China-Belarus Industrial Park “Great Stone”
As a result of cooperation between the Chinese and Belarusian Republics, an agreement was reached on the creation of an industrial park that has a special legal regime and provides comfortable business conditions. Legal entities from all over the world can become residents of this park. However, their investment projects must comply with the main priorities of the park.
Favourable conditions for investors are guaranteed by national legislation and a number of international agreements.
In addition, a social infrastructure is being created in the park: residential buildings, socio-cultural, shopping and entertainment, sports facilities.
A kind of high-tech and research multinational city has been created.
What is the "Great Stone"
The Great Stone is a modern city that includes manufacturing, financial, scientific centers, residential, office and shopping centers, where the main features are the unprecedented benefits provided by the state to residents of the park and high-tech innovative companies.
Location of the Industrial Park
The location for the Great Stone industrial park was not chosen accidently; the park is located close to the Minsk National Airport (5 km) in the Smolevichi district of the Minsk region and only 25 km from the capital.
Park Management Structure
The management structure of the park has three levels:
- Intergovernmental Coordination Council – assists in resolving issues within the competence of the governments of both countries, sets strategic goals and carries out coordination work of the park.
- Administration of the industrial park – the state institution, whose main tasks are the overall management of the park, attracting investors, the full service of all entities of the park, registration of residents. The administration is directly subordinate to the government of the Republic of Belarus.
- Industrial Park Development Company –attracts investors, manages land on the territory of the park (leases or alienates the property to residents and investors of the park), designs park properties, provides consulting services.
- OJSC “CAMCE China Engineering Corporation";
- China National Sinomach Engineering Corporation;
- China Merchants Group;
- Harbin Investment Group;
- State Institution “Administration of the China-Belarus Industrial Park “Great Stone Industrial Park”;
- Duisburger Hafen AG.
The activity of the industrial park is mainly aimed at the development of the following areas:
1. mechanical engineering;
2. electronics and telecommunications;
5. new materials;
8. electronic commerce;
9. processing and storage of large volumes of data;
10. socio-cultural activities.
The legal regime of the China-Belarus Industrial Park
The legal status of the China-Belarus Industrial Park is regulated in Decree of the President of the Republic of Belarus №166. This decree is aimed at improving the legal regime of the park, creating a comfortable and attractive environment for investors, establishing tax and other benefits.
The Advantages of the Great Stone
The industrial park provides favourable conditions for business and investments, has a number of undeniable advantages:
- Location near the airport and only 25 km from Minsk, while the social and engineering infrastructure covers all the needs of residents.
- Opportunity to obtain a land plot fully equipped with ready-made infrastructure, both for rent and for private ownership.
- Tax benefits.
- All administrative procedures for the “one station” system are performed on the territory of the industrial park, which allows them to be carried out in a short time. If it is necessary, representatives of state departments themselves come to the territory of the Great Stone.
- The possibility of applying the free customs zone procedure and the importation of goods as a part of investment activities without paying customs duties.
- Benefits in attracting workers who are citizens of foreign countries - reduced time when considering the permit issue, exemption from payment of contributions to the Federal Social Security Service for foreign workers.
- Various benefits for the construction of real estate.
How to become a resident of the Great Stone?
In order to register as a resident of the Great Stone industrial park, it is necessary to comply with the requirements for residents and contact the department for working with residents and investors of the Park Administration by providing a package of documents.
The list and samples of documents required for registration as a resident of the Great Stone industrial park can be found on the official website:
1. Application for registration as a resident.
2. Copies of constituent documents and state registration certificates.
3. Justification of the investment project.
4. The draft agreement on the conditions of business activity in the industrial park.
All documents must be certified and signed by authorized persons.
Mandatory requirements that must be completed by business entities in order to register as residents of the industrial park:
1. The location of the legal entity shall be in the territory of the industrial park.
2. The business entity creates and implements an investment project in accordance with the main directions of the park, as well as carry out the research, development and experimental-technological work.
3. The volume of investments in the implementation of the project at least 5 million US dollars, and when implementing the investment project for the research, development and experimental-technological work - at least 500 thousand US dollars.
The state registration of a business entity as a resident of an industrial park is carried out within 5 business days from the day following the day when the documents were submitted. When making a positive decision, an agreement is concluded; the day of conclusion of this agreement is the day of registration of the company as a resident.
Tax incentives for residents of the Great Stone
The legal regime of the industrial park provides a number of tax benefits for residents:
- the income tax rate for employees is 9% (valid until 2027); Calculation of contributions to the Social Security Fund is calculated based on the average salary in the Republic of Belarus;
- income tax on the sale of goods of own production is 0% from the date of registration of the resident and over the next 10 years, then 9% over the next 10 years, which is 50% of the generally established rate;
- income tax on dividends - 0% from the moment of profit and the next 5 years;
- real estate tax is 0% from the date of registration of the resident and over the next 10 years, then 0.5% over the next 10 years, which is 50% of the generally established rate;
- land tax - 0% from the date of registration of the resident and during the next 10 years, further 1.4% for the next 10 years, hereinafter 2.8%.
Customs incentives for residents of the Great Stone
It is possible to import foreign goods, materials, raw materials using special benefits or with exemption from paying taxes and without paying VAT, as well as using goods in the production process and selling the final product on the territory of the customs union without paying customs duties .
Other preferences for residents of the Great Stone
Other preferences for residents of the industrial park include exemption from compulsory sale of foreign currency until 2027, as well as the possibility of its use between residents of the Great Stone and contractors - residents of the Republic of Belarus.
The procedures for getting work permits to foreign citizens have been accelerated, exemption from payment of a fee for issuing such permits, as well as exemption from payment of contributions to the Social Protection Fund for foreign workers.
A number of benefits are also provided for the construction of industrial park facilities: a simplified procedure and the possibility of parallel design and construction of facilities, exemption from tendering.
The Great Stone and the EAEU
Residents of the Great Stone industrial park are guaranteed the possibility of duty-free import of goods to the countries of the Eurasian Economic Union (Belarus, Russia, Kazakhstan, Armenia, Kyrgyzstan). Within the EAEU, the free movement of goods, services, labour, capital is guaranteed.
Services for investors "Great Stone"
The park has a department for working with investors and residents, where you can apply for the following services:
- Various consulting services (on the policy and investment environment of the park, the choice of land and construction of buildings, on the preparation of certificates and design projects, etc.)
- Booking of hotels and air tickets, organization of events.
- Advertising and making gifts.
- Conducting tours in Belarus.
You can apply for the service both by phone and by filling out an online application.
Innovation Center "Great Stone"
In the center of the industrial park there is an innovation center, which is a four-story building that allows you to place modern experimental laboratories of promising scientific and technical startups. Support for young companies is provided by the China-Belarus CJSC “Industrial Park Development Company”.
Photo: zviazda.by, tilde.com, promoter.by, yandex.net