure compliance with approved HTP activities.
HTP Management Company’s Role
In addition, plans call for the creation of the HTP Management Company, which will direct the HTP’s continued organizational, strategic, and growth trajectory. This involves working with foreign partners to attract investment and engage in international collaboration.
Empowering the HTP Management Company
In order to carry out its assigned duties, the HTP Management Company is granted various privileges, including the capacity to carry out educational initiatives involving information and other cutting-edge technologies, as well as the access to data about business ventures and HTP residents’ accomplishments and other significant records necessary for the performance of its functions.
It is important to remember that HTP Management Company information that is considered official, proprietary, or otherwise legally protected secret is typically not disclosed.
Streamlined Resident Status Process
Significant modifications have also been made to the process for acquiring resident status in the HTP. On the first day of the month that follows the pertinent supervisory board meeting, decisions made by the HTP Supervisory Board regarding the registration of an applicant as a HTP resident or the approval of new or additional business projects take effect.
It is anticipated that this specific clarification will help all parties involved determine with certainty when the relevant decision and its legal ramifications go into effect.
An additional procedural modification concerns the duration of document processing for resident registration in HTP (approval of new or additional business projects) and the subsequent Secretariat adoption of a suitable decision. A new requirement has been added, requiring HTP residents to notify the Secretariat in line with established protocols no later than ten working days prior to the date on which a contract involving property ownership changes or changes to the founders’ or participants’ composition of a HTP-resident legal entity takes effect.
HTP residents are essentially now obliged to take these particular timelines into account when organizing mergers and acquisitions (such as the buying or selling of company shares), figuring out the dates on which pertinent agreements go into effect, and describing the steps involved in transferring ownership of the shares or equities that each HTP resident owns.
Expanding Support Initiatives
Additionally, as mutually agreed upon by the parties in the assistance agreement, residents of the HTP are now authorized to voluntarily (sponsoredly) assist educational, healthcare, physical culture, and sports institutions. This is a continuation of their prior rights and is consistent with their pledge to assist different industries for specific goals.
In conclusion, the reorganization and changes promise a new era for the Hi-Tech Park, emphasizing its adaptability and commitment to growth and innovation. Our company specializes in helping IT sector organizations to master the opportunities provided by HTP.
How to contact us
If you need help finding employees in Belarus or need additional information in this area, do not hesitate to contact us. We are here to help and support you personally.
Phone and email communication options are available for your convenience:
- +375293664477 (WhatsApp/Telegram/Viber);