IT companies register in Minsk – Kommersant FM
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Russian IT companies are interested in offices in Minsk. At the end of 2023, the number of vacant spaces in the Belarusian capital decreased from 20% to 12% compared to the beginning of the year, Forbes writes, citing analyst data. This is mainly due to demand from Russian technology companies and government agencies. In particular, on April 15 it became known that Tinkoff (MOEX: TCSG) closed the largest lease deal on the local market for 10 thousand sq. m. m for your own IT hub in the region. Why has Minsk become in demand among Russian technology companies? Vladislav Viktorov will tell you.
Before the outbreak of hostilities in Ukraine, Minsk was a convenient starting point for IT specialists who wanted to cooperate with foreign companies. The local technology cluster was in demand among foreigners due to low tax rates and the experience of its workers. However, corporations began to gradually leave Belarus and remove employees immediately after the presidential elections in 2020; the process finally ended in 2022.
The specialists who remained in Minsk now work mainly for Russian companies. Moreover, it is more profitable to work from the Belarusian capital, shared Evgeniy, who moved there from Moscow six months ago: “If you work as a freelancer, then the tax system here is a little different. The rest is pretty much the same.
There are a lot of companies that work with the Russian market. In terms of salaries, the average story is approximately the same as in Moscow. I just like Minsk as a city much better.
In general, it is easier to live here, because it is smaller than the Russian capital, and prices here are lower even in the most prestigious residential complexes or areas. In Moscow, I would say, the service and technology are better.”
In the middle of last year, Russian IT companies began to gradually move to Minsk, which affected the commercial real estate market. If previously local organizations only exchanged large offices for more modest ones, which caused the amount of vacant space to grow, then at the end of 2023 the number of vacant premises decreased – in December the figure was about 12%.
This year, Tinkoff Bank alone closed a lease deal for 10 thousand square meters. m for your IT hub. It will be located in the very center of Minsk, in a building that belongs to Sber’s subsidiary, the Elite Estate company. According to some estimates, the group’s annual expenses can reach almost €2 million. However, this is still more profitable than opening an office in Moscow, Denis Kuskov, CEO of the analytical agency Telecom Daily, is sure:
“The things that the company has been doing over the past few years require the active presence of IT specialists, and therefore this direction of development seems logical. Price characteristics play a role. In addition, Belarus is known for its good IT personnel. Again, the labor market there is a little smaller in terms of salaries. In Moscow, all this is very expensive.”
As stated in a press release from Tinkoff Bank, during the three years of the group’s presence in Minsk, 600 people were employed at the local development center. Now the company plans to increase the number to 2 thousand employees within several years. And given the shortage of personnel in Russia, it would be logical to replenish the staff with local specialists, noted Roman Dimenko, director of the Spb-Dev company: “This is beneficial for Russian companies in terms of hiring employees remotely due to the fact that there is an option for optimizing taxes.
It makes sense to look for specialists in Belarus for Russian projects, because the situation in the Russian Federation is also ambiguous. Many have left, and not everyone can work remotely, because a number of companies have corresponding restrictions.”
In turn, Russian IT specialists are more interested in other areas. At least, according to Kommersant FM, since the beginning of the year, their demand for residence permits in Europe has increased by 233%. Domestic programmers are afraid of market isolation, the lifting of the moratorium on inspections and criminal liability for data leaks. Therefore, 80% of those who wish would like to hide from this, for example, in France, another 10% in Italy.
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