Simplified Document Management for HTP Residents – Business Partners of Foreign Companies

The products created by companies and individual entrepreneurs who are residents of the Hi—Tech Park are in demand outside Belarus from foreign companies. This brings foreign exchange earnings to residents of the Hi-Tech Park, but may raise issues of registration of contracts and primary accounting documents. The document flow adopted when doing business between residents of Belarus is not always clear to foreign partners and is often not suitable for doing business in the field of high technology with foreign partners. We understand the simplified procedure for processing documents for HTP residents — business partners of foreign companies.

Features of concluding contracts with non—resident companies by residents of the Hi-Tech Park

When doing business between residents of Belarus, relations are most often formalized by a paper contract, which is signed by representatives of each party to the contract. Residents of the Hi-Tech Park are not required to sign a paper contract with a non-resident.

An offer to conclude a contract can be sent to a non-resident (or received from a non-resident) in the form of a program code, an electronic message via electronic communication, etc.. It is not necessary for such a message to have an electronic signature of the representative of the company that sent it. Such an offer is called an “offer”. Usually, the offer sets a period during which the company receiving the offer must perform certain actions listed in the offer — these are the terms of the contract. After the deadline for fulfilling the terms of the agreement ends, the offer may be considered invalid. The company that received the offer fulfills the terms of the contract within the period specified in it — this is called “acceptance” and, as a general rule, the contract will be concluded and executed.

The main requirement for the offer is that it should be clear from it which company, the individual entrepreneur sent the contract proposal, is a party to the contract.

The offer may be public. For example, it is publicly available on their company websites. The public offer includes the user agreement, program code, etc. The main thing that should be in the public offer is the terms of the contract and the offer to conclude a contract on these terms with anyone who responds.

There is a nuance: when, under an agreement with a non-resident, a resident of a High-Tech Park receives or transfers goods that need to be processed through customs, declared, placed under customs control, customs authorities often require a contract drawn up on paper.

Features of registration of primary accounting documents by residents of the Hi-Tech Park when doing business with non-residents

The procedure for registration of primary accounting documents by residents of the Hi-Tech Park when doing business with non-residents differs from the procedure that applies between residents of Belarus. The procedure has been simplified for residents of the Park.

For example, residents of the Hi-Tech Park have the right to individually draw up a primary accounting document, on the basis of which a business transaction with a non-resident is reflected in the accounting. This is an accounting certificate or a calculation certificate. There are requirements for the content of such a certificate: in it you need to write, in particular, the name of the resident of the Hi-Tech Park, the position of the employee who is responsible for the business operation, the signature of this employee will be required, the data of the contract under which the operation is performed and its monetary or in-kind assessment. You do not need to sign this document with a representative of a non—resident company.

Such a document, which is drawn up individually, does not have to be drawn up for each business transaction with a non-resident. When a resident of a Hi-Tech Park makes several homogeneous transactions in one calendar month, they can be issued with one primary accounting document. Such a primary document must be drawn up no later than the 20th day of the month following the one in which money was received from a non-resident several times or goods were sent to him several times, services were provided or work was performed for him.

Non-residents often confirm the transaction with online checks and other documents in a foreign language. Such documents can be used in accounting. The main thing is that they contain the definition of a business transaction, its assessment and the date of completion. A resident of the Hi-Tech Park only needs to translate the documents into Russian and independently certify the translation.

How to contact us

For more information or advice, do not hesitate to contact us. We are here to help and support you.
Phone and e-mail communication options are available for your convenience:

  • +375293664477 (WhatsApp/Telegram/Viber);
  • info@spex.by.
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