About investment activities in the Russian Federation, carried out in the form capital investments

(as amended on January 2, 2000; August 22, 2004; February 2, December 18, 2006; July 24, 2007)

This Federal Law defines the legal and economic foundations investment activities carried out in the form of capital investments on the territory of the Russian Federation, and also establishes guarantees of equal protection of the rights, interests and property of subjects of investment activities carried out in the form of capital investments, regardless of the form of ownership.

Chapter I. General Provisions

N 215-FZ amendments have been made to article 1 of this Federal Law

Federal law dated January 2, 2000 No. 22-FZ, article 1 of this Federal Law was amended

For the purposes of this Federal Law, the following basic concepts are used:

investments- cash, securities, other property, including property rights, other rights that have monetary value invested in objects of entrepreneurial and (or) other activities in order to make a profit and (or) achieve another useful effect;

investment activities - investment and implementation of practical actions in order to obtain profit and (or) achieve other beneficial effect;

capital investment - investments in fixed assets (fixed assets), including the costs of new construction, expansion, reconstruction and technical re-equipment operating enterprises, purchase of machinery, equipment, tools, inventory, design and survey work and other costs;

investment project - justification of the economic feasibility, volume and timing of capital investments, including the necessary project documentation, developed in accordance with the legislation of the Russian Federation and standards (norms and rules) approved in accordance with the established procedure, as well as a description of practical actions for making investments (business plan).

priority investment project - an investment project, the total volume of capital investments in which complies with the requirements of the legislation of the Russian Federation, included in the list approved by the Government of the Russian Federation;

payback period of an investment project - the period from the day the financing of the investment project starts until the day when the difference between the accumulated amount net profit with depreciation charges and the volume of investment costs becomes positive;

- estimated total volume Money subject to payment in the form of import customs duties (with the exception of special types of duties caused by the application of measures to protect the economic interests of the Russian Federation in the implementation of foreign trade goods in accordance with the legislation of the Russian Federation), federal taxes(with the exception of excise taxes, value added tax on goods produced in the territory of the Russian Federation) and contributions to state extrabudgetary funds(excluding contributions to Pension Fund Of the Russian Federation) by an investor implementing an investment project on the day the investment project starts financing.

Federal Law No. 22-FZ of January 2, 2000 amended Article 2 of this Federal Law

This Federal Law applies to relations associated with investment activities carried out in the form of capital investments.

This Federal Law does not apply to relations associated with investments in banks and other credit institutions as well as in insurance organizations, which are regulated respectively by the legislation of the Russian Federation on banks and banking and the legislation of the Russian Federation on insurance.

1. Objects of capital investments in the Russian Federation are those in private, state, municipal and other forms of ownership different kinds newly created and (or) modernized property, with the exceptions established by federal laws.

2. Capital investments in objects, the creation and use of which do not comply with the legislation of the Russian Federation and standards (norms and rules) approved in the established manner, are prohibited.

1. Subjects of investment activity carried out in the form of capital investments (hereinafter referred to as subjects of investment activity) are investors, customers, contractors, users of capital investment objects and other persons.

2. Investors make capital investments on the territory of the Russian Federation using their own and (or) borrowed funds in accordance with the legislation of the Russian Federation. Investors can be individuals and legal entities created on the basis of an agreement on joint activities and do not have the status of a legal entity of the association. legal entities, state bodies, local self-government bodies, as well as foreign business entities (hereinafter referred to as foreign investors).

3. Customers- individuals and legal entities authorized by investors who carry out the implementation of investment projects. At the same time, they do not interfere in entrepreneurial and (or) other activities of other subjects of investment activity, unless otherwise provided by an agreement between them. Customers can be investors.

The customer, who is not an investor, is endowed with the rights of ownership, use and disposal of capital investments for the period and within the powers established by the agreement and (or) government contract in accordance with the legislation of the Russian Federation.

Federal Law No. 19-FZ of February 2, 2006 amended Clause 4 of Article 4 of this Federal Law

4. Contractors- individuals and legal entities who perform work under a work contract and (or) a state or municipal contract concluded with customers in accordance with the Civil Code of the Russian Federation. Contractors are required to have a license to carry out those activities that are subject to licensing in accordance with federal law.

5. Capital Investment Users- individuals and legal entities, including foreign ones, as well as state bodies, local self-government bodies, foreign states, international associations and organizations for which these objects are created. Investors can be users of capital investment objects.

6. A subject of investment activity has the right to combine the functions of two or more entities, unless otherwise provided by an agreement and (or) a government contract concluded between them.

Relations associated with investment activities carried out in the form of capital investments by foreign investors on the territory of the Russian Federation are governed by international treaties of the Russian Federation, the Civil Code of the Russian Federation, this Federal Law, other federal laws and other regulatory legal acts of the Russian Federation. If an international treaty of the Russian Federation establishes rules other than those provided for by this Federal Law, then the rules of the international treaty shall apply.

Chapter II. Legal and economic foundations of investment activities carried out in the form of capital investments

Investors have equal rights to:

implementation of investment activities in the form of capital investments, with the exceptions established by federal laws;

independent determination of the volumes and directions of capital investments, as well as the conclusion of contracts with other subjects of investment activity in accordance with the Civil Code of the Russian Federation;

possession, use and disposal of capital investment objects and the results of capital investments made;

transfer, under an agreement and (or) a state contract, of their rights to make capital investments and to their results to individuals and legal entities, state bodies and local self-government bodies in accordance with the legislation of the Russian Federation;

control over targeted use funds allocated for capital investments;

pooling of own and borrowed funds with funds of other investors for the purpose of joint implementation of capital investments on the basis of an agreement and in accordance with the legislation of the Russian Federation;

exercise of other rights stipulated by the agreement and (or) state contract in accordance with the legislation of the Russian Federation.

Federal Law No. 122-FZ of August 22, 2004 amended Article 7 of this Federal Law.The amendments shall enter into force on January 1, 2005.

Subjects of investment activity are obliged to:

carry out investment activities in accordance with international treaties of the Russian Federation, federal laws and other regulatory legal acts of the Russian Federation, laws of the constituent entities of the Russian Federation and other regulatory legal acts of constituent entities of the Russian Federation and local governments, as well as with standards (norms and rules) approved in the established manner );

comply with the requirements of government agencies and their officials that do not contradict the norms of the legislation of the Russian Federation;

use funds allocated for capital investments for their intended purpose.

1. Relations between subjects of investment activity are carried out on the basis of an agreement and (or) a state contract concluded between them in accordance with the Civil Code of the Russian Federation.

2. Terms of contracts and (or) government contracts, concluded between the subjects of investment activity, retain their force for the entire period of their validity, except for the cases provided for by this Federal Law and other federal laws.

Funding of capital investments is carried out by investors at the expense of their own and (or) borrowed funds.

Government bodies of the Russian Federation, government bodies of the constituent entities of the Russian Federation and local government bodies, by agreement between them, may interact in investment activities carried out in the form of capital investments, in accordance with the Constitution of the Russian Federation, this Federal Law and other federal laws.

Chapter III. State regulation of investment activities carried out in the form of capital investments

Federal Law No. 19-FZ of February 2, 2006 amended Article 11 of this Federal Law

Federal Law No. 122-FZ of August 22, 2004 amended Article 11 of this Federal Law.The amendments shall enter into force on January 1, 2005.

1. Government regulation investment activities carried out in the form of capital investments are carried out by the state authorities of the Russian Federation and the state authorities of the constituent entities of the Russian Federation.

2. Federal government bodies to regulate investment activities carried out in the form of capital investments, use the following forms and methods:

1) creation of favorable conditions for the development of investment activities carried out in the form of capital investments by:

improving the tax system, the mechanism for calculating depreciation and the use of depreciation deductions;

establishment of special tax regimes that are not of an individual nature;

protecting the interests of investors;

providing subjects of investment activity with preferential conditions for the use of land and other natural resources that do not contradict the legislation of the Russian Federation;

creation and development of a network of information and analytical centers carrying out regular ratings and publication of ratings of investment entities;

taking antitrust measures;

expanding the possibilities of using collateral in lending;

development financial leasing In Russian federation;

revaluation of fixed assets in accordance with inflation rates;

creating opportunities for the subjects of investment activity to form their own investment funds;

2) direct participation of the state in investment activities carried out in the form of capital investments by:

development, approval and financing of investment projects carried out by the Russian Federation jointly with foreign states, as well as investment projects financed from funds federal budget;

formation of a list of construction projects and objects of technical re-equipment for federal state needs and their financing at the expense of the federal budget. The procedure for forming the specified list is determined by the Government of the Russian Federation;

allocation of federal budget funds to finance investment projects in the manner prescribed by the legislation of the Russian Federation on placing orders for the supply of goods, performance of work, provision of services for state and municipal needs. The placement of these funds is carried out on a returnable and urgent basis with payment of interest for their use in the amount determined by the federal law on the federal budget for the corresponding year, or on the condition of securing the state ownership of the corresponding part of the shares of the joint-stock company being created, which are sold after a certain period on the market valuable papers with the direction of proceeds from sales to the revenues of the respective budgets;

protection Russian organizations from the supply of obsolete and material-intensive, energy-intensive and unscientific technologies, equipment, structures and materials;

development and approval of standards (norms and rules) and control over their observance;

issue of bond loans, guaranteed target loans;

involvement in the investment process of temporarily suspended and mothballed construction projects and state-owned facilities;

granting concessions to Russian and foreign investors based on the results of tenders (auctions and tenders) in accordance with the legislation of the Russian Federation.

