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The Industrial Park in Belarus

The Industrial park is a territorial entity with the area of approximately 80 sq. km with a special legal status for the provision of comfortable conditions for business conducting.

Industrial park is situated in Smolevichy district, Minsk region, in the distance of 25 km from Minsk, the capital of the country, and occupies about 80 sq. km. Advantageous geographic position is stipulated by the close vicinity to Minsk National Airport and international highway M1 which extends to Moscow on the north (the distance of 700 km), and to Berlin on the south (the distance of 1000 km) as well as it has access to Klaipeda seaport in the Baltic Sea (the distance of 500 km).

On the Park territory production and living areas, offices and shopping malls, financial, and research centers are planned to be located. 

In fact, a modern international eco-city is being built with an emphasis on high-tech and competitive innovation productions with high export potential.

The project is developed within the framework of the China-Belarus intergovernmental cooperation and the relevant signed intergovernmental agreements.

Any company regardless of country of capital origin can act as a resident of the industrial park.

Realizing intense competition for an investor in the world market, the state has created a favorable investment climate for industrial park residents, as guaranteed by the national law, special international agreements and obligations; has provided unprecedented benefits and preferences, has formed a separate and independent body which carries out administrative end-to-end servicing on the basis of “one stop” service.

Industrial Park has the following preferences according to the special Decree of the President of the Republic of Belarus as of June 5, 2012:

  • “10+10” preferential taxation: exemption from all corporation taxes during the first 10 years since the day of registration as a Park resident and reduction of current tax rates by 50% during the subsequent 10 years;
  • Park residents exemption from customs duties and VAT on goods imported to Belarus for use in investment projects implementation in the Park;
  • regime of a free customs zone that gives the right to import goods (raw stock, materials) without payment of customs duties (customs, VAT, excise duties) subject to further processing and export outside the countries of the Customs Union;
  • benefits for employees of companies operating in the industrial park: rate of personal income tax is fixed and comprises only 9% that is by 25% less than in Belarus;
  • Park residents, as well as foreign employees are exempt from compulsory insurance contributions from their wages fund. Mandatory insurance contributions are not charged from income of Park residents employees with Belarusian citizenship to a part of income in case such a part exceeds one-time amount of the average wage in the country;
  • in full VAT deduction paid at acquisition of goods (works, services, property rights) used for design, building and equipping of buildings and facilities in the Park; 
  • exemption from tax on dividend income accrued for the founders for 5 years from the year of gross income origin of a Park resident;
  • and others.

When new taxes and fees are established on the territory of the Republic, obligation to pay such taxes and fees for Park residents does not arise.

Coming to the Park an investor receives a ready transport and engineering infrastructure conducted to the selected land plot. Construction of infrastructure in the Park and its connection with investor facilities is provided by the management company.

In order to use the best practices on the territory of the Park opportunity to design according to technical standards of foreign countries is provided in case they meet the requirements for operational safety, reliability of the main design decisions, fire and explosive hazardous facilities.

An investor can get land plots for use (lease) on the territory of the Park for the period of 99 years or own the said land plots. Rent and sale of land plots is carried out by the management company.

 

At present design works are being carried out; in the second half of the year 2013 construction of the main transport and engineering infrastructure is scheduled to be started. At the very moment land plots are being chosen for potential investors for the purpose of design (“binding to the locality”) of specific objects.