Loans for Arctic zone residents

Loans for Arctic zone residents

September 24, 2020

The Ministry for the Development of the Russian Far East agreed with the Ministry of Finance the size of the interest rate.

The loans for the Arctic zone residents will be subsidized by the state. According to Deputy Minister for Development of the Far East and the Arctic, Alexander Krutikov, the subsidy mechanism will start working in 2021, and the amount of subsidies will be 6.75 percent.

According to Krutikov, in the future it is planned to prepare a number of mechanisms to support investors who are ready to become residents of the Arctic zone. He also noted that one of the most important support mechanisms he considers the decree signed by Russian Prime Minister Mikhail Mishustin on subsidizing insurance premiums, according to which the final rates for residents of the Arctic zone will be 7.5 percent instead of 30, and for small businesses – 3.75 percent instead of 15.

Recall that in July, the Federation Council approved a package of laws on the system of preferences in the Arctic, and the president signed it. According to the documents, the entire Russian Arctic becomes a special economic zone with an area of ​​almost five million square kilometers. And any entrepreneur registered in the Arctic who is ready to implement a new investment project and invest at least a million rubles in it will be able to obtain the resident status, and with it a number of tax benefits and non-tax preferences. Also in the Arctic zone there is a free customs zone procedure.

As the This Is Taimyr previously wrote, the acceptance of applications for obtaining the status of a resident of the Arctic zone started in August. The first applications came from the Arhangelsk and Murmansk regions.

Text: Olga Polyanskaya, Photo:

September 24, 2020

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