2.1. State authorities of the constituent entities of the Russian Federation can use the following forms and methods to regulate investment activities carried out in the form of capital investments:

development, approval and implementation of inter-municipal investment projects and investment projects for objects of state property of the constituent entities of the Russian Federation, financed from the budgets of the constituent entities of the Russian Federation;

examination of investment projects in accordance with the legislation;

providing, on a competitive basis, state guarantees for investment projects at the expense of the budgets of the constituent entities of the Russian Federation. The procedure for providing state guarantees at the expense of the budgets of the constituent entities of the Russian Federation is determined by the laws of the respective constituent entities of the Russian Federation;

allocation of funds from the budgets of the constituent entities of the Russian Federation to finance investment projects in the manner prescribed by the legislation of the Russian Federation on placing orders for the supply of goods, performance of work, provision of services for state and municipal needs. The placement of these funds is carried out on a returnable and urgent basis with payment of interest for their use in the amount determined by the law on the budget of the constituent entity of the Russian Federation, or on the condition of securing the ownership of the constituent entity of the Russian Federation of the corresponding part of the shares of the joint-stock company being created, which are sold after a certain period of time on the securities market. securities with the direction of proceeds from sales to the revenues of the respective budgets;

issue of bonded loans of the constituent entities of the Russian Federation, guaranteed target loans;

involvement in the investment process of temporarily suspended and mothballed construction projects and objects owned by the constituent entities of the Russian Federation.

3. State regulation of investment activities carried out in the form of capital investments may be carried out using other forms and methods in accordance with the legislation of the Russian Federation.

In the context of emergencies on the territory of the Russian Federation, the activities of subjects of investment activity that find themselves in the zone emergency, carried out in accordance with the legislation of the Russian Federation.

1. Decisions on the implementation of state capital investments are made by state authorities in accordance with the legislation of the Russian Federation.

2. Expenditures for financing public capital investments are provided for:

in the federal budget - provided that these expenses are part of the expenses for the implementation of the corresponding federal target programs, as well as on the basis of proposals from the President of the Russian Federation or the Government of the Russian Federation;

in the budgets of the constituent entities of the Russian Federation - provided that these expenses are part of the costs of implementing the corresponding regional target programs, as well as on the basis of proposals from the executive authorities of the constituent entities of the Russian Federation.

3. Development, consideration and approval of investment projects financed from the federal budget are carried out in accordance with the legislation of the Russian Federation in the manner prescribed for federal target programs. Lists of investment projects financed from the federal budget form federal investment programs.

4. The procedure for financing investment projects at the expense of the federal budget is determined by the Government of the Russian Federation, and the procedure for financing investment projects at the expense of the budgets of the constituent entities of the Russian Federation - by the executive authorities of the respective constituent entities of the Russian Federation. Lists of investment projects financed from the budgets of the constituent entities of the Russian Federation form regional investment programs.

5. Decisions on the use of federal budget funds to finance investment projects and (or) investment programs carried out by the Russian Federation jointly with foreign states are made after the Russian Federation has concluded the relevant interstate agreements.

6. Placing orders for contractors construction works for state needs at the expense of the federal budget and funds from the budgets of the constituent entities of the Russian Federation in the implementation of relevant investment projects is carried out by state customers through tenders in accordance with the legislation of the Russian Federation.

7. Control over the targeted and effective use of federal budget funds allocated for capital investments, in accordance with the legislation of the Russian Federation, is exercised by the Accounts Chamber of the Russian Federation, as well as by the federal executive authorities authorized to do so. Control over the targeted and effective use of funds from the budgets of the constituent entities of the Russian Federation shall be exercised by the bodies authorized for this by the respective constituent entities of the Russian Federation.

Federal Law No. 215-FZ of July 24, 2007 set forth Article 14 of this Federal Law in new edition

Federal Law No. 232-FZ of December 18, 2006 reworded Article 14 of this Federal Law, which shall enter into force on January 1, 2007.

Federal Law No. 122-FZ of August 22, 2004 amended Clause 2 of Article 14 of this Federal Law.The amendments shall enter into force on January 1, 2005.

2. Inspection of investment projects, the financing of which is planned to be carried out in whole or in part at the expense of the federal budget, for the effectiveness of the use of the federal budget funds allocated for capital investments, is carried out by the federal executive body performing the functions of developing public policy and legal regulation in the field of investment activities.

3. Estimated cost investment projects, the financing of which is planned to be carried out in full or in part at the expense of the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets, is subject to verification for the reliability of the use of funds allocated for capital investments of the respective budgets in the manner prescribed by the regulatory legal acts of the Government of the Russian Federation, regulatory legal acts of the constituent entities of the Russian Federation, municipal legal acts.

Chapter IV. State guarantees of the rights of subjects of investment activity and protection of capital investments

Federal law of January 2, 2000 No. 22-FZ, Article 15 of this Federal Law is reworded

1. The state, in accordance with this Federal Law, other federal laws and other regulatory legal acts of the Russian Federation, the laws of the constituent entities of the Russian Federation and other regulatory legal acts of the constituent entities of the Russian Federation, guarantees to all subjects of investment activity, regardless of the form of ownership:

the right to appeal to a court against decisions and actions (inaction) of state authorities, local authorities and their officials;

protection of capital investments.

2. In the event that new federal laws and other regulatory legal acts of the Russian Federation come into force that change the size of import customs duties (with the exception of special types of duties caused by the application of measures to protect the economic interests of the Russian Federation when carrying out foreign trade in goods in accordance with the legislation Of the Russian Federation), federal taxes (excluding excise taxes, value added tax on goods produced in the Russian Federation) and contributions to state non-budgetary funds (excluding contributions to the Pension Fund of the Russian Federation), or are introduced into existing federal laws and other regulatory legal acts of the Russian Federation, amendments and additions that lead to an increase in the aggregate tax burden on the investor's activities in the implementation of a priority investment project on the territory of the Russian Federation or establish a regime of prohibitions and restrictions in relation to the implementation of capital investments in the territory of the Russian Federation in comparison with the total tax burden and the regime in force in accordance with federal laws and other regulatory legal acts of the Russian Federation on the day of the start of financing the priority investment project, then such new federal laws and other regulatory legal acts of the Russian Federation, and also, changes and additions made to the current federal laws and other regulatory legal acts of the Russian Federation are not applied during the periods specified in paragraph 3 of this article in relation to an investor carrying out a priority investment project, provided that the goods imported into the customs territory The Russian Federation by the investor, are used intended purpose for the implementation of a priority investment project.

3. Stability for an investor carrying out an investment project, the conditions and regime specified in this article, is guaranteed during the payback period of the investment project, but no more than seven years from the date of the start of financing of the specified project. The differentiation of the payback periods of investment projects depending on their types is determined in the manner established by the Government of the Russian Federation.

4. In exceptional cases, when an investor implements a priority investment project in the field of production or creation of transport or other infrastructure, the payback period of which exceeds seven years, the Government of the Russian Federation makes a decision to extend for the said investor the validity period of the conditions and regime specified in paragraph 2 of this article ...

5. The provisions of paragraph 2 of this article do not apply to changes and additions that are made to legislative acts Of the Russian Federation, or new federal laws and other regulatory legal acts of the Russian Federation being adopted in order to protect the foundations of the constitutional order, morality, health, rights and legitimate interests of others, to ensure the country's defense and state security.

6. The Government of the Russian Federation:

establishes criteria for assessing changes in unfavorable for an investor carrying out a priority investment project on the territory of the Russian Federation, in relation to the conditions for the collection of import customs duties, federal taxes and contributions to state extra-budgetary funds, the regime of prohibitions and restrictions on capital investments in the territory of the Russian Federation;

approves the procedure determining the day of the start of financing the investment project, including with the participation of foreign investors;

approves the procedure for registering priority investment projects;

exercises control over the fulfillment by the investor of his obligations to implement the priority investment project within the time frames specified in paragraphs 3 and 4 of this article.

If the investor fails to fulfill the obligations specified in part one of this clause, he loses the benefits provided to him in accordance with this article. The amount of funds not paid as a result of the provision of these benefits shall be refunded in accordance with the procedure established by law Russian Federation.

1. Capital investments can be:

nationalized only on condition of preliminary and equivalent compensation by the state for losses caused to subjects of investment activity, in accordance with the Constitution of the Russian Federation, the Civil Code of the Russian Federation;

requisitioned by decision government agencies in the cases, in the manner and on the conditions that are determined by the Civil Code of the Russian Federation.

2. Capital investment insurance is carried out in accordance with the legislation of the Russian Federation.

1. In case of violation of the requirements of the legislation of the Russian Federation, the terms of the agreement and (or) the state contract, the subjects of investment activity shall be liable in accordance with the legislation of the Russian Federation.

2. Disputes related to investment activities carried out in the form of capital investments shall be resolved in accordance with the procedure established by the legislation of the Russian Federation, international treaties of the Russian Federation.

1. Termination or suspension of investment activities carried out in the form of capital investments shall be carried out in accordance with the procedure established by the legislation of the Russian Federation.

2. The procedure for reimbursing losses to subjects of investment activities in the event of termination or suspension of investment activities carried out in the form of capital investments is determined by the legislation of the Russian Federation and concluded agreements and (or) government contracts.

