Investment Protection Agency
Competence Center for Legal and Organizational Support of Agreements on the Protection and Promotion of Investments (SPPI)
When an investor contacts us, they gain not a mere executor of individual tasks, but a partner who guides the project from start to finish.
A specialised competence centre providing legal and organisational support for agreements on the protection and encouragement of capital investments (SAPCI) in the Russian Federation.
We support the investor at every stage of engagement with the competent public authorities and development institutions – from the preliminary analysis of the applicability of SAPCI (and other support measures) to the complete completion of the administrative procedures required to obtain them.
The Agency’s activities cover the entire life cycle of an investment project: from structuring and concluding an SAPCI to undergoing annual monitoring and making amendments to the concluded agreement.
The Agency’s role is not limited to selecting individual measures but includes their systemic integration: identifying the possibility of simultaneously applying several regimes, establishing the sequence for obtaining preferences, and minimising regulatory and tax risks.
We support the investor at every stage of engagement with the competent public authorities and development institutions – from the preliminary analysis of the applicability of SAPCI (and other support measures) to the complete completion of the administrative procedures required to obtain them.
The Agency’s activities cover the entire life cycle of an investment project: from structuring and concluding an SAPCI to undergoing annual monitoring and making amendments to the concluded agreement.
The Agency’s role is not limited to selecting individual measures but includes their systemic integration: identifying the possibility of simultaneously applying several regimes, establishing the sequence for obtaining preferences, and minimising regulatory and tax risks.
Our advantages
- Understanding of government processesMembers of our team were employees of the organisation authorised by Decree No. 1577 of the Government of the Russian Federation of 20 October 2020 to support the processes related to the conclusion of SAPCIs.
- Unique track recordThe total volume of capital investments under SAPCIs prepared by our team members exceeds RUB 1.4 trillion, and the number of concluded SAPCIs exceeds 40
- Development of SAPCI methodologyOur team members took a direct part in the development of all regulatory legal acts in the field of SAPCIs and the methodology for concluding agreements, and also provided support for the conclusion of all SAPCIs concluded in 2020–2021.
- Experience across various economic sectorsWe assist investors in concluding SAPCIs in various sectors of the Russian economy, including manufacturing, agriculture, food and processing industries, healthcare, and other sectors.
- Open expertiseThe Agency launched the first Telegram channel in Russia dedicated exclusively to the SAPCI mechanism. To date, it remains the only specialised resource in this niche.
- Broad cooperationWe carry out systematic work to assist the constituent entities of the Russian Federation in developing the SAPCI mechanism and participate in professional development programmes for investment team staff (investors and development institutions).
- Combining support measuresOur expertise across a range of other state support measures and preferential regimes allows us to take a comprehensive approach to investment project support, building an optimal configuration of support instruments taking into account industry specifics, the scale of investment, and the project’s implementation stage.
- Clear operating principlesWe offer a free preliminary assessment of investment projects to determine the applicability of the SAPCI mechanism. Only after we have prepared this assessment (and preliminarily addressed key SAPCI issues) do we formulate a commercial offer and proceed to agree on the terms of the contract with the client.
Our services
- I. Analysis and structuringAnalysis of the investment project and its optimal structuring for concluding an SAPCI, taking into account the possibility of combining it with other preferential regimes.
- II. EngagementEngagement with competent public authorities and VEB.RF to preliminarily agree on the terms of the future SAPCI.
- III. Document preparationPreparation of a complete set of documents required for concluding an SAPCI, including the financial model, list of infrastructure facilities, list of stabilised acts, and other materials
- IV. ApprovalApproval of the prepared documents with competent public authorities and VEB.RF, work within the “Kapitalovozheniya” (Capital Investments) State Information System.
- V. SAPCI monitoringSupport for the investor during VEB.RF’s annual monitoring of compliance with SAPCI terms.
- VI. SAPCI amendmentSupport for the investor when making amendments to a concluded SAPCI.
Collaboration options
- “Full” optionInvolves the Agency assuming the entire cycle of preparing and approving documents for an SAPCI – from analysis and structuring to signing the agreement and its registration.
- “Standard” optionExcludes the preparation of the investment project’s financial model from the scope of services. In this case, the investor independently prepares and agrees on the financial model with the regulators, while we handle everything else.
- “Basic” optionAimed at investors whose teams are highly prepared in SAPCI matters. Under this option, all documents are prepared and approved by the investor’s team, with the Agency providing advisory support.
Workflow
Contacting us
You can reach us in any convenient way – besides the usual telephone and email, we are always available on WhatsApp, Telegram, and Max.
Exchange of preliminary information
We organise prompt interaction involving representatives of the Agency, the investor, and, if necessary, public authorities and development institutions (meetings, videoconferences, etc.).
