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Minsk is a city for investments

Минск – город для инвестиций

The investment climate of the city is one of the best in the CIS and favorable on the public background.

Minsk took the 4th place in terms of economic efficiency doing business in the nomination "European Cities and Regions of the Future 2018/2019" of the prestigious rating conducted by the Financial Times magazine’s division - "Di Intelligence". In 2016, Minsk in the framework of this rating closed the top ten European cities in terms of the best strategy for attracting foreign direct investment, losing to such large business centers as London, Amsterdam, Vienna, Milan. 

On average, over the past five years, foreign direct investment in the amount of about 7 billion US dollars is annually attracted to the economy of Minsk, which is more than 80% of the direct foreign investments received throughout the Republic. On average, nearly $ 1 billion of foreign direct investments are attracted on a net basis. The share of the capital in their total volume in the country is more than 50%. Minsk receives investments from more than 80 countries in the world.

Investors are attracted by developed industry, construction, the financial sector, trade, real estate, and the service sector. It is in Minsk in the long term that a large international financial and business center will appear as part of the multifunctional complex "Minsk-Mir", which will become the basis of the world-class financial services infrastructure (banking, insurance, financial, consulting).

 Advantages of investing in Minsk:

1. advantageous geographical position;

2. a single market of the Eurasian Economic Union;

3. political and economic stability, low crime rate;

4. highly qualified workforce and scientific and technical potential;

5. developed infrastructure;

6. incentives for investors (free economic zone, high-tech park, regional technology park, investment agreement);

7. developed an international legal framework for regulating investment activities and protecting investments.

In particular, international legal acts regulating the implementation of investments in the territory of the Republic of Belarus include: 

1. The Convention on the Settlement of Investment Disputes between States and Individuals or Legal Entities of Other States (Concluded in Washington, March  18, 1965, the date of signing by the Republic of Belarus - July 10, 1992, the date of entry into force - August 9, 1992);

2. The Convention on the Establishment of the Multilateral Investment Guarantee Agency (Concluded in Seoul on October 11, 1985, the date of signing by the Republic of Belarus – August 13, 1992, the date of entry into force – December 3, 1992), including:

  • Agreement between the Government of the Republic of Belarus and the Multilateral Investment Guarantee Agency on the legal protection of guaranteed foreign investments;
  • Agreement between the Government of the Republic of Belarus and the Multilateral Investment Guarantee Agency on the use of local currency;

Минск – город для инвестиций

3. Convention for the Protection of Investor’s Rights (Concluded in Moscow on March 28, 1997, the date of ratification by the Republic of Belarus is November 11, 1997, the date of entry into force is January 21, 1999).

4. Appendix No. 16 to the Treaty on the Eurasian Economic Union (Signed in Astana on May 29, 2014, the date of ratification by the Republic of Belarus – October 9, 2014, the date of entry into force – January 1, 2015).

5. Agreements with 71 countries on the avoidance of double taxation;

6. Agreements with 68 countries on the promotion and mutual protection of investments.

The Decree "On establishing a visa-free entry and exit procedure for foreign citizens", which entered into force on July 27, 2018, allows citizens of 74 countries to stay in Belarus without a visa for 30 days. Visa-free entry to Belarus applies to European countries (together with the European Union), as well as Brazil, Indonesia, the USA, Japan, and other states. Visa-free visits are provided upon entry through the Minsk National Airport. Another 25 countries have a visa-free regime regardless of the place of border crossing (including with 10 CIS countries for an unlimited time).

Besides, foreign investors who have made investments of at least 150 thousand Euros in investment projects in Belarus are granted early permanent residency rights in the Republic of Belarus.

Our initiatives to improve the legislation allowed Belarus to take the 49th place among 190 countries of the world in the Doing Business – 2020 World Bank ranking.

In the Republic of Belarus, work is going on to improve the business climate. Of the latest innovations, the most significant are the following.

The main regulatory and legal acts aimed at improving the business and investment climate in the country         

1. Decree of the President of the Republic of Belarus dated August 6, 2009 No. 10

A significant incentive for the arrival of investments is the Decree of the President of the Republic of Belarus dated August 6, 2009 No. 10 which provides for the institution of a special investment agreement with many benefits and preferences for the investor.

