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Investment Opportunities

23rd of May 2013

Incude some benefits for investors who start or doing business in Russia.

One of the opportunities for foreign investments in Russia is public procurement. For the purpose of improving the procedure of procurement, the authorities of Russia developed a website where public orders and other relevant information are published. On http://zakupki.gov.ru you can find all the orders for goods and services placed by federal and regional authorities of Russia.

Ministry of Economic Development of Russia has worked out a Map of Investment Opportunities in order to provide detailed information on investment projects and proposals in Russia.

The description of other investment opportunities and investment support measures can be found below. 

Special Economic Zones
One of the tools used to stimulate investments in Russia are so-called Special economic zones (SEZ) which are based in Russian regions that offer unique advantages to investors.

Special economic zones (SEZ) are territories a state bestows with special legal status and economic benefits to attract domestic and foreign investors to Russia’s industry of priority.

Systematic development of special economic zones in Russia began in 2005 once the Federal Law on SEZ was adopted on July 22, 2005.

The objective of creating special economic zones is to develop the hi-tech sectors of the economy, import-substituting production, tourism and health resort and treatment services, to develop and manufacture new products and to expand transport infrastructure.

To promote high-tech industries, the state creates very favourable conditions for SEZ residents.

Special treatment includes the following advantages:

• Relations with governmental regulatory authorities become as simple and transparent as possible due to the ‘single window’ system

• Investors enjoy state-built infrastructure for business development, which reduces costs of launching new production facilities

• The free customs area status implies major customs privileges

• A number of tax benefits are offered

Investment Fund of the Russian Federation
Large infrastructure and innovation investment projects, which have both national and regional importance and are carried out under the framework of public-private partnership, receive state support from the funds of the Investment Fund of the Russian Federation.

The Rules of Budget Allocation of the Investment Fund of the Russian Federation determine the policies and selection of projects eligible for receiving budget financing from the Investment Fund of the Russian Federation.

State support based on the funds of the Investment Fund of the Russian Federation comes in the following forms:

Co-financing for investment projects under agreement terms with the registration of ownership rights in Russia
Contributing funds to legal entities' share capital
Providing state guarantees to investment projects.
The minimum cost of a project eligible for budget allocation from the Investment Fund of the Russian Federation is RUB 5 billion.

The government committee on investment projects of national importance has approved 21 investment project using funds from the Investment Fund of the Russian Federation. The total amount of investment into these projects will exceed RUB 1 trillion, with approximately 30% of the money coming from the Investment Fund.
Russian Venture Company
Russian Venture Company (OJSC RVC) was created to facilitate state support in the area of implementation of capital investment projects.

The purpose of OJSC RVC is to stimulate the creation of the venture investment industry in Russia. The share capital of OJSC RVC was contributed from the funds of the Investment Fund of the Russian Federation in 2006-2007.

In 2007, OJSC RVC participated in the creation of three new venture funds with aggregate capital of more than RUB 8 billion. In 2008, two venture funds were formed; five more are expected to appear. The aggregate capital of seven venture funds to be formed between 2007 and 2009 will amount to almost RUB 19 billion.

In total , OJSC RVC will contribute to the creation of 10 to 15 venture funds with aggregate capital of approximately RUB 30 billion. These funds will provide venture capital for up to 200 new innovative companies.

In addition, on 9 August 2006, OJSC Russian Investment Fund of Information-Communication Technologies was created, whose share capital in the amount of RUB 1.45 billion will be financed with funds from the Investment Fund of the Russian Federation.

Skolkovo is a Russian “territory of innovation” located 30 km west of Moscow, where an unprecedented legal regime is established in order to minimize administrative barriers and tax burden for resident companies.

Skolkovo is to become an innovation hub that will stimulate innovative entrepreneurship and disseminate entrepreneurial culture across the country to integrate Russia into the global economy by:

1.fostering advancement of human capital in Russia and by attracting foreign specialists and creating conditions for local innovative talent development

2.creating globally competitive products and services based on cutting-edge research

3.establishing global innovative companies in Russia

In order to attract internationally recognized specialist, leading institutions and businesses Skolkovo offers:

No VAT for up to 10 years if profit is less then USD 10M/year and turnover is under USD 30M/year
No income tax if profit is less then USD 10M/year and turnover is under USD 30M/year
14% unified social tax rate for residents
Refund of import customs duties and VAT expenses paid during import to the RF customs territory.
OECD tech regulations apply