Preparation of a preliminary assessment
We will prepare, free of charge, a preliminary assessment regarding the possibility of concluding an SAPCI for the specific investment project and send it to the investor.
Conclusion of a contract
If a decision is made that an SAPCI can be concluded for the specific investment project, we agree on the terms and sign a service agreement.
In-depth analysis and structuring
We study the specifics of the investment project being implemented, prepare recommendations for its additional structuring, and collect the necessary documentation.
Registration in the “Kapitalovozheniya” State Information System
We ensure the registration of the investor’s personal account in the “Kapitalovozheniya” (Capital Investments) State Information System.
Preparation of draft documents
We prepare drafts of the documents required for concluding an SAPCI in both physical and digital formats and agree on them with the investor.
Preliminary approval of documents
We ensure preliminary approval of the prepared documents with competent public authorities and development institutions.
Work within the “Kapitalovozheniya” State Information System
We ensure the preparation of the required documents (agreement, applications, etc.), upload the accompanying materials to the “Kapitalovozheniya” State Information System, and submit them for approval to VEB.RF and the competent public authorities.
Approval with VEB.RF and competent authorities
We ensure the official approval of the prepared documents with VEB.RF and the competent public authorities.
Addressing comments
We address all comments from VEB.RF and the competent public authorities regarding the relevant documents – prepare new versions of the documents and ensure they are considered in subsequent iterations.
Signing the SAPCI
We support the investor at all stages related to the signing of the SAPCI by the parties and its registration with the Federal Treasury.
Monitoring compliance with SAPCI terms
We assist the investor during VEB.RF’s annual monitoring of compliance with SAPCI terms (prepare reporting documents, provide explanations, prepare assessments, etc.).
Making amendments to the SAPCI
We support the investor throughout the process of making amendments to the SAPCI, including in connection with the monitoring of compliance with SAPCI terms.
Service timelines
The total period for preparing, agreeing on, and signing an SAPCI is from 7 months.
However, the timeframe for services related to the preparation and conclusion of an SAPCI depends on a number of factors, including the investor’s readiness, the coherence of team interaction, and the timeframes for reviewing documents by competent public authorities and VEB.RF.
Limitations
The Agency does not provide services that are limited to fragmentary assistance or technical support for individual elements of an SAPCI, and does not take on projects where the Agency’s involvement is limited to preparing an arbitrary document without in-depth analysis and comprehensive support.
Providing an investor with an incomplete scope of services while maintaining the appearance of involvement not only jeopardises the project’s implementation but also contradicts our understanding of professional responsibility.
We see no other way to ensure success, preserve the investor’s resources, and avoid risking our own reputation.
Providing an investor with an incomplete scope of services while maintaining the appearance of involvement not only jeopardises the project’s implementation but also contradicts our understanding of professional responsibility.
We see no other way to ensure success, preserve the investor’s resources, and avoid risking our own reputation.
What is SAPCI?
SAPCI is a legal instrument of state support designed to stimulate the implementation of large-scale investment projects.
An SAPCI is an agreement concluded between an investor and the Russian Federation, a constituent entity of the Russian Federation, and/or a municipal entity.
The legal basis of the mechanism is Federal Law No. 69-FZ of 1 April 2020 “On the Protection and Encouragement of Capital Investments in the Russian Federation”, as well as a range of subordinate regulatory legal acts, including resolutions of the Government of the Russian Federation and orders of the Ministry of Economic Development of Russia.
An SAPCI is an agreement concluded between an investor and the Russian Federation, a constituent entity of the Russian Federation, and/or a municipal entity.
The legal basis of the mechanism is Federal Law No. 69-FZ of 1 April 2020 “On the Protection and Encouragement of Capital Investments in the Russian Federation”, as well as a range of subordinate regulatory legal acts, including resolutions of the Government of the Russian Federation and orders of the Ministry of Economic Development of Russia.
Key advantages of SAPCI
SAPCI provides the investor with the broadest possible set of state support measures, namely:
- Stabilisation of the project’s regulatory environment (stabilisation clause)
- Stabilisation of tax legislation
- Reimbursement of costs for the creation of infrastructure facilities, as well as interest on loans and borrowings raised for their creation
- Application of preferential coefficients when calculating the mineral extraction tax (MET)
Stabilisation clause
This means that acts that worsen the conditions for the investor’s business or other activities related to the implementation of the investment project, compared to the conditions in place at the time the SAPCI was concluded, will not be applied to the investor.
The list of “stabilised” acts at the federal level was approved by Government Decree No. 2724-r of 21 September 2022, while the list of acts at the regional level is approved by the authority of the relevant constituent entity of the Russian Federation.
