Adoption of federal law granting Vladivostok "free port" status
13 Jul 2015
On 13 July 2015, the President of the Russian Federation signed federal law №212-FZ "On the free port of Vladivostok". The Federal Law is to be in force in 90 days after its official publication. Amendments to the Tax
Code are to be in force from the 1 January 2016.
Under the law, Vladivostok port will enjoy free port status for 70 years, with a possibility of further extension. In addition to Vladivostok port, 15 other municipalities, as well as the ports of Nakhodka, Zarubino and Posiet will also come under the free port zone.
Under the free port regime, visitors to the city will be allowed to obtain a visa on arrival for 8 days. There will also be a customs-free zone and tax incentives for companies operating in the zone. In particular, companies operating in the zone will have a flat income tax rate of 5 percent (instead of 20 percent) for the first five years, and 12 percent for the next five years. Additional taxes by way of payments to non-budgetary funds will be reduced from to 7.6 percent from 30 percent. Companies are also exempt from property tax.
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Promotion and facilitation (Special economic zones)
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