Красноярский край: вопросы регионального развития. Практикум профессионально ориентированного письменного перевода и перевода с листа.The Krasnoyarsk Krai: the Issues of Regional Development

• 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);

• conclusion of the agreement with the European Energy Charter;

• accession to the International Monetary Fund and International Bank for Reconstruction and Development.

Source: http://www.krskstate.ru

Vocabulary list

legislative acts – законодательные акты

the Civil Code – гражданский кодекс

additional guarantees – дополнительные гарантии

purpose-oriented character – целевой характер

budget distribution – распределение бюджета

regional budget use – использование краевого бюджета

diversification of risks – диверсификация (распределение) рисков

mutual responsibility – совместная ответственность

authorized capital – уставной капитал, акционерный капитал

leasing payments – лизинговые выплаты

to render information – предоставить информацию

Earth bowels – недра земли