How much do Astana Hub participants save per year thanks to preferential treatment?
According to Startup Genome, 9 out of 10 startups fail in their first year. To avoid being one of those 9 startups, it's important to minimize overhead costs. Here are the main expenses:
Tax payments. Startups typically pay around 30% of their income in taxes each year. However, all Astana Hub participants are exempt from paying corporate income tax, value-added tax, individual income tax (for resident employees of the Republic of Kazakhstan), royalty tax, social tax (which allows exemption from payment for foreign employees), and so on.
Office rent. The average monthly rent for an office in Nur-Sultan is $20 per square meter (around $2000 per year), but the technology park provides workspace to startups participating in acceleration programs.
PR services. Startups typically pay an average of $1200 per year for articles/publications in media and social networks, but the technology park offers free PR services.
Accelerator participation fees. The average cost of participation in training programs and workshops is between $800 and $10,000, but all training courses are free at the technology park. Expert consultations. The cost of individual case analysis and recommendations from experts typically ranges from $50 to $3000, but these services are also provided free of charge at the technology park.
In addition, the international technology park for IT startups, Astana Hub, located in the capital of Kazakhstan, provides tax and visa incentives, modern infrastructure, access to the IT community and networking, PR support, and a free workspace. The park has an area of 20,000 square meters.
When relocating to another country, startups face high prices for airfare, accommodation, and visa services, as well as the challenge of learning a new language. Unlike European countries, Kazakhstan is attractive due to its geographic proximity, similarity in mentalities, language (Russian is the official language of Kazakhstan), and the ability to receive free preferential treatment.
To obtain further details on establishing an IT enterprise in Astana Hub, please go by the following link.