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17 april 2023

Changes in the Hi-Tech Park activities

On 12 April 2023, the Edict of the President No. 102 “On the Development of the Hi-Tech Park” (hereinafter referred to as the Edict) was signed.

The changes mainly affect the internal structure of the Hi-Tech Park bodies. The Administration of the Hi-Tech Park is to be reorganized by accession to the Hi-Tech Park Supervisory Board to the Secretariat being created. The Hi-Tech Park management company is to be appointed by the Council of Ministers of Belarus.

Other significant changes:

  • The term for consideration of documents for registration as a Hi-Tech Park resident is extended to 2 months. This term may be extended by 30 calendar days if a scientific and technical examination of the submitted documents is required.
  • The decision of the Hi-Tech Park Supervisory Board on registration as a Hi-Tech Park resident comes into force on the first day of the month following the month in which the corresponding meeting of the Supervisory Board is held. Previously, the term was not defined.
  • Hi-Tech Park residents are to notify of a change in ownership of property or a change in the list of founders (shareholders) no later than 10 business days before the entry into force of an agreement providing for such changes.
  • The procedure for providing gratuitous (sponsorship) aid to healthcare institutions, organizations of physical culture and sports by Hi-Tech Park residents is changed. Gratuitous (sponsorship) aid may be provided to these organizations for purposes independently determined by the parties in an agreement concluded between them. Previously, the aid could be provided only for the purposes determined by the Edict of the President dated 1 July 2005 No. 300.

The main provisions of the Edict come into force from the day an entry on the termination of the activities of the Hi-Tech Park Administration in connection with the reorganization is made in the Unified State Register of Legal Entities and Individual Entrepreneurs.