Bashkiria Government presented results of best practices plan of Investment Climate National Rating implementing

UFA, 26 March 2018. /Bashinform News Agency, Olga Murtazina/. Following the results of 2017, a Plan for the best practices implementation of the Investment Climate National Rating in the regions of the Russian Federation was fulfilled by 99.4% in the republic, the Minister of Economic Development RB Sergei Novikov announced at a briefing session in the Government. As the head of the Project Office, the Minister announced the main results of the implementation of the roadmap activities.

In particular, ownership rights registration terms were reduced to six working days, the state cadastral registration of real estate using electronic storage lasts for four working days, the documents of the cadastral works are agreed upon within 12 days, the number of procedures necessary for a company registration was decreased.

A legal entity can be registered in three procedures, sole proprietorship - in two procedures, a bank account can be opened for half a day.

Environmental projects were exempted from the property tax, the duration of tax benefits for property and profits was increased from three to 10 years, it is envisaged that the existing state support measures may be retained in case of a company reorganization.

To obtain prompt feedback from investors, a procedure for eliminating violations of investment legislation was approved. All appeals related to the violation of the investors' rights are now considered as a matter of priority and within a ten-day period.

The main efforts were aimed at improving the effectiveness of feedback between the republican leadership and business. Last year, meetings were held with more than 250 investors, where their investment plans and proposals for state support were discussed.