The new decree simplifies the work of IT companies in the country.
President of Belarus Alexander Lukashenko signed a decree "On the development of the digital economy". In particular, the document legalizes mining and operations with crypto-currencies in the country.
Individuals will now be able to officially own tokens and crypto-currencies, and also to mine, store, change, buy and sell for Belarusian rubles, foreign currency or electronic money, as well as donate and bequeath tokens. Mining and the sale of tokens are not considered entrepreneurial activities.
Yurlitsa will be able to issue their own tokens through resident companies of the Belarusian High-Tech Park (HTP, a special economic zone for the development of IT companies). Also, they will be able to buy and sell tokens through crypto-exchange exchanges.
The decree provides for several more provisions that should simplify the work of IT business in the country. For example, HTP residents will be able to hire foreign citizens without special permits, and such employees and founders of HTP residents will be able to enter the country without visas.
As a legal experiment, HTP residents will be able to enter into convertible loan agreements, option agreements, agreements with employees on non-competition and other documents. The decree establishes tax incentives for IT companies, and also partially relieves foreign organizations that sell advertising to HTP residents - this rule should simplify the purchase of advertising from Google, Facebook and other companies.
Get the status of the HTP resident will now be able to companies that deal with the training of neural networks and other algorithms of artificial intelligence, crypto-currencies and mining, advertising on the Internet and e-sports. The list can be supplemented in the future.
According to the President of Belarus Alekasandr Lukashenko, the document will help attract foreign IT companies, create new personnel, and introduce the latest financial instruments. "Belarus becomes in fact the first state in the world, which opens wide opportunities for the use of blockade technology. We have all chances to become a regional competence center in this field, "he said.
