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Open a mining company

This article discusses the main problems affecting the education of data centers required for cryptocurrency mining. This topic will be of interest to both citizens of Belarus and foreign citizens.

The legislation governing the field of cryptocurrency mining in the Republic of Belarus is due to the following procedure.

- The territory on which the activity takes place may belong to an individual and be his private property. However, when exchanging cryptocurrency, you must confirm the legality of your work, namely, provide documents for electricity and equipment used. Such requirements can be presented by banking organizations and the tax office.

The cost of opening a mining company
Opening a mining company From 2800 Euro (€)

- Legal entities cannot start activities until the registration of documents with the Park of High Technologies. Before that, you can only equip the room with appliances. However, there is nothing difficult in this procedure. We will tell you more in more detail.

The following algorithm of actions has been developed for legal entities.
1. Assess the profitability of mining in Minsk.
2. Create a company in accordance with applicable law.
3. Purchase or lease areas for conducting business, conclude a contract for the provision of electricity.
4. Provide the activity with the necessary equipment.
5. Make the selection of the necessary personnel.
6. Develop a business strategy.
7. Register in the Hi-Tech Park.

Now let's talk about the steps in more detail. This information will be useful to you in organizing and formalizing your activities.

Assess the profitability of opening a mining company in Belarus

It should be noted that this activity has earned its approval from the government. Based on economic data, the influx of individuals into this field of activity is very high. The large advantages for the population were the absence of taxation in this industry and low prices for electricity sold to individuals.

However, the activity of large organizations is currently very poorly developed. That is why our organization has taken on a major business project. Our conditions allow cryptocurrency market players to provide their activities very profitably. This is facilitated by the conditions provided by the government of Belarus.

- Low tariffs for electricity supply not only for private individuals, but also for legal entities. The only condition for a profitable offer for a legal entity is joining the Hi-Tech Park.

- Legal entities are given the opportunity to import equipment without customs fees. Again, a condition for a legal entity is entry into the High-Tech Park.

- Low tax rates if the legal entity observes the same conditions.

Creation of a mining company in accordance with current legislation

The government of Belarus does not complicate the registration procedure for foreign legal entities and individuals. Also, the paperwork takes place as soon as possible.

Acquisition or lease of space for conducting business, concluding an agreement for the provision of electricity

On the territory of the country, you can find a huge number of free premises for conducting business. The premises may already be equipped with the necessary capacities, especially if the lease is divided with an already operating organization. If the necessary equipment with electricity is not available, then in most cases it is possible to build a station. This point must be taken care of in advance so as not to waste time obtaining permits and placing the necessary facilities.

Providing mining activities with the necessary equipment

It was mentioned earlier that it is very profitable to import equipment into the country due to zero customs rates. It is desirable that the equipment be fairly common so that there are no problems with its identification. Also, the equipment can be purchased on the territory of the country, in this matter, our company will provide you with all the necessary assistance.

Selection of the necessary personnel

Mining has been developing in Belarus for more than one year. With this in mind, it is not difficult to find professionals in this field of activity. Our company will also assist with the selection of a specialist. It is also possible to hire foreign persons, due to the existence of the High Technology Park, this procedure does not require special documents.

Registration in the Hi-Tech Park

As mentioned above, without joining the Hi-Tech Park, the activities of legal entities in this area are impossible. However, this membership comes with many favorable conditions.

Registration can be done in parallel with other stages of founding an activity. Our company will help you at all stages, from registration to the full launch of activities. Thanks to our help, the terms of launching your activity will be shortened as much as possible, and all stages will be passed without problems, since our company has the necessary experience.

For professional legal advice, call +375291102388 or e-mail: info@legaltime.by.

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