Bashkortostan simplified requirements for potential investors
The authorities of Bashkortostan presented to investors a new program of work with investors, which significantly simplified the requirements for new projects to receive state support. The innovations made it possible to eliminate bureaucratic barriers, optimize regulatory procedures, as well as digitize the process of project support.
The liberalization of investment legislation implies the exclusion of a number of requirements that prevented some investors from receiving state support measures for the implementation of investment projects.
In particular, the requirements are excluded:
- to the minimum investment volume, which previously amounted to 100 million rubles,
- to confirm the sources of financing,
- to the data on the budget efficiency of the project,
- to the salary level.
Liberalization also affected the timing of regulatory procedures. So, the deadline for reviewing applications before submitting projects to the "Investor" should now take no more than 30 days. The number of stages of approval of state support measures has also decreased, and the investment project will now be considered in one appeal.
Innovations have also significantly reduced the number of documents provided.
Now potential investors need to provide the following set of documents:
- Investor's declaration,
- Presentation materials,
- Information about engineering and transport infrastructure facilities (if the project provides for obtaining the specified support measure).
Basic requirements for investment projects:
- The company must be registered in Bashkortostan.
- The initiator of the project is not an NGO created with the participation of the Russian Federation, a subject of the Russian Federation or a municipality, a credit, insurance or clearing organization, a professional participant in the securities market.
- The project should correspond to the priority directions of the development of the region's economy, except for housing construction, insurance activities, commercial real estate (exceptions are management activities of ORC, wholesale markets, industrial (industrial) parks, agro-industrial parks, industrial technoparks or SEZ, as well as activities at retail and entertainment facilities) 4. The amount of state financial support does not exceed 30% of the cost of the investment project.
As support measures, investors can receive:
1. Tax benefits
- Income tax,
- Exemption from property tax,
- Investment income tax deduction.
2. Provision of subsidies for reimbursement of part of the costs of creation, reconstruction, modernization of capital construction facilities of engineering and transport infrastructures.
3. Support in the field of land and property relations
- Preferential rental with a decreasing coefficient,
- Provision of land plots without bidding.
Note that this innovation has no analogues throughout Russia. Thanks to the liberalization of investment legislation, state support measures will become available not only to large and medium-sized businesses. Such a mechanism will be able to stimulate entrepreneurs to implement various investment projects in Bashkortostan.
