Requirements for residents to join the TASED “Naberezhnye Chelny” have been lowered from 2020

The corresponding Decree on simplification of conditions for companies that claim to become residents of TASED was signed by Russian Prime Minister Dmitry Medvedev at the end of December 2019. The document provides for the reduction of threshold requirements for the minimum amount of capital investments of a potential resident from 50 million to 20 million rubles, at least 2.5 million rubles of which should be investments of the first year of the project. At the same time, a prerequisite is still the creation of new jobs - at least 15 (instead of 30, as it was before).

New residents will qualify for a series of support measures. In particular, during the first five years of operation, they will have access to a profit tax rate reduced to 5%, in the next five years this rate will be fixed at 12-13%. In addition, companies will be exempt from land tax and property tax. Reduced rates of insurance premiums will remain, as before, available only to companies that have received resident status within three years from the date of the establishment of TASED.

In addition, the Decree that has entered into force expands the list of permitted OKVED (All-Russian Classifier of Activity Types) for TASED “Naberezhnye Chelny”: now companies in the IT sector can conduct their activities here. It is expected that these innovations will help to attract new residents to the territory of advanced economic development.