Chapter V. Fundamentals of regulation of investment activities carried out in the form of capital investments by local governments

Federal Law No. 19-FZ of February 2, 2006 amended Article 19 of this Federal Law

1. Regulation by local governments of investment activities carried out in the form of capital investments provides for:

1) creation of favorable conditions in municipalities for the development of investment activities carried out in the form of capital investments by:

establishing incentives for the subjects of investment activity in the payment of local taxes;

protecting the interests of investors;

granting to subjects of investment activity preferential conditions for the use of land and other natural resources that are in municipal ownership that do not contradict the legislation of the Russian Federation;

expanding the use of funds of the population and other extra-budgetary sources of financing housing construction and construction of social and cultural facilities;

2) direct participation of local governments in investment activities carried out in the form of capital investments by:

development, approval and financing of investment projects carried out by municipalities;

allocation of funds from local budgets to finance investment projects in the manner prescribed by the legislation of the Russian Federation on placing orders for the supply of goods, performance of work, provision of services for state and municipal needs. The placement of these funds is carried out on a returnable and urgent basis with the payment of interest for their use in the amount determined by the regulatory legal acts on local budgets, or on the condition of fixing in municipal ownership the corresponding part of the shares of the joint-stock company being created, which are sold after a certain period of time on the securities market with the direction of proceeds from sales to the revenues of local budgets;

examination of investment projects in accordance with the legislation of the Russian Federation;

issue of municipal loans in accordance with the legislation of the Russian Federation;

involvement in the investment process of temporarily suspended and mothballed construction projects and objects that are in municipal ownership.

2. Bodies of local self-government shall provide, on a competitive basis, municipal guarantees for investment projects at the expense of local budgets. The procedure for providing municipal guarantees at the expense of local budgets is approved by the representative body of local self-government in accordance with the legislation of the Russian Federation.

3. The costs of financing investment activities carried out in the form of capital investments by local governments are provided for by local budgets. Control over the targeted and effective use of funds from local budgets allocated for capital investments is carried out by bodies authorized by representative bodies of local self-government.

4. In the case of participation of local governments in financing investment projects carried out by the Russian Federation and the constituent entities of the Russian Federation, the development and approval of these investment projects shall be carried out in agreement with the local government.

5. When carrying out investment activities, local self-government bodies have the right to interact with local self-government bodies of other municipalities, including by combining their own and borrowed funds on the basis of an agreement between them and in accordance with the legislation of the Russian Federation.

6. Regulation by local governments of investment activities carried out in the form of capital investments may be carried out using other forms and methods in accordance with the legislation of the Russian Federation.

Local self-government bodies, within the limits of their powers in accordance with this Federal Law, other federal laws and other regulatory legal acts of the Russian Federation, laws of the constituent entities of the Russian Federation and other regulatory legal acts of constituent entities of the Russian Federation, guarantee to all subjects of investment activity:

ensuring equal rights in the implementation of investment activities;

publicity in the discussion of investment projects;

stability of the rights of subjects of investment activity.

Chapter VI. Final provisions

In connection with the adoption of this Federal Law, to declare invalid in the part of the norms that contradict this Federal Law:

Law of the RSFSR "On investment activity in the RSFSR" (Bulletin of the Congress of People's Deputies of the RSFSR and the Supreme Soviet of the RSFSR, 1991, No. 29, article 1005);

Resolution of the Supreme Soviet of the RSFSR "On the Enactment of the Law of the RSFSR" On Investment Activity in the RSFSR "(Bulletin of the Congress of People's Deputies of the RSFSR and the Supreme Soviet of the RSFSR, 1991, N 29, Article 1006);

Article 5 of the Federal Law "On Amendments and Additions to Legislative Acts of the Russian Federation in Connection with the Adoption of the Laws of the Russian Federation" On Standardization "," On Ensuring the Uniformity of Measurements "," On Certification of Products and Services "(Collected Legislation of the Russian Federation, 1995, No. 26, Article 2397).

This Federal Law shall enter into force on the day of its official publication.

The President of the Russian Federation, the Government of the Russian Federation to bring their legal acts in line with this Federal Law.

The president

Of the Russian Federation B. Yeltsin

Moscow Kremlin

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Document's name:	(as amended on December 25, 2018)
Document Number:	39-FZ
Type of document:	the federal law
Host body:	The State Duma
Status:	Acting
Published:	Russian newspaper N 41-42, 04.03.99 Vedomosti Federal Assembly, N 8, 11.03.99
Date of adoption:	February 25, 1999
Effective date:	04 March 1999
Revision date:	25 december 2018

This document is amended on the basis of Federal Law dated 02.08.2019 N 259-FZ from January 1, 2020.

Investment activity in the Russian Federation carried out in the form of capital investments

THE RUSSIAN FEDERATION

THE FEDERAL LAW

Investment activity in the Russian Federation carried out in the form of capital investments

Document with changes made:
(Russian newspaper, N 6, 01/11/2000);
(Rossiyskaya Gazeta, N 188, 08/31/2004) (see the order of entry into force);
(Russian newspaper, N 25, 08.02.2006);
Federal Law of December 18, 2006 N 232-FZ (Parliamentary Gazette, N 214-215, December 21, 2006) (see the procedure for entry into force);
(Russian newspaper, N 164, July 31, 2007);
(Rossiyskaya Gazeta, N 133, 06/21/2010) (see the order of entry into force);
(Russian newspaper, N 163, 26.07.2010);
(Rossiyskaya Gazeta, N 159, July 22, 2011) (see the order of entry into force);
(Official Internet portal of legal information www.pravo.gov.ru, 07.12.2011) (see the order of entry into force);
(The official Internet portal of legal information www.pravo.gov.ru, 12/14/2011) (see the order of entry into force);
(The official Internet portal of legal information www.pravo.gov.ru, 12/30/2013) (see the order of entry into force);
(Official Internet portal of legal information www.pravo.gov.ru, 04.07.2016, N 0001201607040166) (see the order of entry into force);
(Official Internet portal of legal information www.pravo.gov.ru, 26.07.2017, N 0001201707260042);
Federal Law of December 25, 2018 N 478-FZ (Official Internet portal of legal information www.pravo.gov.ru, 25.12.2018, N 0001201812250106).
____________________________________________________________________

This Federal Law defines the legal and economic foundations of investment activities carried out in the form of capital investments on the territory of the Russian Federation, and also establishes guarantees of equal protection of the rights, interests and property of subjects of investment activities carried out in the form of capital investments, regardless of the form of ownership.

Chapter I. General Provisions

Article 1. Basic concepts

For the purposes of this Federal Law, the following basic concepts are used:

investments - monetary funds, securities, other property, including property rights, other rights that have a monetary value, invested in objects of entrepreneurial and (or) other activities in order to make a profit and (or) achieve another useful effect;

investment activity - investment and implementation of practical actions in order to obtain profit and (or) achieve another useful effect;

capital investments - investments in fixed assets (fixed assets), including the costs of new construction, reconstruction and technical re-equipment of existing enterprises, the acquisition of machinery, equipment, tools, inventory, design and survey work and other costs (paragraph as amended by effective from July 22, 2011 by the Federal Law of July 18, 2011 N 215-FZ;

investment project - a justification of the economic feasibility, volume and timing of capital investments, including the necessary project documentation developed in accordance with the legislation of the Russian Federation, as well as a description of practical actions for making investments (business plan) (paragraph as amended from August 11, 2007 by the Federal Law of July 24, 2007 N 215-FZ; as amended by the Federal Law of July 19, 2011 N 248-FZ;

priority investment project - an investment project, the total volume of capital investments in which complies with the requirements of the legislation of the Russian Federation, included in the list approved by the Government of the Russian Federation (the paragraph is additionally included from January 11, 2000 by Federal Law No. 22-FZ of January 2, 2000);

the payback period of the investment project is the period from the day the financing of the investment project starts until the day when the difference between the accumulated amount of net profit with depreciation deductions and the volume of investment costs becomes positive (the paragraph is additionally included from January 11, 2000 by Federal Law No. 22 of January 2, 2000 -FZ);

aggregate tax burden - the estimated total amount of funds payable in the form of federal taxes (excluding excise taxes, value added tax on goods produced in the Russian Federation) and contributions to state non-budgetary funds (excluding contributions to the Pension Fund of the Russian Federation) an investor carrying out an investment project on the day the investment project starts financing.
(The paragraph is additionally included from January 11, 2000 by Federal Law of January 2, 2000 N 22-FZ; as amended by Federal Law of December 6, 2011 N 409-FZ.

Article 2. Relations governed by this Federal Law

This Federal Law applies to relations associated with investment activities carried out in the form of capital investments.

This Federal Law does not apply to relations associated with investments in banks and other credit organizations, as well as in insurance organizations, which are regulated, respectively, by the legislation of the Russian Federation on banks and banking activities and the legislation of the Russian Federation on insurance, as well as to relations that are related with the attraction of funds from citizens and legal entities for shared construction apartment buildings and (or) other real estate objects on the basis of an agreement for participation in shared construction and are regulated by the Federal Law of December 30, 2004 N 214-FZ "On Participation in Shared Construction of Apartment Buildings and Other Real Estate Objects and on Amendments to Certain Legislative Acts of the Russian Federation" (part was additionally included from January 11, 2000 by the Federal Law of January 2 2000 N 22-FZ; supplemented from June 21, 2010 by Federal Law of June 17, 2010 N 119-FZ.

Article 3. Objects of capital investments

1. Objects of capital investment in the Russian Federation are various types of newly created and (or) modernized property in private, state, municipal and other forms of ownership, with the exceptions established by federal laws.

2. Capital investments in objects, the creation and use of which do not comply with the legislation of the Russian Federation, are prohibited (clause as amended by Federal Law No. 248-FZ of July 19, 2011).

