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Free Economic Zone in Crimea

Sep 29, 2014
1 min read

Starting from September 27, 2014, new Law of Ukraine “On Establishing a Free Economic Zone “Crimea” and On Peculiarities of Conducting Business Activities on the Temporary Occupied Territory” is in full effect. It establishes a free economic zone “Crimea” on the occupied territories of the Autonomous Republic of Crimea and Sevastopol for next 10 years. Main purpose is to set up a special legal regime for business activities of legal entities and individuals on the territory, which determines a special framework for regulatory, tax, customs and migration issues taking into account that Ukraine is currently unable to execute and enforce its jurisdiction in Crimea that is under Russian occupation and effective control.

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