The list of “stabilised” acts at the federal level was approved by Government Decree No. 2724-r of 21 September 2022, while the list of acts at the regional level is approved by the authority of the relevant constituent entity of the Russian Federation.
Tax stabilisation
Stabilisation applies to the following taxes and levies:
- Corporate property tax
- Land tax
- Value added tax (VAT)
- Corporate profit tax
- Transport tax
- New taxes and levies (except those introduced to replace abolished ones)
Examples from practice
Pursuant to Article 3 of the Federal Law “On the Excess Profit Tax”, for a taxpayer that is a party to an SAPCI, the tax base for corporate profit tax derived from activities related to the implementation of the investment project that is the subject of the SAPCI is not taken into account.
An organisation that concluded an SAPCI before 31 December 2024 applies the “old” corporate profit tax rate of 20% to income derived from activities related to the implementation of the investment project that is the subject of the SAPCI.
An organisation that concluded an SAPCI before 31 December 2024 applies the “old” corporate profit tax rate of 20% to income derived from activities related to the implementation of the investment project that is the subject of the SAPCI.
Reimbursement of costs
Under an SAPCI, the investor may be reimbursed for the following types of costs:
- Infrastructure costs
- Creation, reconstruction of infrastructure facilities necessary for the project’s implementation (including facilities in state, municipal, or regulated organisation ownership).
- Technical connection (adjacency) to engineering and transport networks.
01 - Interest on loans and borrowings
- Interest on loans, borrowings, coupon income on bond loans raised for the creation of infrastructure facilities.
- Interest on loans, borrowings, coupon income on bond loans raised for the creation of the project’s main facility (if such interest was paid during the investment stage).
02 - Other costsDismantling of facilities located in the territories of military towns (in relation to housing construction)03
SAPCI implementation practice
According to the Ministry of Economic Development of Russia and VEB.RF, as of the beginning of 2026:
- More than 80 SAPCIs have been concluded, with a total volume of capital investments exceeding RUB 3.7 trillion
- SAPCIs are being implemented in 40 constituent entities of the Russian Federation
News
- 11.02.2026The Agency conducted a masterclass on SAPCIs for investment teams.
- 05.05.2025In cooperation with the Agency, successful completion of monitoring of SAPCI compliance, conducted by VEB.RF, was ensured.
- 07.07.2025In cooperation with the Agency, additional agreements to previously concluded SAPCIs were signed.
- 17.12.2024The Agency conducted a masterclass on SAPCIs for investment teams.
- 11.12.2023The Agency launched the first Telegram channel in Russia dedicated to SAPCI. This Telegram channel will cover everything about the theory and practice of SAPCI – study, subscribe, we will be grateful for your questions and comments.
- 30.11.2023The National Association of Investment and Development Agencies (NAAID) held a masterclass on the implementation of the SAPCI mechanism for heads and staff of regional investment teams.
- 05.09.2023The Agency ensured the preparation and support of the signing of the first SAPCIs concluded under the updated legal framework. Information about the SAPCIs prepared by the Agency was discussed during the meeting of the President of the Russian Federation with the Minister of Economic Development M.G. Reshetnikov.
- 05.12.2022The Agency provided Vedomosti with commentary on the regulatory development of SAPCIs and the role of this instrument in ensuring Russia’s investment attractiveness. Article: Ministry of Economy unfreezes the main investment regime after a nearly two-year pause.
- 31.10.2022The Agency provided Nezavisimaya Gazeta with commentary on issues of regulatory legal regulation of SAPCIs. Article: Russian investors navigate between “barriers”.
- 14.09.2022The Agency provided Vedomosti with commentary on the relaunch of the SAPCI mechanism, the uniqueness of this instrument, and outstanding issues regarding the relevant regulatory framework. Article: Who will oversee the preferential regime for large investors after its relaunch.
- 31.01.2022The Agency’s General Director provided Vedomosti with commentary on improving the legal regulation of the SAPCI mechanism. Article: Government to relaunch the main investment regime for mega-projects after a one-year break.
- 21.06.2022Investment Protection Agency (LLC) was established.
Contacts
+7 495 774 82 22
+7 985 774 82 22
(Whatsapp, Telegram, Max)
info@azi-agency.ru
Russia, Moscow,
15 Krasnoprudnaya St., Room 3N/2
OGRN / TIN: 1227700357532 / 7708406032
© Investment Protection Agency LLC, 2022 – 2026
+7 985 774 82 22
(Whatsapp, Telegram, Max)
info@azi-agency.ru
Russia, Moscow,
15 Krasnoprudnaya St., Room 3N/2
OGRN / TIN: 1227700357532 / 7708406032
© Investment Protection Agency LLC, 2022 – 2026