3. An object of investment activity, the construction of which is carried out with the involvement of extra-budgetary sources of financing for land plot, which is in state or municipal ownership, under an agreement concluded with a government body, a local government body, a state or municipal institution, or unitary enterprise before January 1, 2011 and providing for the distribution of the area of the corresponding object of investment activity between the parties of this agreement, is recognized shared ownership parties to this agreement until state registration ownership rights to this object in accordance with Article 24_2 of the Federal Law of July 21, 1997 N 122-FZ "On state registration of rights to real estate and transactions with it", taking into account the distribution of shares provided for by this agreement.

State registration of the share ownership right to these unfinished investment objects is not required.
Federal Law of December 12, 2011 N 427-FZ)

Article 4. Subjects of investment activities carried out in the form of capital investments

2. Investors make capital investments on the territory of the Russian Federation using their own and (or) borrowed funds in accordance with the legislation of the Russian Federation. Investors can be individuals and legal entities created on the basis of an agreement on joint activities and not having the status of a legal entity of an association of legal entities, state bodies, local government bodies, as well as foreign business entities (hereinafter referred to as foreign investors).

3. Customers - individuals and legal entities authorized by investors who implement investment projects. At the same time, they do not interfere in entrepreneurial and (or) other activities of other subjects of investment activity, unless otherwise provided by an agreement between them. Customers can be investors.

4. Contractors - individuals and legal entities who perform work under a work contract and (or) a state or municipal contract concluded with customers in accordance with. Contractors are required to have a license to carry out those types of activities that are subject to licensing in accordance with federal law (clause supplemented from February 8, 2006 by Federal Law No. 19-FZ of February 2, 2006.

5. Users of capital investment objects - individuals and legal entities, including foreign ones, as well as state bodies, local self-government bodies, foreign states, international associations and organizations for which these objects are created. Investors can be users of capital investment objects.

6. A subject of investment activity has the right to combine the functions of two or more entities, unless otherwise provided by an agreement and (or) a government contract concluded between them.

Article 5. Activities of foreign investors on the territory of the Russian Federation

Chapter II. Legal and economic foundations of investment activities carried out in the form of capital investments

Article 6. Investor rights

Investors have equal rights to:

implementation of investment activities in the form of capital investments, with the exceptions established by federal laws;

possession, use and disposal of capital investment objects and the results of capital investments made;

control over the targeted use of funds allocated for capital investments;

exercise of other rights stipulated by the agreement and (or) state contract in accordance with the legislation of the Russian Federation.

Article 7. Obligations of subjects of investment activity

Subjects of investment activity are obliged to:

carry out investment activities in accordance with international treaties of the Russian Federation, federal laws and other regulatory legal acts of the Russian Federation, laws of the constituent entities of the Russian Federation and other regulatory legal acts of constituent entities of the Russian Federation and local authorities (the paragraph was supplemented from January 1, 2005 by the Federal Law of August 22 2004 N 122-FZ: as amended by the Federal Law of July 19, 2011 N 248-FZ;

comply with the requirements of state bodies and their officials, which do not contradict the norms of the legislation of the Russian Federation;

use funds allocated for capital investments for their intended purpose.

Article 8. Relations between subjects of investment activity

2. The terms of agreements and (or) government contracts concluded between the subjects of investment activity remain in force for the entire period of their validity, except for the cases provided for by this Federal Law and other federal laws.

Article 9. Sources of financing capital investments

Funding of capital investments is carried out by investors at the expense of their own and (or) borrowed funds.

Article 10. Interaction of state power bodies of the Russian Federation, state power bodies of the constituent entities of the Russian Federation and local self-government bodies in investment activities carried out in the form of capital investments

Article 10_1. Features of lease agreements for a land plot concluded in the framework of investment activities carried out in the form of capital investments

1. A lease agreement for a land plot concluded in the framework of investment activities carried out in the form of capital investments for the construction (creation) of a real estate object, including apartment building(hereinafter - the lease agreement for the land plot), it may be envisaged to conclude an additional agreement on the transfer to the lessor of a part of the premises in the newly created real estate object in accordance with the distribution between them established by the parties to the agreement total area such a property. The provisions of this article do not apply if the lessors are the Russian Federation, constituent entities of the Russian Federation, municipalities.

2. The essential conditions of the land plot lease agreement specified in paragraph 1 of this article, in addition to those established by the legislation of the Russian Federation for the corresponding type of agreement, are:

1) the obligation of the person with whom a land plot lease agreement has been concluded to ensure the transfer, based on the results of construction, of a certain share of the total area of residential and (or) non-residential premises to the lessor in accordance with the agreement provided for in subparagraph 3 of this paragraph, the maximum period for fulfilling such an obligation;

2) the share of the total area of residential and (or) non-residential premises, which must be transferred in accordance with subparagraph 1 of this paragraph;

3) the obligation of the parties to the lease of the land plot within three months from the date of receipt of the building permit to conclude an additional agreement to the lease of the land plot, containing a description of specific residential and (or) non-residential premises, indicating their location on the plan of the real estate object being created and the planned area of such premises in relation to each premises subject to transfer to the lessor by the person who entered into a land lease agreement, after such person has received permission to commission the facility, including the name and (or) purpose of the premises under construction, the number of the floor on which such a premise will be located ( if the premises are part of an apartment building under construction or other multi-storey building, including a building with underground floors), and the room number (if any);

4) the obligation of the person with whom a land plot lease agreement is concluded not to dispose of residential and (or) non-residential premises (rights to residential and (or) non-residential premises), which are not subject to transfer to the lessor in accordance with subparagraph 1 of this paragraph;

Chapter III. State regulation of investment activities carried out in the form of capital investments

Article 11. Forms and methods of state regulation of investment activities carried out in the form of capital investments

1. State regulation of investment activities carried out in the form of capital investments is carried out by the state authorities of the Russian Federation and the state authorities of the constituent entities of the Russian Federation.

2. Federal government bodies to regulate investment activities carried out in the form of capital investments, use the following forms and methods (paragraph as amended by the Federal Law of August 22, 2004 N 122-FZ:

1) creation of favorable conditions for the development of investment activities carried out in the form of capital investments by:

improving the tax system, the mechanism for calculating depreciation and the use of depreciation deductions;

the establishment of special tax regimes for the subjects of investment activity that are not of an individual nature;

protecting the interests of investors;

providing subjects of investment activity with preferential conditions for the use of land and other natural resources that do not contradict the legislation of the Russian Federation;

creation and development of a network of information and analytical centers carrying out regular ratings and publication of ratings of investment entities;

taking measures to stop and prevent violations of the antimonopoly legislation of the Russian Federation;
(Paragraph as amended by Federal Law No. 205-FZ of July 26, 2017.

expanding the possibilities of using collateral in lending;

development of financial leasing in the Russian Federation;

revaluation of fixed assets in accordance with inflation rates;

creating opportunities for the subjects of investment activities to form their own investment funds;

development and implementation of state policy and legal regulation in the field of rationing and pricing in design and construction;
(The paragraph is additionally included from January 1, 2017 by the Federal Law of July 3, 2016 N 369-FZ)

2) direct participation of the state in investment activities carried out in the form of capital investments by:

development, approval and financing of investment projects carried out by the Russian Federation jointly with foreign states, as well as investment projects financed from the federal budget (paragraph as amended by Federal Law of August 22, 2004 N 122- FZ;

the annual formation of the federal targeted investment program for the next financial year and the planning period, approved by the federal executive body in charge of developing state policy and legal regulation in the field of investment activities, and its implementation in the manner established by the Government of the Russian Federation (paragraph as amended entered into force on August 6, 2010 by the Federal Law of July 23, 2010 N 184-FZ;

the paragraph has become invalid since January 1, 2005 - Federal Law of August 22, 2004 N 122-FZ;

protection of Russian organizations from the supply of obsolete and material-intensive, energy-intensive and unscientific technologies, equipment, structures and materials (paragraph as amended by Federal Law No. 122-FZ of August 22, 2004);

the paragraph has become invalid since October 21, 2011 - Federal Law of July 19, 2011 N 248-FZ;

issue of bond loans, guaranteed target loans;

involvement in the investment process of temporarily suspended and mothballed construction projects and state-owned facilities;

granting concessions to Russian and foreign investors based on the results of tenders (auctions and tenders) in accordance with the legislation of the Russian Federation.

2_1. State authorities of the constituent entities of the Russian Federation can use the following forms and methods to regulate investment activities carried out in the form of capital investments:

development, approval and implementation of inter-municipal investment projects and investment projects for objects of state property of the constituent entities of the Russian Federation, financed from the budgets of the constituent entities of the Russian Federation;

examination of investment projects in accordance with the legislation;

provision on a competitive basis of state guarantees for investment projects at the expense of the budgets of the constituent entities of the Russian Federation. The procedure for providing state guarantees at the expense of the budgets of the constituent entities of the Russian Federation is determined by the laws of the respective constituent entities of the Russian Federation;

the paragraph became invalid from January 1, 2014 - Federal Law of December 28, 2013 N 396-FZ;

issue of bonded loans of the constituent entities of the Russian Federation, guaranteed target loans;

involvement in the investment process of temporarily suspended and mothballed construction projects and objects owned by the constituent entities of the Russian Federation.
(Clause is additionally included from January 1, 2005 by Federal Law of August 22, 2004 N 122-FZ)

Article 12. State regulation of investment activities carried out in the form of capital investments in emergencies

In the event of emergencies in the territory of the Russian Federation, the activities of subjects of investment activity that find themselves in an emergency zone are carried out in accordance with the legislation of the Russian Federation.

Article 13. The procedure for making decisions on the implementation of state capital investments

1. Decisions on the implementation of state capital investments are made by state authorities in accordance with the legislation of the Russian Federation.

