Чтение онлайн

The product sharing agreements are signed by the government with competition or auction winner realized in the course of statutory legislation and coordinated terms, but not later than one year from the day of declaration of the results of the competition or the auction.

Deposit can be included in a field’s exploitation list if it has substantiations of the Government of Russia for inclusion that’s deposits in mentioned lists. Development of minerals is allowed at 30 percent interest of the explored and accounting reserves by the State. The investors can be legal persons or created on the basis of the contract associations of legal persons. License for right of development is given to investors by the terms of the Agreement.

Production is subject to division between the State and investor in accordance with the terms of the Agreement in the following way:

• fixing general quantum of output and production value;

• fixing of quantum part of output, which is passed to investor for compensation of its expenditure on execution phase by the Agreement (compensatory production).

The maximum level of compensatory production must not overdraw 75 % and 90 % on the assumption of mining on continental shelf of the Russian Federation – 90 % total volume of production output. The structure of costs for compensation to the investor at the cost of compensatory production finds its position in the legislation of the Russian Federation (Clause 8 FS Division of Production);

• division of profitable production (produced productions) between a state and an investor produced during realization of the agreement (Clause 8 FS Division of Production), except for the part of that production exploitable for discharge of natural resources for the use (Clause 8 FS Division of Production) of the earth bowels in accordance with the legislation of the Russian Federation and compensatory production;

• transfer the state-owned part of produced productions or its cost equivalent according to the terms of the Agreement;

• delivery of the produced productions belonged to the investor according to the terms of the Agreement.

According to the legislation of Russia the investor exempts of taxes, duties and excises, except for three following taxes:

1. Profit tax:

Taxable base is the produced production belonged to the investor according to the terms of the Agreement. Tax rate is fixed by the Agreement. At calculation of the profit tax the rate acting on date of signing of the agreement is applied. As agreed the profit tax is paid by the investor in natural or value form.

2. Natural resources use duty:

• non-recurring payments (bonuses) are paid when the Agreement is signed or when outcome obtains a fixed result;

• annual payments for research and prospecting works defined for a square unit of subsurface area under usage versus economical and geographical conditions, size of subsurface area, type of mineral, duration of the noticed works and geological exploration degree of subsurface area and risk degree;

• regular payments (royalty), fixed in percentage wise from volume of mineral resources output or from produced production cost and paid out by investor in money or as a part of extracted minerals.

3. Value added tax (VAT).

4. Social tax paid to Russian Pension Fund, Russian Social Insurance Fund, Russian Medical Insurance Fund.

Investors are free of other obligations of resources usage payments. The payment for the use of land and other natural resources is carried out by an investor on a contractual basis according to the legislation of the Russian Federation. The investor has the right to transfer in full or in part the rights and duties under the Agreement to any physical or legal person only with the consent of the state.

According to the active legislation in conformity with the Federal Act “Foreign investments in the RF” dated 9 July 1999 № 160-FA the following enterprises can be established and act in the Krasnoyarsk Krai:

• commercial organizations with foreign investments (joint ventures), their branches and representations, which can be established in the following legal forms: joint-stock companies, limited partnerships, general partnerships, individual private companies;

• commercial organizations completely owned by foreign investors (100 % of foreign capital), their branches and representations entitled to elect:

unincorporated representation without right for independent economic activities; branches with the right for independent economic activities, but without incorporation; joint-stock company with all the rights of juridical person.

The procedure for registration of commercial organizations with foreign investments, branches and representatives of foreign legal entities

Nowadays according to the Federal Law “On state corporate registration” dated 8.08.2001 the new procedure of legal entities registration was adopted since 01.06.2002. The authorized federal state body is Federal Tax Service. The state registration is to be legalized:

• in 5 working days since the date of documents presenting;

• on the location specified by founders in the application for the state registration of constantly operating agency, in case of absence of such an agency – on the location of other body or the person that have the right to operate on behalf of the legal person without the power of attorney.

Registration of establishing legal unit

List of the documents liable for submission to the Territorial Administration for registration:

• Founders’ application request made in writing with a request to register an organization;

• a certified copy of the decision of the owner of the property to establish the organization, or copies of the appropriate decision made by the body authorized by the owner;

• certified foundation documents;

• an extract from the trade register of the country of origin or other equivalent document confirming the legal status of the foreign investor in accordance with the legislation of the country of its location (its translation into Russian must be notarized and attached);

• document confirming payment of the State duty.

One of the factors that contribute to the investment attractiveness of the region is Russia’s integration into the system of international law that regulates cooperation in the sphere of investment. Some of the steps made in this direction are as follows:

• conclusion of 33 intergovernmental agreements concerning mutual protection and stimulation of investments;

• accession to two international conventions, namely, Washington convention on the procedure of settling investment disputes between governments and foreign investors (1965) and Seoul convention on establishment of the Multilateral Investment Guarantee Agency (1985);