According to the law, an investor who has concluded an investment contract has the right to: 

  • parallel design and construction;
  • selection of a general design and construction organization without bidding;
  • provision of land without auction

Investors are also exempt from: 

  • fees for the right to conclude a lease of land;
  • land tax (or rent) for the provided land for the period of the project;
  • customs duties and VAT on technological equipment;
  • fees for attracting foreign labor;
  • compensation for the cost of removed objects of the plant world, etc.

On November 12, 2015, a new version of Decree No. 10 was adopted - Decree No. 8, which entered into force on May 12, 2016. This edition contains a lot of important innovations for investors of which we can note: 

  • the obligation of the investor to notify the state in writing about the reorganization, change of ownership or composition of the investor at least two months before their implementation and the state’s right to object to these changes and unilaterally withdraw from the contract;
  • the right to complete construction work after the termination of the investment contract without an investment contract and benefits (with the provision of land without an auction and making land payments);
  • providing without auction not only the lease rights but also property rights to land plots;
  • the right to installment plans or annulment of penalties and the cancellation of compensation by an investor of benefits and preferences.

2. Decree of the President of the Republic of Belarus dated November 23, 2017 No. 7

On February 26, 2018, the Decree of the President of the Republic of Belarus dated November 23, 2017, No. 7 "On the Development of Entrepreneurship" came into force. It aims at improving the conduct of business and the investment climate in the country.

This Decree establishes the following innovations aimed at liberalization and simplification of entrepreneurial activity: 

  • A list of types of economic activity is established, for the beginning of which a principle of notification is introduced.
  • A moratorium has been introduced on raising tax rates and introducing new taxes, fees (duties) until 2020.
  • Coordination with the executive committees of the operation of shopping facilities, public catering and consumer services, outdoor and transport advertising has been cancelled. 
  • It is allowed to use certain types of premises for other purposes, repair in rented premises, including without obtaining permission from the executive committee.
  • The requirements for the procurement of goods (works, services) established by law are not applied during construction without raising funds from the republican or local budgets.
  • It is allowed to carry out the development of pre-project (pre-investment) documentation without a certificate of conformity for this type of activity.
  • When commissioning an object, it is allowed to receive state authorities' opinions solely on the subject of compliance of the said objects with permits and other documentation.
  • Business entities have the right when developing technical specifications for products (work, services), to independently determine the validity period of the technical conditions developed by them (changes in them) for products (works, services); not to coordinate these technical conditions (changes in them) with state bodies.
  • The list of cases of compulsory sanitation and hygiene (excluded in cases of the construction of social, industrial, transport and engineering infrastructure) and environmental expertise has been reduced.
  • The number of fire safety requirements has been reduced by more than 12 times.
  • A five-year statute of limitations has been introduced on requirements for the payment of taxes, fees (duties) and other obligatory payments to the budget.

3. Decree of the President of the Republic of Belarus dated December 21, 2017 No. 8

Several innovations provided for by Decree of the President of the Republic of Belarus dated December 21, 2017 No. 8 "On the Development of the Digital Economy" significantly expand the opportunities for doing business in the IT sector,  including: 

  • creating a legal basis for the circulation of digital currencies and tokens based on blockchain technology;
  • introduction of separate institutes of English law for residents of the High-Tech Park (smart contracts, convertible loan, option and option agreement, agreements on non-competition and prohibition of luring, compensation for property losses);
  • simplification of the procedure for hiring qualified foreign specialists;
  • new activities of residents of the High-Tech Park: the development of biotechnologies, medical, aviation and space technologies, e-sports;
  • simplification of the regime of conducting currency operations for residents of the High-Tech Park.

Preferential investment regimes

High Technology Park

Парк высоких технологий

Since 2005, a High-Tech Park has been successfully operating in Minsk, the residents of which are engaged in software development (Decree of the President of the Republic of Belarus of September 22, 2005, No. 12).

The High-Tech Park is a uniquely favorable environment for the development of information technology business in Minsk, in which unprecedented tax benefits are combined with the presence of well-trained specialists for the IT industry.

In addition to IT-companies, companies that engage in educational activities related to ICT can become a resident of the park; research in the field of natural and technical sciences; the development of new materials, technologies, devices and systems of micro-, opt- and nano-electronics, micro-electromechanics, mechatronics; radar, navigation, communications; production of high-tech devices and computers; aviation, space, medical and biotechnology.

