On January 1, 2015 the Federal law dd. 29.11.2014 No. 377-FZ “Development of the Crimean Federal District and the free economic zone on the territory of the Republic of Crimea and federal city Sevastopol” entered into force.
The free economic zone one is created for 25 years, with the possibility of period extension, and provides special conditions for performing of entrepreneurial and other activity, including concessional taxation and free economic zone custom procedure.
Business entity can become a participant of FEZ, if it is registered on the territory of federal city Sevastopol, registered in tax body and has submitted an investment declaration in compliance with requirements, stipulated by the active legislation.
The following documents shall be submitted for obtaining the status of free economic zone participant:
1) Declaration on conclusion of agreement concerning activity performance in free economic zone;
2) copies of charter documents (for legal entities);
3) copy of state registration certificate of legal entity or an individual entrepreneur;
4) copy of certificate concerning registration in tax authority;
5) investment declaration in form, stipulated by the executive body, authorized by the Government of the Russian Federation.
Investment declaration shall include the following information:
1) the goal of investment project;
2) types of activity;
3) technical and economic feasibility of the investment project with indication of planned number of workplaces and the amount of an average salary;
4) total volume of capital investments of the investment project and, in particular, stipulated amount of capital investments during the first three years from the date of conclusion of an agreement on carrying out business activity in the free economic one in the amount of:
-not less than 3 million rubles for small and medium business entities (up to 250 people and up to 2 bln. rubles a year without VAT);
-not less than 30 mln. rubles for other business entities.
5) scheduled plan of annual capital investments in the first three years of investment project implementation;
6) implementation plan of the investment project on the territory of the federal city Sevastopol.
After consideration of submitted documents a decision about conclusion of an agreement concerning business activity in free economic zone or refusal to conclude such agreement with indication of grounded reasons is made.
Participants of FEZ cannot perform activity in the sphere of subsurface use, prospecting, field development of continental shelf and mining operations.
On 14.04.2016 functions of the body on the function operation of the free economic zone were assigned to the Department of priority projects for development of Sevastopol
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