SPIC provides tax incentives, an opportunity of accelerated amortization of property and other preferences for the contract period (up to 10 years).
That means that if any laws or decrees which negatively affect business conditions are passed they will not apply to an investor who has a SPIC. Moreover, the investor can rapidly obtain the status of a Russian businessman.
What is expected of an investor in exchange? The investor will need to organize industrial production within the period specified in the contract.
What are the requirements for a project? To set up/upgrade production; adopt the best available techniques and/or organize production of products which have no analogs in Russia.
The total project investment has to be at least 750 million rubles.
The project must be related to any of these sectors:
- Mechanical engineering, including machine-tool production;
- Metallurgy and metalworking;
- Medical, biotechnology and pharmaceutical industries;
- Consumer goods manufacturing;
- Electronic, radio-electronic industries and production of communication equipment;
- Aerospace industry;
- Shipbuilding industry.