In Vladivostok, Aquatoria (an Eskadra Management company), an FPV resident, has created one of the largest indoor pool complexes in the Russian Far East. Its five floors feature more than 50 various locations that may simultaneously accommodate up to 300 people with flow capacity reaching 1,000 people a day. The facility has become 300th fully implemented project that relied upon the measures of state support in Free Port Vladivostok (FPV). According to the agreement with the Russian Far East and Arctic Development Corporation (FEDC), 760 million rubles have been invested into the construction of the indoor pool complex, with 120 people employed.
“The concept hinged on the water complexes that are quite popular with the Southeast Asian countries. The idea has been adapted to the specific aspects of the Russian mentality and market requirements. Aquatoria is a public place designed in such a way that guests in swimming suits and special guest outfits may stay everywhere, including the main swimming pool areas and steam rooms. At the same time, a part of the complex relies on the limited gender-based access idea. We have witnessed that the complex is quite popular with Vladivostok residents as well as with city visitors and tourists”, said Evgeny Pavlikov, a spokesperson for Aquatoria LLC.
The pool complex with an area of 5,000 sq. m. is equipped with water treatment, water purification and disinfection units as well as clean-air systems. This made it possible to achieve health safety while reaching a high flow capacity of 1,000 people a day. Besides, there is a medical station in the complex. 50 locations are at the guests’ disposal, including 16 swimming pools, 8 baths and saunas, various recreation rooms, beauty shops, a restaurant, a summer terrace with a panoramic view, a games room and slides for children.
“FPV resident status has provided us with favorable financial conditions for running a business. For instance, it features a reduction of insurance payments to 7.6%, a privilege that allows to put a decent value on the people’s work and cut down the payback period of the project. This is especially important for businesses in the Russian Far East since prices here are one and a half to two times higher. In other words, the same complex set up in central Russia will cost one and a half times less while we had to bring up materials from other regions. This is the state support machinery that enables us to create comfortable conditions for start-ups”, stressed Evgeny Pavlikov.
Acting Director General of the FEDC Nikolay Zapryagaev pointed out that given a significant increase in the domestic tourist flow which was also propped up by the state support measures, the tourist infrastructure and recreational projects are especially needed in the Russian Far East and the Arctic. Regions that are unique in terms of nature shall be ready to accommodate all those willing to visit them, including foreign tourists from Asia.
To date, FPV residents in the Russian Far East have fully implemented 7 tourist and recreational projects while 131 projects are in various implementation stages, with 10 businesses due to open in 2022. Total volume of private investments poured into those projects has reached 27.6 billion rubles, with 4.4 thousand people due to get a job in new companies.
Let us remind you that investors implementing projects in the Far East and Arctic have been granted a deferment on the fulfillment of obligations until the end of 2022. Until 31 December, the Russian Far East and Arctic Development Corporation will not terminate agreements with residents of the Advanced Special Economic Zones (ASEZ) and Free Port Vladivostok (FPV), as well as the Arctic Zone of the Russian Federation (AZRF) in case of violation by investors of deadlines and other obligations under agreements. The decision made applies to all residents of preferential regimes. The move is primarily meant to buttress active entrepreneurs that have got down to implementing the project but are now facing external challenges arising due to reasons beyond control of the residents.
Free Port Vladivostok extends to 22 municipalities in 5 Far Eastern regions. According to agreements with the FEDC, more than 2,000 residents are now implementing projects with a total size of investments of 1.22 trillion rubles which will allow to provide 93.4 thousand people with jobs. 262 billion rubles have already been invested in the macro-region’s economy, 30,600 of its residents have been given jobs. FPV residents may have access to significant tax benefits and preferences, including insurance payments reduced to 7.6% for 10 years, zero property and profit taxes for first 5 years and the application of the free customs zone procedure.
Starting in December 2021, the FPV regime has become attractive for the small businesses as well. The Government of the Russian Federation has cut down capital expenditure minimum threshold for getting a FPV resident status by 10 times — from 5 million to 500,000 rubles. At this point, entrepreneurs may open their business even making a small investment while taking advantage of state support and using tax breaks and other benefits.