2. Expenditures for financing public capital investments are provided for:

6. Conclusion of state contracts, other contracts for the purpose of construction, reconstruction, including reconstruction with elements of restoration, technical re-equipment of facilities capital construction state property, or the acquisition of objects real estate in state property when implementing relevant investment projects, it is carried out in the manner prescribed by the legislation of the Russian Federation on the contract system in the field of procurement of goods, works, services to meet state and municipal needs.
(Clause as amended by Federal Law of December 28, 2013 N 396-FZ.

Article 14. Verification of the effectiveness of investment projects financed in whole or in part from the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets, and the reliability of their estimated cost

1. Investment projects, the financing of which is planned to be carried out in whole or in part at the expense of the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets, are subject to verification for the effectiveness of the use of funds allocated for capital investments of the respective budgets in the cases and in the manner established respectively by the regulatory legal acts of the Government of the Russian Federation, regulatory legal acts of the constituent entities of the Russian Federation, municipal legal acts.
____________________________________________________________________
Inspection in accordance with paragraph 1 of this article (as amended by Federal Law No. 215-FZ of July 24, 2007) of investment projects, financing of which in whole or in part at the expense of the corresponding budgets of the Russian Federation began before January 1, 2009, is not carried out -.
____________________________________________________________________

2. Inspection of investment projects, the financing of which is planned to be carried out in whole or in part at the expense of the federal budget, for the effectiveness of the use of funds allocated for capital investments from the federal budget, is carried out by the federal executive body responsible for the development of state policy and legal regulation in the field of investment activities.

3. Clause has ceased to be effective from January 1, 2017 - Federal Law of July 3, 2016 N 369-FZ ..
(Article as amended by the Federal Law of July 24, 2007 N 215-FZ

Chapter IV. State guarantees of the rights of subjects of investment activity and protection of capital investments

Article 15. State guarantees of the rights of subjects of investment activity

the right to appeal to a court against decisions and actions (inaction) of state authorities, local authorities and their officials;

protection of capital investments.

2. In the event that new federal laws and other regulatory legal acts of the Russian Federation come into force that change the size of federal taxes (with the exception of excise taxes, value added tax on goods produced in the territory of the Russian Federation) and contributions to state extra-budgetary funds (for excluding contributions to the Pension Fund of the Russian Federation), or amendments and additions are made to the current federal laws and other regulatory legal acts of the Russian Federation, which lead to an increase in the aggregate tax burden on the investor's activities in the implementation of a priority investment project in the Russian Federation or establish a prohibition regime and restrictions on the implementation of capital investments on the territory of the Russian Federation in comparison with the total tax burden and the regime in force in accordance with federal laws and other regulatory legal acts of the Russian Federation on the day of the start of finance of the priority investment project, then such new federal laws and other regulatory legal acts of the Russian Federation, as well as amendments and additions to the existing federal laws and other regulatory legal acts of the Russian Federation, are not applied within the periods specified in paragraph 3 of this article, in relation to an investor carrying out a priority investment project, provided that the goods imported into the Russian Federation by the investor are used for their intended purpose for the implementation of the priority investment project.
(Clause as amended by Federal Law of December 6, 2011 N 409-FZ.

5. The provisions of paragraph 2 of this article do not apply to changes and additions that are made to legislative acts of the Russian Federation, or new federal laws and other regulatory legal acts of the Russian Federation that are being adopted in order to protect the foundations of the constitutional order, morality, health, rights and legitimate interests of others. persons, ensuring the defense of the country and the security of the state.

6. The Government of the Russian Federation:

establishes criteria for assessing changes in unfavorable for an investor carrying out a priority investment project on the territory of the Russian Federation, in relation to the conditions for levying federal taxes and contributions to state non-budgetary funds, the regime of prohibitions and restrictions on capital investments in the territory of the Russian Federation;
(Paragraph as amended by Federal Law of December 6, 2011 N 409-FZ.

approves the procedure determining the day of the start of financing the investment project, including with the participation of foreign investors;

approves the procedure for registering priority investment projects;

exercises control over the fulfillment by the investor of his obligations to implement the priority investment project within the time frames specified in paragraphs 3 and 4 of this article.

If the investor fails to fulfill the obligations specified in part one of this clause, he loses the benefits provided to him in accordance with this article. The amount of funds not paid as a result of the provision of these benefits is subject to refund in the manner prescribed by the legislation of the Russian Federation.
(Article as amended by the Federal Law of January 2, 2000 N 22-FZ)

Article 16. Protection of capital investments

1. Capital investments can be:

requisitioned by the decision of state bodies in the cases, procedure and on conditions that are determined by the Civil Code of the Russian Federation.

2. Capital investment insurance is carried out in accordance with the legislation of the Russian Federation.

Article 17. Liability of subjects of investment activity

Article 18. Termination or suspension of investment activities carried out in the form of capital investments

3. An agreement concluded before January 1, 2011 with a state authority, local government, state or municipal institution, or a unitary enterprise and providing for construction, reconstruction on a land plot that is in state or municipal ownership and located within the boundaries of a constituent entity of the Russian Federation - a city federal significance of Moscow or St. Petersburg, an immovable property with the involvement of non-budgetary funding sources and the subsequent distribution of the area of the corresponding immovable property between the parties to this agreement, may be terminated ahead of schedule in unilaterally by a public authority or a local self-government body, a state or municipal institution or a unitary enterprise in the event of a significant violation of the terms of this agreement specified in this article and (or) a significant change in the circumstances from which the parties to this agreement proceeded when concluding it.

This agreement is considered terminated upon the expiration of one month from the date of the notification of the termination of the agreement by the state authority or local government, state or municipal institution or unitary enterprise.

Before the expiration of the specified one month period, the party under this agreement has the right to send to the state authority or local self-government body written objections on the termination of this agreement. In the event that a public authority or local government body receives these objections before the expiration of the specified one month period, this agreement is considered terminated from the day the government or local government sends a notification confirming the earlier decision to terminate this agreement.

A significant violation of the terms of this agreement, according to which it is allowed to be terminated unilaterally by the relevant state authority or local self-government body, state or municipal institution or unitary enterprise, is:

failure to fulfill obligations for the construction, reconstruction of an immovable property within the period provided for by this agreement or the lease agreement for the relevant land plot, or, in the absence of such a term in these agreements, within the period for which the building permit was issued, reconstruction of this object, if the construction readiness the real estate object on the last day of such a period is less than forty percent of the total volume of its construction, reconstruction, provided for by the project documentation approved in the manner prescribed by the legislation of the Russian Federation;

the absence, after five years from the date of the conclusion of this agreement, of a building permit, reconstruction of this immovable property, if this agreement does not provide for a deadline for the completion of construction, reconstruction of this object.

A significant change in the circumstances from which the parties to this agreement proceeded when concluding an agreement, according to which its cancellation is allowed unilaterally by a state authority or local government body, a state or municipal institution or a unitary enterprise, is the impossibility of fulfilling obligations to carry out construction, reconstruction of real estate objects in connection with the impossibility of providing a land plot in accordance with the requirements of the legislation of the Russian Federation, as well as in connection with the presence of encumbrances on the land plot or an immovable property located on it with the rights of third parties that impede the construction, reconstruction of the immovable property.

Termination of this agreement in connection with other significant violations of its conditions and (or) a significant change in the circumstances from which the parties to this agreement proceeded when concluding it is carried out in accordance with civil law.
(Clause is additionally included from February 1, 2012 by Federal Law of December 12, 2011 N 427-FZ)

4. With respect to obligations arising from an agreement concluded before January 1, 2011 with a state authority, local government, state or municipal institution or unitary enterprise and providing for construction, reconstruction on a land plot that is in state or municipal ownership and located in borders of a constituent entity of the Russian Federation - a city of federal significance Moscow or St. Petersburg, an immovable property with the involvement of extra-budgetary sources of financing and the subsequent distribution of the area of the corresponding immovable property between the parties to this agreement, including upon its termination, compensation for losses, including lost profits, by the parties this agreement is not allowed, except for the case specified in paragraph 5 of this article. Upon its termination by a public authority, local government, state or municipal institution, or a unitary enterprise unilaterally, the other parties to this agreement are compensated for the documented direct costs of fulfilling obligations under it, on the amount of which interest is accrued in the manner prescribed by Article 395 of the Civil Code of the Russian Federation. Federation.
(Clause additionally included from December 14, 2011 by Federal Law of December 12, 2011 N 427-FZ; as amended by Federal Law of December 28, 2013 N 396-FZ.

5. With respect to obligations arising from an agreement concluded before January 1, 2011 with the federal executive body, the federal government agency or by a federal state unitary enterprise and providing for the construction, reconstruction on a land plot owned by the Russian Federation and located within the boundaries of a constituent entity of the Russian Federation - a city of federal significance Moscow or St. Petersburg, an immovable property with the involvement of non-budgetary funding sources and the subsequent distribution of the area of the corresponding object real estate between the parties to this agreement upon its termination by agreement of the parties, the Government of the Russian Federation has the right to decide on the determination of the amount of losses under the obligations arising from this agreement.
(Clause is additionally included from January 1, 2014 by Federal Law of December 28, 2013 N 396-FZ)

Chapter V. Fundamentals of regulation of investment activities carried out in the form of capital investments by local governments

Article 19. Forms and methods of regulation of investment activities carried out in the form of capital investments by local governments

1. Regulation by local governments of investment activities carried out in the form of capital investments provides for:

1) creation of favorable conditions in municipalities for the development of investment activities carried out in the form of capital investments by:

establishing incentives for the subjects of investment activity in the payment of local taxes;

protecting the interests of investors;

expanding the use of funds of the population and other non-budgetary sources of financing for housing construction and the construction of social and cultural facilities;

2) direct participation of local governments in investment activities carried out in the form of capital investments by:

development, approval and financing of investment projects carried out by municipalities;

the paragraph became invalid from January 1, 2014 - Federal Law of December 28, 2013 N 396-FZ.;

examination of investment projects in accordance with the legislation of the Russian Federation;

issue of municipal loans in accordance with the legislation of the Russian Federation;

involvement in the investment process of temporarily suspended and mothballed construction projects and objects that are in municipal ownership.

