Sitel company (trade name VibroBox) became a resident of High Technologies Park in Belarus

Since October 2019, VibroBox is a resident of the High Technology Park (HTP) in Belarus.

Here are some benefits of being a resident of HTP (also see a more detailed summary from Revera law firm):

  • Exemption from all corporate taxes, including VAT, income tax, and customs duties.
  • 9% individual income tax for employees and significant benefits for payments to the Social Security Fund.
  • Benefits in international economic activities.
  • Visa-free entry and temporary residence permit for foreign founders and employees.
  • The ability to use certain institutions of English law, for example, a convertible loan, option and option agreement, non-competition agreement, as well as a possibility to use foreign law for shareholder agreements.
  • The ability to use Smart Contracts to complete and/or execute transactions (think of automated factories where VibroBox is a key element in maintenance and operations). By the way, Belarus is the first country in the world that legalized smart contracts at the country level.
Aliaksandr Aliashkevich, company director, and Maxim Varchenya, Head of the Resident Registration Department of the HTP

Aliaksandr Aliashkevich, company director, and Maxim Varchenya, Head of the Resident Registration Department of the HTP

High Tech Park Resident Registration Certificate (in Russian)

High Tech Park Resident Registration Certificate (in Russian)