Companies participating in the Skolkovo research district, dubbed Russia's "Silicon Valley," are not obliged to operate inside the future hub's area until 2014, a Russian business daily said on Thursday.
Skolkovo is being built from scratch 20 kilometers west of Moscow. The center will focus on research in five priority spheres: energy, information technologies, communication, biomedical research and nuclear technologies. Companies and residents will have unprecedented tax benefits lasting for ten years, or until annual revenues reach 3 billion rubles. There will also be tax breaks on land, transport and VAT.
In order to speed up the launch of the Skolkovo project, the Russian government has ruled that participants may begin working using the area's tax benefits without moving to Skolkovo until 2014, Vedomosti daily reported.
The research hub will start full-fledged operations in four or five years, the first deputy head of the presidential administration, Vladislav Surkov, who also heads the Skolkovo project working group, said.
Vedomosti daily said that in order to facilitate bureaucratic procedures for the companies that are located across Russia, a special united Internet service could be created.
Russia considers the development of the high-tech and innovation sector a top priority, pledging billions of dollars to finance the sphere.
MOSCOW, September 9 (RIA Novosti)