The Ministry of the Russian Federation for the development of the Far East and the Arctic has started accepting applications for the status of a resident of the Arctic zone.
The Ministry started accepting applications from potential investors who want to get the status of a resident of the Arctic zone of Russia.
There is an option to register online on the site arctic-russia.ru. In a personal account on the site, investors will be able to work out the application, form a set of documents correctly, and then become a resident of the Arctic zone and get the full set of privileges (tax benefits and non-tax preferences) for doing business.
Legal entities and individual entrepreneurs who are registered in the Arctic and plan to launch a new investment project or other types of economic activities with a capital investment of at least one million rubles can become residents of the zone. At the same time, the company should not have tax and fee debts that would exceed 25 percent of the book value of assets. It should not be at the stage of bankruptcy, liquidation, or reorganization.