5 advices for fresh HTP members

All HTP companies need to know this

When the ethereal of being a newly-minted HTP member is over, you have to face your daily grind/ We’ve prepared a number of advices for HTP newcomers

Provide thorough control of your switching to the HTP privileged regime

You can use your privileges immediately after the Supervisory Board has awarded you the HTP resident status. And remember that adoption of HTP privileges is a hot time for your accounting department. Please note that as from the first day of the month when your company has been registered as an HTP resident, you can no longer use the USN system and must switch to the OSN system instead (for instance, if your company had been using USN and entered the HTP on June 7, the period from June 1 to June 6 must be accounted under the OSN system). Also, consider the Social Security Fund (SSF) remission — it is not applied automatically. You must obtain your employees’ consent thereto, and your employees may reject the option (cl. 34 of the HTP Regulation). Your employees’ personal income tax will be 9% as from the HTP entering date. This applies only to employees, that is persons engaged under employment agreements. Hi-Tech Park’s SSF and income tax privileges do not apply to contractors under civil law contracts (for works and/or services).

Run Due Diligence for your revenue-yielding contracts

If you had not performed due diligence before your HTP accession, then you have your ‘last chance’ right now. Any breaches in your revenue profile may result in your expulsion from the HTP and/or punitive measures. To avoid it, just review all your contracts prior to HTP entry and make sure that subject matter of each contract complies with your business activities as declared in your business project. All ‘non-profile’ activities must be immediately deleted, as such activities will be treated as unauthorised after your HTP entry.

New types of activities

After your HTP entry you may only carry out those types of activities that have been declared in your business project (section 2.2). If you are going to pursue any new activity (because you desire to investigate a new activity, you have new clients or orders, etc.), you will have first to declare them as your additional activities. Prior to carrying out any activity not declared in your business project initially during registration, you will have to file a new project with a new activity. You may pursue your new activity only after the Supervisory Board has approved your new project.

Watch over how your financial outlooks are implemented

If you were realistic and rational when compiling your business project and had a sensible view of your current state of affairs, you will most probably have no problems with this task. However, keep in mind that the financial outlook on the business project’s results is one of the markers used in assessing the importance of your business project for the IT sphere. If your expectations were too high when you entered the HTP park, and further on your company as an HTP resident regularly fails to reach the predicted values, this may lead to your company’s expulsion from the Hi-Tech Park.

Read your business plan, the HTP Regulation, the HTP Administration Agreement over again, and prepare some check lists

This may seem trite, but this is how it is. Owners and managers shall treat these documents as their desk books. Everything declared in your business plan shall be strictly abided by, otherwise you may be expelled from the HTP. The Hi-Tech Park is not only a place of privileges, it charges residents with additional duties too. All resident’s obligations and duties are set forth in the HTP Regulation and are subject to additional refining in the HTP Administration Agreement. In order to avoid omitting essential circumstances you might compile check lists (addressees of notifications, terms and subject matter of notifications, timeframes for remitting 1%, etc.).