Updated at 18:07,08-09-2017

Belarus and Hong Kong agree to abolish visas

BelarusFeed via TUT.BY, BelTA

Belarus and Hong Kong agree to abolish visas
Photo credit: Belarusian Embassy in China
Following a meeting between a Belarusian delegation headed by First Vice Prime Minister Vasily Matyushevsky and with the Head of Administration of Hong Kong Special on Monday, 16 January, sides have reached an agreement on mutual visa abolition.

The agreement will come into force after the completion of internal procedures in Belarus and China, the Belarusian Embassy in China reports.

According to experts, the abolition of visas between Belarus and Hong Kong will greatly enhance business and tourism exchanges between the two countries.

Another outcome of the Monday’s meeting is an agreement on avoidance of double taxation and prevention of income and capital tax evasion. In accordance with it, the dividend and interest rate is set at 5%, royalty rate – from 3 to 5%, the rates on other operations are not specified.

A present Belarusians pay $30 for a visa to Hong Kong. Citizens of Hong Kong will be able to take advantage of 5-day visa-free entry to Belarus starting Ferbuary 2017.

The delegation led by First Deputy Prime Minister of Belarus Vasily Matyushevsky is in China’s Hong Kong on a visit on 16-18 January. Members of the delegation are expected to meet with representatives of the business and financial circles of Hong Kong.

A visit to the Hong Kong Stock Exchange and the investment forum Belarus Calling Hong Kong will be arranged.