MOSCOW TIME: 18.04.2024 05:32:23
Tatarstan's Cabinet of Ministers adopted a document allowing investors to rent land in the Republic for investment purposes without any competitive tendering. Tatarstan's Investment Development Agency will be in charge of accepting and considering land lease applications
Land plots expected to be alloted for lease without tendering in Tatarstan
On 30 December 2015, Tatarstan's Cabinet of Ministers adopted a document allowing investors to rent land in the Republic for investment purposes without any competitive tendering. Tatarstan's Investment Development Agency will be in charge of accepting and considering land lease applications.
The period of time required to get land for an investment project will be reduced drastically – instead of 2 to 3 months required to complete the tendering process, an application will be considered within 10 business days after filing. The consideration of an application will involve a financial review of the business plan and testing of the project against preset criteria to be followed by a substantiated opinion.
The adoption of the document became possible after the enactment of amendments to the Land Code of the Russian Federation on 01 March 2015 within ongoing land law reformation efforts.
Pursuant to Article 33.3 of Tatarstan's Land Code, an investor may get a land plot without any tendering process if its investment project is a large scale one and meets certain criteria, e.g. facilitates the creation of job opportunities and contemplates a large scope of investment.
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