12 August 2022

Investors implementing projects in the Arctic get an expanded access to preferential loans

The decree of the Government of the Russian Federation dated July 14, 2022 came into force. It enables getting preferential loans for entrepreneurs implementing investment projects in the Far East and the Arctic zone of Russia. The document is published on the official website of the Government of the Russian Federation.

The decree eliminates the requirements set for the total volume of investments and the minimum number of new jobs when implementing an investment project. The document reduces the possibility of disrupting investment projects due to sanctions. Previously, the company had to invest at least 1 billion rubles in the project and create at least 250 jobs in order to get a preferential loan.

Preferential loans are issued for the development of infrastructure and production facilities in various industries. Industry, transport, power industry and different projects in the territories of advanced development make a top priority.

We should outline that the Russian Arctic is the largest economic zone with an integrated set of tax and administrative preferences for investment activities. Currently, 15 residents are implementing their projects in the Arctic zone of the Krasnoyarsk Region, while the total investment volume makes more than 36 billion rubles. Yenisey Siberia Development Corporation works with residents of the Arctic zone as a managing company.

You can apply for the status of a resident of the Russian Arctic at the investment portal of the Arctic zone of Russia. When registering, applicants should give the basic parameters of their project. Then the applicants get an access to their personal account where the documents required for getting  the status of a resident of the Russian Arctic are presented.