Investors becoming PDA or FPV residents until 2025 will enjoy 10-year break in insurance premium payments – Vladimir Putin

Any investor who has become a resident of a priority development area or the Free Port of Vladivostok until 2025 will enjoy a ten-year break in insurance premium payments, Kremlin press center cites Russian President Vladimir Putin as saying at the plenary session of the Eastern Economic Forum.

For major investment projects in excess of 100 billion rubles, the revenue tax exemption will be extended from 10 to 19 years, said the President. “In this regard, we are proceeding from the premise that these are long-cycle projects, and those who invest certain amounts of funds should understand the economic aspects of these projects”, he added.

Vladimir Putin also said that foreign investors who invest $10 million or more in the Russian Far East, should be able to use an expedited procedure for obtaining Russian citizenship.

“To reiterate, we intend to focus on improving the business environment”, emphasized the President.