The Federal Law establishes a free economic zone in the Donetsk People's Republic, Lugansk People's Republic, Zaporozhye and Kherson regions for the period until December 31, 2050.
The Federal Law establishes a special legal regime for the free economic zone participants in implementing investment projects and engaging in entrepreneurial and other activities and introduces the customs procedure of the free customs zone.
The Federal Law sets the requirements to be met by legal entities and individual entrepreneurs seeking the status of a free economic zone participant, the procedure for receiving such status, the powers of the management company and top executive authorities of the Donetsk People's Republic, Lugansk People's Republic, Zaporozhye and Kherson regions.
The President also signed federal laws On Amendments to Certain Legislative Acts of the Russian Federation and On Amendments to Article 5 of Part One and to Part Two of the Tax Code of the Russian Federation, which make relevant changes to applicable laws.