Three more companies in the Murmansk Region become residents of the Russian Arctic Zone
Over the course of the year, 57 Murmansk projects received resident status, including private entrepreneurs.13 July 2021
MNK, POLARCTIC and Sever Inn, all based in the Murmansk Region, have become residents of the Arctic Zone of the Russian Federation, according to the official website of the Government of the Murmansk Region.
According to Olga Kuznetsova, Deputy Governor of the Murmansk Region, 57 Murmansk projects have received resident status this year, including private entrepreneurs. This confirms that preferential terms are available to small businesses.
MNK's investment project, Retinskoe Quarry, is being implemented with the government's support. Retinskoe Quarry will produce building stone. With a total investment of almost RUB 3 bn, the project will create 34 new jobs.
POLARCTIC will establish a construction services provider. The project's total investment is RUB 60 mn. According to the project's business plan, it is set to create up to 1,000 new jobs.
Sever Inn is working on a tourism project. The company is planning to build a hotel in Kirovsk (Parkovaya Street).
The status of a Russian Arctic Zone resident comes with a number of preferential terms, including tax preferences. At the moment, any entrepreneur registered in the Arctic and willing to implement a new investment project worth at least RUB 1 mn can become a resident.