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Protect from sanctions: Special administrative regions will appear in the Crimea

In order to promote the socio-economic development of the region and support investors, the Ministry of Economic Development of the Russian Federation has developed a draft law that will define a special legal regime on the territory of the Republic of Crimea and the federal city of Sevastopol.

According to the Head of the Republic of Crimea Sergey Aksyonov, according to the bill, it is planned to fix special administrative regions that guarantee the confidentiality of information contained in the unified state register.

"I note that the participant of the special administrative region can be a new or existing legal entity implementing an investment project on the territory of the Republic of Crimea and the federal city of Sevastopol, and the shareholders or founders can be both residents of the Russian Federation and non-residents. However, investment should be made only in the form of capital investment on the peninsula and in the minimum amount of 150 million rubles, and the projects must be associated with the development of existing and creation of new industries and infrastructure projects, development of health resort and tourist industry", - said the Head of the Crimea.

Sergey Aksyonov is convinced that special administrative regions are a new effective tool for attracting investment and accelerating the socio-economic development of the youngest regions of Russia.

"The draft law, designed to resolve the issue of confidentiality, is of particular importance for the Republic of Crimea as a tool for eliminating factors that limit the investment potential of our region. - the Head of the republic specified. "Let me remind you that the peninsula also has a Free Economic Zone (FEZ) with unprecedented preferences for its participants: a special regime for conducting business, preferential taxation, the application of the customs procedure of a free customs zone, and a number of other significant benefits for business," stressed the Head of the Republic.