Investment Portal of the Arctic Zone of the Russian Federation

Chekunkov Announced that the Number of Residents in the Arctic Zone of the Russian Federation Nearly Reached 800 Organizations

The total investment amounted to approximately RUB 2 tn.

21 March 2024

The number of residents in the Arctic zone of the Russian Federation is nearing 800 organizations, with total investments of about RUB 2 tn. This was reported by Aleksey Chekunkov, head of the Ministry for the Development of the Russian Far East, during a work trip to Karelia, according to TASS.

The minister pointed out that measures proven effective in the Far East are also being implemented in the Arctic. "In some cases, they are even more aggressive in a positive sense, as shown by investor dynamics," he added.

The preferential regime of the Russian Arctic zone extends to all nine Arctic regions. These regions are subject to special tax and administrative regulation regimes. For instance, AZRF residents enjoy benefits such as 0% profit tax for 10 years and 0% land tax for the first 3–5 years (excluding NAA and Krasnoyarsk Territory).

Residents can utilize a free customs zone procedure on developed and equipped sites, import and use foreign goods without paying customs duties and VAT. Russian goods are placed and used subject to excise duties without paying export customs duties.


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