HTP residents are exempt from all corporate taxes, including value-added tax, income tax, and customs duties. Individual income tax for employees of the Park resident companies has a fixed rate of 9%.

The attractiveness of HTP lies not only in tax benefits but also in knowledge, innovations, as well as highly qualified specialists. Belarusian specialists participate in IT projects of any complexity, starting from system analysis, consulting, selection of hardware and ending with the design and development of complex systems. They undergo training and certification in training centers of IBM, SAP, Oracle, Microsoft, and another world IT leaders.

The legal regime of HTP is valid throughout the Republic of Belarus. You can register as a resident and use all the advantages of HTP regardless of where your Belarusian company’s office is located: from the regional center to a small settlement. This allows you to fully use the educational, research, professional and infrastructure potential of the whole country.

Today, more than 750 companies are residents of the High-Tech Park.

More than 90% of the software produced in the Park is exported to more than 65 countries.

In 2019, HTP exports amounted to about $ 2 billion. 

The Free Economic Zone "Minsk"

Свободная экономическая зона Минск

The Free Economic Zone "Minsk" (FEZ "Minsk") was founded in 1998. The territory of the FEZ "Minsk" is 2,791.45 ha, of which 1,047.79 ha are within the city of Minsk.

The main goals and objectives of the FEZ "Minsk":

  • the attraction of foreign and domestic investments;
  • creation of export-oriented and import-substituting industries, the introduction of modern technologies;
  • economic and social development of the territory of the FEZ, creation of new jobs. 

As elsewhere in the world, the Free Economic Zone regime provides enterprises with the opportunity to work in special concessionary conditions.

Resident enterprises of the FEZ "Minsk" enjoy such benefits as:

  • exemption from income tax for 10 years, subsequently - 50% of the rate established by law;
  • exemption from real estate tax;
  • obtaining a land plot without auction;
  • exemption from payment for the right to conclude a land lease agreement and the absence of land rent for the design and construction period (no more than 5 years).

A Belarusian and / or foreign legal entity and / or individual entrepreneur registered by the administration of the FEZ "Minsk" may become a resident of the FEZ "Minsk" in the manner prescribed by law.

More than 120 enterprises with Belarusian and foreign investments operate in the Free Economic Zone "Minsk". And this figure is constantly growing.

Since the creation of the FEZ "Minsk", resident enterprises have built more than 40 modern plants.

Minsk City Technopark

Минский городской технопарк

The Minsk City Technology Park was created to provide systematic support to Minsk enterprises in the implementation of innovative projects.

The residents of the Minsk City Technology Park are provided with the following benefits and preferences:

  •  leasing on preferential terms of premises for various purposes and technological equipment;
  • tax benefits;
  • assistance in the implementation of innovative projects;
  • creating favorable conditions for doing business in the high-tech field;
  • providing support to start-up innovative companies.

The area of ​​the site on which the technological park is located in 5.5 hectares; the total area of ​​buildings and structures for various purposes is about 60 thousand square meters. Besides, the technological park has an opportunity to rent other areas necessary to accommodate residents with the right to sublease them.

During the period of the Minsk City Technological Park, there has been a specialization of residents' activities in priority areas of innovative development:

  • applied optical-electronic and laser technologies, information protection systems, recognition of tangible and intangible objects, electronic control systems of various levels and profiles, security systems;
  • technologies in the field of aircraft building and navigation;
  • chemical and biological, pharmacological and nanotechnology;
  • manufacture of medical, rehabilitation equipment and devices;
  • manufacture of electrical distribution equipment and devices;
  • technologies in the field of purification of industrial environments;
  • technologies in the field of energy and resource conservation.

As part of the Minsk City Technology Park, more than 35 resident enterprises operate.

Investment offers

Инвестиционные предложения

More than 30 sites for the provision of investors through the auction.

More than 50 sites to provide investors according to investment contracts.

Other investment proposals requiring an investor search.

You can find more detailed information about investment offers on the website of the Minsk City Executive Committee in the Investment Atlas section of Minsk, including:

Contact Information

AHRAMENKO Nikolai Adamovich
Head of Investment Department 218 00 62

SIDOROV Vadim Georgiyevich
Deputy Head of Investment Department 218 00 46

ZHILINSKY Piotr Andreyevich
Head of Investment Coordination of Investment Management Department 218 02 67