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The State Duma passed in the third reading the Law on the territories of advanced development

Today, the State Duma in the third reading adopted the Laws "On territories of advanced social and economic development in the Russian Federation" and "On amendments to certain legislative acts of the Russian Federation in connection with the adoption of the Federal Law" On territories of advanced social and economic development in the Russian Federation. "

In accordance with the adopted law, the territory of advanced socio-economic development (TOR) is a part of the territory of the Russian Federation, which has a special legal regime for business and other activities in order to ensure accelerated socio-economic development, creating favorable conditions for attracting investment, and also in order to create comfortable conditions for the livelihood of the population.

ТОР is created by the decision of the Government of Russia for a period of 70 years.

Financing of the TOP is carried out at the expense of federal, regional and local budgets, as well as extra-budgetary sources.

To solve administrative and economic issues, Managing Companies should be established with a wide range of powers, including the operation and construction of roads, the organization of transport services, electricity, gas, water, etc.

One of the most important points of the law is the existence of a special legal regime for the implementation of entrepreneurial and other activities in the territories of advanced development, which includes special taxation of residents, special preferential rates of rent, application of free customs zone procedures, priority connection to infrastructure facilities, and special state control and supervision.

For the first three years, the law on TOR is extended to the territory of the Far Eastern Federal District, after the expiration of this period, the law will be extended to other regions.

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