The State Duma Committee supported the draft law on simplification of obtaining the status of a SEZ resident

Deputy Minister of Economic Development of Russia Sergey Galkin at a meeting of the State Duma Committee on Economic Policy presented draft laws on amending the federal law on special economic zones (SEZ) and on amending the tax code of the Russian Federation. The proposals were supported by the State Duma committee.

“The draft law proposes to simplify the procedure for obtaining the status of a SEZ resident, simplify the administration of the SEZs themselves and combine several types of SEZs. For the creation, management of the SEZ and the transfer of certain powers, a single document will be concluded between the Ministry of Economic Development, the management company, the region and the municipality. This will reduce the time by several months,” Sergey Galkin said.

The Deputy Minister also noted that the draft law proposes to replace the business plan with an investment project passport when applying for residency.

“Such “flexibility” of the mechanism will make it possible to make a decision on an investor in 15 days instead of the current 40. At the same time, the importance of fulfilling agreements for residents is growing – there is a restriction on the purchase of a land plot. The investor will receive the right to buy out the site only in case of construction of an object specified in the agreement on it,” the Deputy Minister emphasized.

In conclusion, Sergei Galkin noted that it is proposed to merge industrial-production and technology-innovative types of zones into industrial-technological ones and reduce the number of types from 4 to 3.