The law on state support for business became effective
Any Russian enterprise that launches a new project or type of activity in the Arctic regions can obtain the status of a resident of the Arctic zone.28 2020
What benefits does it provide?
1. 10-year profit tax relief (except for mining projects)
2. 10-year compensation for 3/4 of insurance premiums for new jobs (excluding mining projects)
3. 12-year mineral extraction tax relief for projects in the field of mining and processing of solid minerals.
4. Land tax and property tax relief.
5. Obtaining land plots without bidding.
6. The possibility of creating a free customs zone on the site.
7. Protection from redundant unscheduled inspections by supervisory authorities.
8. Qualified defence in court in case of disputes with authorities.
9. The possibility of obtaining soft financing from credit institutions.
10. Targeted support and assistance in solving any problems from the federal ministry.
The price of the 'admission ticket' is only RUB 1 mln of investments in the Arctic.
It is very easy to obtain this status:
Step 1. Register your personal account on the website arctic-russia.ru Registration will take a maximum of several hours.
Step 2. Create a simple set of documents, including a business plan for the project. The requirements for it are as simple as possible.
Step 3. Submit the whole set electronically through your personal account.
The decision on the assignment of resident status will be made within 10 days.
Welcome to the Arctic zone of Russia!