Article 20. Municipal guarantees of the rights of subjects of investment activity

ensuring equal rights in the implementation of investment activities;

publicity in the discussion of investment projects;

stability of the rights of subjects of investment activity.

Chapter VI. Final provisions

Article 21. On invalidation of certain legislative acts in connection with the adoption of this Federal Law

In connection with the adoption of this Federal Law, to declare invalid in the part of the norms that contradict this Federal Law:

Law of the RSFSR "On investment activity in the RSFSR" (Bulletin of the Congress of People's Deputies of the RSFSR and the Supreme Soviet of the RSFSR, 1991, N 29, art. 1005);

(Collected Legislation of the Russian Federation, 1995, N 26, Art. 2397).

Article 22. Entry into force of this Federal Law

This Federal Law shall enter into force on the day of its official publication.

Article 23. Bringing legal acts in compliance with this Federal Law

The President of the Russian Federation, the Government of the Russian Federation to bring their legal acts in line with this Federal Law.

The president
Russian Federation
B. Yeltsin

Document revision taking into account

changes and additions prepared
JSC "Codex"

On investment activities in the Russian Federation carried out in the form of capital investments (as amended on December 25, 2018)

Document's name:
Document Number:	39-FZ
Type of document:	the federal law
Host body:	The State Duma
Status:	Acting
Published:	Russian newspaper N 41-42, 04.03.99 Collected Legislation of the Russian Federation N 9, 01.03.99, Article 1096 Vedomosti Federal Assembly, N 8, 11.03.99 Vedomosti Federal Assembly, N 8, 11.03.99
Date of adoption:	February 25, 1999
Effective date:	04 March 1999
Revision date:	25 december 2018

"On investment activities in the Russian Federation carried out in the form of capital investments"

with changes and additions, incorporated into the text, according to Federal laws:

dated 02.01.2000 No. 22-FZ, dated 22.08.2004 No. 122-FZ, dated 02.02.2006 No. 19-FZ,

of 18.12.2006 No. 232-FZ, of 24.07.2007 No. 215-FZ, of 17.06.2010 No. 119-FZ,

dated July 23, 2010 No. 184-FZ, dated July 18, 2011 No. 215-FZ, dated July 19, 2011 No. 248-FZ,

dated 06.12.2011 No. 409-FZ, dated 12.12.2011 No. 427-FZ, dated 28.12.2013 No. 396-FZ,

dated 03.07.2016 No. 369-FZ, dated 26.07.2017 No. 205-FZ)

Chapter I. General Provisions

For the purposes of this Federal Law, the following basic concepts are used:

investments- monetary funds, securities, other property, including property rights, other rights that have a monetary value, invested in objects of entrepreneurial and (or) other activities in order to make a profit and (or) achieve another useful effect;

investment activities - investment and implementation of practical actions in order to obtain profit and (or) achieve other beneficial effect;

capital investment - investments in fixed assets (fixed assets), including the costs of new construction, reconstruction and technical re-equipment of existing enterprises, the acquisition of machinery, equipment, tools, inventory, design and survey work and other costs;

investment project - substantiation of the economic feasibility, volume and timing of capital investments, including the necessary project documentation developed in accordance with the legislation of the Russian Federation, as well as a description of practical actions for making investments (business plan);

payback period of an investment project - the period from the day the financing of the investment project starts until the day when the difference between the accumulated amount of net profit with depreciation deductions and the volume of investment costs becomes positive;

- the estimated total amount of funds to be paid in the form of import customs duties, federal taxes (excluding excise taxes, value added tax on goods produced in the territory of the Russian Federation) and contributions to state non-budgetary funds (excluding contributions to the Pension Fund of the Russian Federation) an investor carrying out an investment project on the day the investment project starts financing.

This Federal Law applies to relations associated with investment activities carried out in the form of capital investments.

This Federal Law does not apply to relations associated with investments in banks and other credit organizations, as well as in insurance organizations, which are regulated, respectively, by the legislation of the Russian Federation on banks and banking activities and the legislation of the Russian Federation on insurance, as well as to relations that are related with the attraction of funds from citizens and legal entities for the shared construction of apartment buildings and (or) other real estate on the basis of an agreement for participation in shared construction and are regulated by the Federal Law of December 30, 2004 No. 214-FZ "On participation in shared construction of apartment buildings and other real estate objects and on amendments to some legislative acts of the Russian Federation ".

2. Capital investments in objects, the creation and use of which do not comply with the legislation of the Russian Federation, are prohibited.

3. An object of investment activity, the construction of which is carried out with the involvement of extra-budgetary sources of financing on a land plot that is in state or municipal ownership, under an agreement concluded with a government body, a local government body, a state or municipal institution or a unitary enterprise before January 1, 2011 and providing for the distribution of the area of the corresponding object of investment activity between the parties to this agreement, is recognized as the shared ownership of the parties to this agreement until the state registration of ownership of this object in accordance with Article 24.2 of the Federal Law of July 21, 1997 No. 122-FZ "On state registration of rights to real estate and transactions with it "taking into account the distribution of shares provided for by this agreement.

State registration of the share ownership right to these unfinished investment objects is not required.

2. Investors make capital investments on the territory of the Russian Federation using their own and (or) borrowed funds in accordance with the legislation of the Russian Federation. Investors can be individuals and legal entities created on the basis of an agreement on joint activities and not having the status of a legal entity of an association of legal entities, state bodies, local government bodies, as well as foreign business entities (hereinafter referred to as foreign investors).

6. A subject of investment activity has the right to combine the functions of two or more entities, unless otherwise provided by an agreement and (or) a government contract concluded between them.

Chapter II. Legal and economic foundations of investment activities carried out in the form of capital investments

Investors have equal rights to:

implementation of investment activities in the form of capital investments, with the exceptions established by federal laws;

possession, use and disposal of capital investment objects and the results of capital investments made;

control over the targeted use of funds allocated for capital investments;

exercise of other rights stipulated by the agreement and (or) state contract in accordance with the legislation of the Russian Federation.

Subjects of investment activity are obliged to:

comply with the requirements of state bodies and their officials, which do not contradict the norms of the legislation of the Russian Federation;

use funds allocated for capital investments for their intended purpose.

Funding of capital investments is carried out by investors at the expense of their own and (or) borrowed funds.

Chapter III. State regulation of investment activities carried out in the form of capital investments

2. Federal government bodies to regulate investment activities carried out in the form of capital investments, use the following forms and methods:

1) creation of favorable conditions for the development of investment activities carried out in the form of capital investments by:

improving the tax system, the mechanism for calculating depreciation and the use of depreciation deductions;

the establishment of special tax regimes for the subjects of investment activity that are not of an individual nature;

protecting the interests of investors;

providing subjects of investment activity with preferential conditions for the use of land and other natural resources that do not contradict the legislation of the Russian Federation;

creation and development of a network of information and analytical centers carrying out regular ratings and publication of ratings of investment entities;

taking measures to stop and prevent violations of the antimonopoly legislation of the Russian Federation;

expanding the possibilities of using collateral in lending;

development of financial leasing in the Russian Federation;

revaluation of fixed assets in accordance with inflation rates;

creating opportunities for the subjects of investment activities to form their own investment funds;

development and implementation of state policy and legal regulation in the field of rationing and pricing in design and construction;

2) direct participation of the state in investment activities carried out in the form of capital investments by:

development, approval and financing of investment projects carried out by the Russian Federation jointly with foreign states, as well as investment projects financed from the federal budget;

the annual formation of the federal targeted investment program for the next financial year and the planning period, approved by the federal executive body responsible for the development of state policy and legal regulation in the field of investment activities, and its implementation in the manner established by the Government of the Russian Federation;

paragraph 4 of subparagraph 2 of paragraph 2 of Article 11 is excluded in accordance with Federal Law No. 122-FZ of August 22, 2004;

paragraph 5 of subparagraph 2 of paragraph 2 of Article 11 became invalid from January 1, 2014 in accordance with Federal Law No. 396-FZ of December 28, 2013;

examination of investment projects in accordance with the legislation of the Russian Federation;

protection of Russian organizations from the supply of obsolete and material-intensive, energy-intensive and unscientific technologies, equipment, structures and materials;

paragraph 8 of subparagraph 2 of paragraph 2 of Article 11 has ceased to be in force in accordance with Federal Law No. 248-FZ of July 19, 2011;

issue of bond loans, guaranteed target loans;

involvement in the investment process of temporarily suspended and mothballed construction projects and state-owned facilities;

granting concessions to Russian and foreign investors based on the results of tenders (auctions and tenders) in accordance with the legislation of the Russian Federation.

