The field of information technology and communications is one of the fastest growing sectors of modern society. Nowadays it covers all aspects of human activity, hence it is a necessary tool for the successful activity of each company. Internet resources, mobile phones and applications, computer graphics and processing of data arrays – all this and much more is information technology.
Favorable conditions for the development of any IT campaigns in our country were set in September 2005, when President of the Republic of Belarus signed Decree No. 12. According to this document, the High Technology Park (High-Tech Park) was created and the legal basis for its effective functioning was laid. Among other things, the official residents of High-Tech Park were exempted from paying taxes on real estate, profits and other obligatory payments to the republican budget. Other benefits include exemption from customs duties and VAT on the import of goods or equipment necessary for activities, as well as income tax on employees reduced to nine percent. All these preferences were provided to residents of the High-Tech Park involved in the development and implementation of information and communication products and software. Initially, the decree was in force until 2020, but recently it was extended to the year 2049, plus the decree was supplemented by special conditions on the development of digital economy, which immediately made Belarus attractive for companies and investors involved in Blockchain projects and crypto currencies.
Such measures have taken significant effect. Today Belarus is a top exporter of IT technologies (in terms of per capita) in Eastern Europe, and is among the top 10 in the world. Since the implementation of the above legal acts, the export of IT services and software products has increased by more than 40 (forty) times. Belarusian developers supply software and IT services to the world’s largest corporations and organizations: Samsung, HTC, Rosenergoatom, RAO UES, London Stock Exchange, Coca Cola, Toyota, Google, British Petroleum, Procter & Gamble, etc.
All these achievements have led to a significant increase in investments in the development of the IT industry in Belarus, as well as an increase in the creation and registration of comanies specializing in this field. It is worth pointing out the main advantages of doing business in the field of information technology:
- No need for production facilities. Since the basis for obtaining the final product is exclusively knowledge and experience.
- The ever-growing demand for IT services and software.
- No significant start-up capital is needed to create a company and start a business. As mentioned above, the basis of activity is knowledge and intellectual skills, while computers and graphic stations, even the most powerful ones, are relatively cheap.
- Ability to work remotely. A rather important aspect, which allows not only to manage the entire project remotely, but also to hire the best specialists (freelancers) around the world.
If you are thinking of starting an IT business in Belarus, yet don’t know where to start, our team will advise you on any issues related to IT business in Belarus. With more than 7 (seven) years of experience in advising IT companies in this field, you can count on receiving high-quality legal assistance on any issues.
