Bitcoin and ICO go legal in Belarus!

Crypto community, big news from Belarus! Law on crypto currency that will get Belarus in the number one of countries that regulated crypto currency, just been adopted. We’ve just read. Casual Saturday day 🙂 And we are starting. My name is Roman Shpakovsky. I am a lawyer from Belarus. I specialize in regulatory and tax matters. But first I need to explain what High Tech Park is. Most of the provisions of the new Law does not apply to every company in Belarus. Now it acts like a sandbox. Most of the regime related to crypto currencies, currencies exchanges, tax provisions, related only to the residents of High Tech Park. It requires about six months and a reasonable business plan, an acting company with reputable management, with reputable shareholders. The Law also have some very good news very good for Belarus IT sector. Some part of “English law” could be used in Belarus for HTP residents such as reps and warranties, convertible loans, non-solicitation, non-compete. Lower tax on dividends for Belarus individuals who own companies in HTP. It is 9 per cent. Startups, that are not HTP residents could use convertible loans. Previously it was not possible. HTP companies are not only outsource companies now. It was awaited for a long-long-long time. Now also product companies could become a resident of HTP park. It is promised that the process of admission to HTP will be more straightforward. Previously it could take up to a year to get a decision. Big news for you, crypto guys, who involved in trading, receiving bitcoins and any other cryptocurrencies. In Belarus, for five year basically you may trade currency, receive bitcoins, exchange various tokens and will not be liable. If you are not resident of Belarus I mean, tax resident, you should consult your local tax advisors. If you want to move to Belarus and become a tax resident of Belarus it will require you 183 days to be physically present in Belarus. 1 million question… What about ICOs? YES They are legal! They should be conducted via residents of the High Tech Park. You do not need to be a resident of the High Tech Park to perform an ICO, to receive money for your tokens, cryptocurrency and ‘fiat’ money. And there will be no tax at all! What is even more important for you, guys, is that this Law sets up a legal obligation. Your ICO just became a very legal. You may request audit of Big 4, you may get an approval of a reputable law firm, an accounting company. And I expect that it will increase the probabilities that your ICO will succeed. Also, very important for ISOs – – smart contracts are legal! The Law is signed now, but will become active only in 3 months. If you like this video, please, subscribe to this channel. We will post developments as soon as they appear. Belarus crypto to the Moooon!

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