The company SkyFall, one of the largest manufacturers of unmanned aerial vehicles in Ukraine, has become the first to receive the status of a resident of Defence City — a special regime created to stimulate the development of the domestic defense industry. SkyFall is known for producing the “Vampir” UAVs and interceptor drones.
This is reported by Business • Media
New Opportunities for Defense Product Manufacturers
Participation in Defence City opens up a number of important advantages for companies. In particular, residents receive exemptions from profit tax on the condition of reinvestment, as well as from land, property, and environmental taxes. Simplified customs procedures have been introduced, along with state support for relocation and enhanced security of production facilities.
State Support and Currency Easing
The Cabinet of Ministers of Ukraine has simplified the document review process for state export control of Defence City residents. This allows for preliminary assessments of international contract projects at the preparation stage.
The National Bank of Ukraine has also decided to ease certain currency restrictions for residents of the new regime. The changes relate to the conditions for purchasing foreign currency for the import of goods, as well as for making cross-border transfers for specific types of transactions.
“Residency in Defence City provides companies with a set of tools aimed at reducing tax and administrative burdens: exemptions from profit tax on the condition of reinvestment, as well as from land, property, and environmental taxes, simplification of customs procedures, and mechanisms for state support of relocation and enhancing the security of production facilities”.