2.1. State authorities of the constituent entities of the Russian Federation can use the following forms and methods to regulate investment activities carried out in the form of capital investments:

examination of investment projects in accordance with the legislation;

provision on a competitive basis of state guarantees for investment projects at the expense of the budgets of the constituent entities of the Russian Federation. The procedure for providing state guarantees at the expense of the budgets of the constituent entities of the Russian Federation is determined by the laws of the respective constituent entities of the Russian Federation;

paragraph 5 of clause 2.1 of Article 11 became invalid from January 1, 2014 in accordance with Federal Law No. 396-FZ of December 28, 2013;

issue of bonded loans of the constituent entities of the Russian Federation, guaranteed target loans;

involvement in the investment process of temporarily suspended and mothballed construction projects and objects owned by the constituent entities of the Russian Federation.

1. Decisions on the implementation of state capital investments are made by state authorities in accordance with the legislation of the Russian Federation.

2. Expenditures for financing public capital investments are provided for:

6. The conclusion of state contracts, other agreements for the purpose of construction, reconstruction, including reconstruction with elements of restoration, technical re-equipment of capital construction objects of state ownership, or the acquisition of real estate objects into state ownership during the implementation of relevant investment projects is carried out in accordance with the procedure established by the legislation of the Russian Federation. Federation on the contract system in the procurement of goods, works, services to meet state and municipal needs.

Verification of the effectiveness of investment projects financed in whole or in part from the federal budget, funds from the budgets of the constituent entities of the Russian Federation, local budgets, and the reliability of their estimated cost

2. Inspection of investment projects, the financing of which is planned to be carried out in whole or in part at the expense of the federal budget, for the effectiveness of the use of funds allocated for capital investments from the federal budget, is carried out by the federal executive body responsible for the development of state policy and legal regulation in the field of investment activities.

3. Clause 3 of Article 14 became invalid on January 1, 2017 in accordance with Federal Law No. 369-FZ dated July 3, 2016.

Chapter IV. State guarantees of the rights of subjects of investment activity and protection of capital investments

the right to appeal to a court against decisions and actions (inaction) of state authorities, local authorities and their officials;

protection of capital investments.

6. The Government of the Russian Federation:

establishes criteria for assessing changes in unfavorable for an investor carrying out a priority investment project on the territory of the Russian Federation, in relation to the conditions for levying federal taxes and contributions to state non-budgetary funds, the regime of prohibitions and restrictions on capital investments in the territory of the Russian Federation;

approves the procedure determining the day of the start of financing the investment project, including with the participation of foreign investors;

approves the procedure for registering priority investment projects;

exercises control over the fulfillment by the investor of his obligations to implement the priority investment project within the time frames specified in paragraphs 3 and 4 of this article.

If the investor fails to fulfill the obligations specified in part one of this clause, he loses the benefits provided to him in accordance with this article. The amount of funds not paid as a result of the provision of these benefits is subject to refund in the manner prescribed by the legislation of the Russian Federation.

1. Capital investments can be:

requisitioned by decision of state bodies in the cases, in the manner and on the conditions determined by the Civil Code of the Russian Federation.

2. Capital investment insurance is carried out in accordance with the legislation of the Russian Federation.

This agreement is considered terminated upon the expiration of one month from the date of the notification of the termination of the agreement by the state authority or local government, state or municipal institution or unitary enterprise.

Before the expiration of the specified one-month period, the party under this agreement shall have the right to send written objections to the state authority or local self-government body regarding the termination of this agreement. In the event that a public authority or local government body receives these objections before the expiration of the specified one month period, this agreement is considered terminated from the day the government or local government sends a notification confirming the earlier decision to terminate this agreement.

A significant violation of the terms of this agreement, according to which it is allowed to be terminated unilaterally by the relevant state authority or local self-government body, state or municipal institution or unitary enterprise, is:

failure to fulfill obligations for the construction, reconstruction of an immovable property within the period provided for by this agreement or the lease agreement for the relevant land plot, or, in the absence of such a term in these agreements, within the period for which the building permit was issued, reconstruction of this object, if the construction readiness the real estate object on the last day of such a period is less than forty percent of the total volume of its construction, reconstruction, provided for by the project documentation approved in the manner prescribed by the legislation of the Russian Federation;

the absence, after five years from the date of the conclusion of this agreement, of a building permit, reconstruction of this immovable property, if this agreement does not provide for a deadline for the completion of construction, reconstruction of this object.

A significant change in the circumstances from which the parties to this agreement proceeded when concluding an agreement, according to which its cancellation is allowed unilaterally by a state authority or local government body, a state or municipal institution or a unitary enterprise, is the impossibility of fulfilling obligations to carry out construction, reconstruction of real estate objects in connection with the impossibility of providing a land plot in accordance with the requirements of the legislation of the Russian Federation, as well as in connection with the presence of an encumbrance of the land plot or an immovable property located on it with the rights of third parties that impede the construction, reconstruction of the immovable property.

Termination of this agreement in connection with other significant violations of its conditions and (or) a significant change in the circumstances from which the parties to this agreement proceeded when concluding it is carried out in accordance with civil law.

5. With respect to obligations arising from an agreement concluded before January 1, 2011 with a federal executive body, federal state institution or federal state unitary enterprise and providing for construction, reconstruction on a land plot owned by the Russian Federation and located within the boundaries of the subject of the Russian Federation - a city of federal significance Moscow or St. Petersburg, an immovable property with the involvement of extra-budgetary sources of financing and the subsequent distribution of the area of the corresponding immovable property between the parties to this agreement when it is terminated by agreement of the parties, the Government of the Russian Federation has the right to decide on determining the amount of losses on obligations arising from this agreement.

Chapter V. Fundamentals of regulation of investment activities carried out in the form of capital investments by local governments

1. Regulation by local governments of investment activities carried out in the form of capital investments provides for:

1) creation of favorable conditions in municipalities for the development of investment activities carried out in the form of capital investments by:

establishing incentives for the subjects of investment activity in the payment of local taxes;

protecting the interests of investors;

expanding the use of funds of the population and other non-budgetary sources of financing for housing construction and the construction of social and cultural facilities;

2) direct participation of local governments in investment activities carried out in the form of capital investments by:

development, approval and financing of investment projects carried out by municipalities;

paragraph 3 of subparagraph 2 of paragraph 1 of Article 19 has ceased to be effective from January 1, 2014 in accordance with the Federal Law of December 28, 2013 No. 396-FZ;

examination of investment projects in accordance with the legislation of the Russian Federation;

issue of municipal loans in accordance with the legislation of the Russian Federation;

involvement in the investment process of temporarily suspended and mothballed construction projects and objects that are in municipal ownership.

ensuring equal rights in the implementation of investment activities;

publicity in the discussion of investment projects;

stability of the rights of subjects of investment activity.

Chapter VI. Final provisions

In connection with the adoption of this Federal Law, to declare invalid in the part of the norms that contradict this Federal Law:

Law of the RSFSR "On investment activity in the RSFSR" (Bulletin of the Congress of People's Deputies of the RSFSR and the Supreme Soviet of the RSFSR, 1991, No. 29, art. 1005);

This Federal Law shall enter into force on the day of its official publication.

The President of the Russian Federation, the Government of the Russian Federation to bring their legal acts in line with this Federal Law.

26.07

In any country, investment relations must be orderly. In addition, the capabilities and responsibilities of all participants must be clearly articulated. That is why each state is trying to create a high-quality and applicable legal framework. In this article I will talk about the regulations in force in our country.

The Federal Law "On Investment Activity in the Russian Federation Carried out in the Form of Capital Investments" was adopted on February 25, 1999. Since then, 13 amendments have been made to it.

This document was created:

to determine the legal and economic foundations for investment carried out in the form of capital investments;
promoting the protection of rights, assets and providing guarantees to all participants in the investment process.

The Investment Activity Law consists of 6 chapters:

general provisions;
legal and economic bases of activity;
state regulation of activities;
state guarantees stakeholder rights and investment protection;
the basics of regulating the activities of local government bodies;
final provisions.

The Federal Law "On Foreign Investments in the Russian Federation" was adopted on July 9, 1999. It was created to determine the characteristics of the activities carried out in Russia by non-residents.

This regulatory legal act performs the following functions:

promotes admission foreign capital into the Russian economy;
promotes the effective use of innovations and technologies coming from abroad;
provides guarantees to non-residents;
promotes compliance with international law.

It should be noted that the law on foreign investment does not apply to relations that are connected:

with capital investment in banks and other credit organizations, as well as insurance companies;
investing in non-profit organizations to achieve public benefit goals;
implementation of technical and innovative, industrial and production or tourist and recreational activities by residents of special economic zones.

The next investment document is Law No. 156-FZ. It was adopted on November 29, 2001. This normative legal act is intended to regulate relations that are associated with raising money and other property through the placement of shares and the signing of contracts. trust management for combining and nesting them.

According to this law, an investment fund is a property complex that is owned by a joint stock company or individuals (legal entities). He is in charge of Management Company solely in the interests of depositors.

The law consists of 14 chapters, which are designed to regulate operations in the field of investment fund management.

Is not complete list investment laws in force in our country. They also include No. 111-FZ. This normative legal act was adopted on July 24, 2002 and consists of 14 chapters. It regulates shaping operations pension savings and their further investment. In addition, investors are encouraged to familiarize themselves with the Civil, Urban Planning, Land, Tax codes and other documents. After all, every investor must comply with the requirements Russian legislation and only then think about the possible benefits.

Investing is considered a complex and multifaceted phenomenon in a market economy. A huge number of participants interact here, among which individuals (residents, non-residents), enterprises, organizations and the state can be distinguished.

In investment activities, each participant pursues certain goals, however main goal investing is considered to be an increase in capital, expressed in monetary terms.

In the process of investing, certain contradictions often arise, especially in the case when investors cannot agree on one option in resolving certain issues. It is for this reason that a business activity needs a carefully designed legislative framework, which would allow for the management of investment processes within the legal framework.

