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FAQ - 10 questions and answers to investors

What is Crimea, and what are its advantages over other countries and regions?

Advantages of Crimea are:

Favorable geographic and geo-economic position
Powerful transport and transit potential
Tourism potential, comfortable climatic conditions for recreation and treatment
Significant mineral resource potential, including deposits of hydrocarbons and raw materials for chemical and construction industries
Potential for cluster development in agricultural, chemical, food processing and sea-economic complex as well as in tourism and recreation
High quality human capital
Branched financial, credit and trading infrastructure
Development potential of SME
"Green" energy potential
Wide opportunities for international cooperation
Stable political situation
Autonomous status of the region

More information about investment opportunities of Crimea you can find on the dedicated Investment Portal: http://invest-crimea.gov.ua/?locale=en

Investment Passport of Crimea

In addition, other presentation and informational materials about Crimea are available for your attention

Interactive Investment Map of Crimea

What is the political situation in Crimea?

Of course, a political stability is a basis of any region’s development. It allows attracting investment, creating jobs and improving people's lives.

Crimea has achieved a mutual understanding with all political forces and communities. Currently there are no political conflicts, interethnic consent is achieved and consistent investment policy is being conducted. The legislation is under constant improvement in order to create more comfortable environment for investors and meet interests of all investment process participants.

What are global ratings of Crimea?

Financial stability of the autonomy is confirmed by estimates of the international credit rating Standard&Poor's. In spring 2010, the rating has risen to the level of B- and in June 2011, the forecast has improved to a value of "Positive", which means sufficient creditworthiness of debt obligations and ensuring investment profitability.

What long-term national development documents are adopted in Crimea?

The Strategy for social and economic development of the Autonomous Republic of Crimea until 2020 was developed and adopted. It clearly defines the main directions of Crimea development, the goals and achieving methods for the next decade.

The Strategy - is a kind of "road map", where you can get a full picture of the region’s potential and promising areas of your activities.

What institutions in the field of business organization the executive authorities interact with?

Within its work the Ministry actively cooperates with the Agency for Regional Development of the Autonomous Republic of Crimea

The Agency for Regional Development of the Autonomous Republic of Crimea was established by the Council of Ministers of the ARC in 2010 as a single focal point of investment activity on the peninsula. The Agency is a pilot project in the area of effective regional development in Ukraine. It was supported by the European Union and United Nations Development Programme

The Agency provides for support to investment projects from the start up to the end of implementation and helps to break down barriers between the government and business.

How the government works on business deregulation?

A network of unified republican licensing centers all around Crimea was established in 2010. In a single place they host representatives of the majority of licensing services, which issue more than 80 types of permits for business.

Any entrepreneur can fill out and leave his comment on this or any other regulatory body. In its turn, the ministry provides rapid response to all questions.

In order to remove regulatory restrictions on the start up and doing business in Crimea, all of the regulatory acts were adjusted in accordance with applicable law. 413 acts were abrogated and 150 regulations were amended.

Is there a list of investment projects of Crimea? Where should I contact in order to participate in investment projects in Crimea?

The full list of investment projects of Crimea is presented in the Collection of investment projects and offers of Crimea

Questions concerning practical implementation of projects should be addressed to the Agency for Regional Development of Crimea. Agency contact information: tel. +380 (652) 248-909, e-mail: info@ard.crimea.ua; www.ard.crimea.ua.

Who is a contact person in the Ministry on implementation of investment activities in Crimea?

On investment activity in the Autonomous Republic of Crimea, please contact to Burov Alexander, tel: +38 (0652) 600-281. E-mail: inv-forum@ark.gov.ua

The Ministry provides information support to project implementation.

How the rights of foreign investors are protected in Ukraine and in Crimea?

The rights and guarantees for foreign investors are stated in the Section II Articles 7-11 of the Law of Ukraine "On Foreign Investment" №93/96-ВР dated 19.03.1996:

Art. 7 - A national regime of investment and other economic activities is established for foreign investors in the territory of Ukraine.
Art. 9 - Foreign investment is not a subject for nationalization.
Art. 10 - Foreign investors have rights for compensation of damages, including lost profit and moral damage caused to them due to action, inaction or improper fulfillment by the state authorities of Ukraine or their officials of the obligations under a foreign investor or an enterprise with foreign investment, in accordance with Ukrainian legislation.
Art. 11 - In case of termination of investment activity, the foreign investor is entitled to a refund not later than six months after the termination of activities of his investment in kind form or in investment currency in the amount of actual payment (taking into account possible reduction of share capital) without payment of duties, as well as income from these investments in money or good form by fair market value at the time of termination of investment activities, unless otherwise provided by laws or international treaties of Ukraine.
Art. 12 - Foreign investors after paying taxes, fees and other obligatory payments are guaranteed free and immediate transfer abroad of their profits, revenues and other funds in foreign currency obtained legally because of foreign investment.

Besides, in order for investment activity development and improving conditions for investors in Crimea, the Council of Ministers of the AR Crimea has developed the following draft bills:

"On the principles of development of the Autonomous Republic of Crimea and peculiarity of investment activity in its territory." The bill is pending in the Supreme Rada of Ukraine.
"On amendments to the Tax Code of Ukraine", which provides tax incentives for implementation of duly registered investment projects in the Autonomous Republic of Crimea. The document is under consideration by the Cabinet of Ministers of Ukraine.

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15.09.2011