In any country, economic relations in the field of investment must be orderly. In addition, the opportunities and responsibilities of all participants in the investment process must be clearly articulated. It is for these reasons that the state sets itself the task of forming a high-quality and applicable legislative framework.

Investment legislation is a system of laws that are aimed at regulating one or another aspect of investment. For example, it may be a law, the purpose of which is to regulate investment activities that have arisen between representatives different countries... If the activity of investment institutions is developed in the state, it becomes a necessity for the development of a law regulating processes and relationships.

Investment activities

In the Russian Federation, there is a system of laws covering aspects of economic relations that have arisen in the course of investment transactions. An example of this is Federal Law 39 “On investment activities carried out in the form of capital investments”. This law came into force seventeen years ago and has since been amended twelve times.

The main tasks of creating such a law were:

definition of legal and economic aspects investment carried out in the form of capital investments;

promoting the protection of rights, assets and providing guarantees to all participants in the investment process.

The law consists of five articles that cover all aspects of investment in the form of capital investments. The first article provides basic concepts related to investing.

The second article of the Federal Law "On investment activities [...]" provides information on the scope of the law and on which transactions it does not apply.

The third article gives clear information about who can be attributed to the objects of investment activities related to capital investments. It also highlights information on when capital investment is considered a prohibited operation.

The classification of investment entities is presented in the fourth section. It highlights information about who can be considered an investor, customer, contractor and user of capital investments.

The fifth article is devoted to the peculiarities of capital investment carried out by non-residents.

Foreign investors

The following law on investment activities applies to economic relations arising from the implementation of investment transactions by foreign economic actors... Federal Law 160 "On" has been in effect for sixteen years. It was created to determine the specifics of activities carried out within Russia by non-resident investors.

The law fulfills the following functions:

promotes the flow of foreign capital into the Russian economy;
promotes effective use innovations and technologies from abroad;
provision of guarantees to non-residents carrying out investment operations on the territory of the Russian Federation;
promoting compliance with international investment law.

The law on investments in the Russian Federation made by non-residents is not applied in the regulation of capital investment in development financial intermediaries and organizations related to the humanitarian sphere, registered on the territory of Russia. The law does not apply to the activities of entities registered in a territory with special economic conditions.

The second article explains the basic concepts used in investment activities carried out by foreign economic entities.

The fourth article of the Law provides information on the legal regime of operation of foreign investors and enterprises financed by foreign investors. The article describes the features of the activities of enterprises and their structural units financed by foreign investors. It also defines the concept commercial organization with foreign capital.

According to the fifth article of the Law, all foreign investors claim to receive guarantees to protect their property and income from the consequences of negative situations. The sixth article provides information on guarantees to foreign investors in the use of various forms of investment.

Articles from the seventh to the tenth issue are devoted to guaranteeing foreign investors the protection of rights and property in the event of force majeure situations arising from:

nationalization of enterprises in which foreign capital is invested;
negative changes in market conditions;
controversial situations.

Articles eleven and twelve regulate cash flows associated with the investment activities of foreign entities, as well as their movement within Russia or abroad.

The thirteenth article of the Law on Investments of Foreign Investors regulates the operations of purchasing securities by a foreign investor or organization with foreign capital. The fourteenth article deals with guarantees provided to foreign investors in privatization operations. The next, fifteenth, article provides information on the legal regulation of transactions in the acquisition of tangible assets by a foreign investor.

In the sixteenth and seventeenth articles of the Federal Law on investments made by foreign investors, we are talking about the provision of benefits related to customs payments and benefits provided by other economic entities of the Russian Federation to foreign investors.

The eighteenth article describes the specifics of regulating the actions of foreign investors in the field of competition and compliance with antimonopoly legislation. The next article of the law deals with the insurance by a foreign investor of his property on the territory of the Russian Federation.

The twentieth article is intended to regulate the actions for the creation and liquidation of companies with foreign investment. The following article provides information on the legal regulation of the creation and liquidation of branches of such companies.

The twenty-second article of the law provides information on the requirements for the operation and capital valuation of a branch of a company with foreign investment. The next article highlights the features of the development and implementation of state policy in the field of investment by non-residents.

The twenty-fourth article defines the federal body responsible for the procedure for attracting foreign capital to the economy of the Russian Federation. Articles from twenty-fifth to twenty-eighth number regulate the peculiarities of the application and entry into force of this law.

Social investment

111 - Federal Law "On investing funds to finance the funded part labor pension»Is intended to regulate operations carried out in the formation of pension savings and their possible further investment. The law consists of forty-three articles, designed to determine the features of the implementation of operations for accumulation and investment. pension funds... The law also contains information on the specifics of control over operations for the formation of pension savings by government agencies and society.

Foundations

156 of the Federal Law "On Investment Funds" is intended to regulate economic relations that arose in the field of attracting money or other assets through the placement of shares and the signing of agreements for their management with the aim of their further investment in other economic objects.

By submitting information about investment funds, the federal law forms the concept of an investment fund. According to the law, this is a complex of property owned by joint stock company or to legal entities (individuals). The fund's property is managed in the interests of investors on behalf of the manager.

The Law "On Investment Funds" does not regulate relations in the management of companies that do not have signs of an investment fund.

The law consists of fourteen chapters designed to regulate certain operations in the field of investment fund management.

The second chapter of the Federal Law "On Investment Funds" contains articles regulating the activities of a joint-stock investment fund and its management.

The third chapter provides information on the specifics of activities, property appraisal, conclusion of contracts and management of mutual investment funds.

The fourth chapter of the law contains articles regulating operations with investment units. The fifth chapter provides information on the conditions for the termination of the activities of mutual investment funds.

The sixth chapter of the law contains the basic requirements for the assets of investment funds. The next chapter provides information on the specifics of assessing the net asset value of funds.

The eighth chapter regulates the activities of management companies. The next chapter of the law determines the control over operations with the property of mutual funds and joint stock funds.

Chapter ten of the law regulating the activities of investment funds determines the features of the formation of a register of persons holding investment shares. The next chapter of the law defines the specifics of auditing the performance of joint stock funds and management companies.

The twelfth chapter provides information on the publication of information on the activities of investment funds. The next chapter defines the powers vested in the Bank of Russia and self-governing organizations. The last chapter defines the provisions that represent the final part of the law.

Investment activity in the Russian Federation. Investment Activity Law as amended. Chapter iv. state guarantees of the rights of subjects of investment activity and protection of capital investments

Chapter I. General Provisions

Chapter II. Legal and economic foundations of investment activities carried out in the form of capital investments

Chapter III. State regulation of investment activities carried out in the form of capital investments

Chapter IV. State guarantees of the rights of subjects of investment activity and protection of capital investments

Chapter V. Fundamentals of regulation of investment activities carried out in the form of capital investments by local governments

Chapter VI. Final provisions

Investment activity in the Russian Federation carried out in the form of capital investments

Chapter I. General Provisions

Article 1. Basic concepts

Article 2. Relations governed by this Federal Law

Article 3. Objects of capital investments

Article 4. Subjects of investment activities carried out in the form of capital investments

Article 5. Activities of foreign investors on the territory of the Russian Federation

Chapter II. Legal and economic foundations of investment activities carried out in the form of capital investments

Article 6. Investor rights

Article 7. Obligations of subjects of investment activity

Article 8. Relations between subjects of investment activity

Article 9. Sources of financing capital investments

Article 10. Interaction of state power bodies of the Russian Federation, state power bodies of the constituent entities of the Russian Federation and local self-government bodies in investment activities carried out in the form of capital investments

Article 10_1. Features of lease agreements for a land plot concluded in the framework of investment activities carried out in the form of capital investments

Chapter III. State regulation of investment activities carried out in the form of capital investments

Article 11. Forms and methods of state regulation of investment activities carried out in the form of capital investments

Article 12. State regulation of investment activities carried out in the form of capital investments in emergencies

Article 13. The procedure for making decisions on the implementation of state capital investments

Article 14. Verification of the effectiveness of investment projects financed in whole or in part from the federal budget, the budgets of the constituent entities of the Russian Federation, local budgets, and the reliability of their estimated cost

Chapter IV. State guarantees of the rights of subjects of investment activity and protection of capital investments

Article 15. State guarantees of the rights of subjects of investment activity

Article 16. Protection of capital investments

Article 17. Liability of subjects of investment activity

Article 18. Termination or suspension of investment activities carried out in the form of capital investments

Chapter V. Fundamentals of regulation of investment activities carried out in the form of capital investments by local governments

Article 19. Forms and methods of regulation of investment activities carried out in the form of capital investments by local governments

Article 20. Municipal guarantees of the rights of subjects of investment activity

Chapter VI. Final provisions

Article 21. On invalidation of certain legislative acts in connection with the adoption of this Federal Law

Article 22. Entry into force of this Federal Law

Article 23. Bringing legal acts in compliance with this Federal Law

On investment activities in the Russian Federation carried out in the form of capital investments (as amended on December 25, 2018)

Chapter I. General Provisions

Chapter II. Legal and economic foundations of investment activities carried out in the form of capital investments

Chapter III. State regulation of investment activities carried out in the form of capital investments

Verification of the effectiveness of investment projects financed in whole or in part from the federal budget, funds from the budgets of the constituent entities of the Russian Federation, local budgets, and the reliability of their estimated cost

Chapter IV. State guarantees of the rights of subjects of investment activity and protection of capital investments

Chapter V. Fundamentals of regulation of investment activities carried out in the form of capital investments by local governments

Chapter VI. Final provisions

Investment activities

Foreign investors

Social investment

Foundations