Offshores will be established in Russia

Aug, 06 2018

Offshores residents will receive special status, that provides the preferential tax treatment for the dividends and the mitigation of the restrictions on the currency transactions.

The support of the offshores operation will be managed by the specially established managing company.

Only foreign companies could become an offshore resident. To get the status of the offshore resident the company should be founded before January 01, 2018 and should invest at least 50 million Rubles within 6 months.

The foreign company that intends to become an offshore resident should apply to the managing company for conclusion of a contract.

The total sum of investments is tentatively estimated as more than USD 1 billion.

Many experts note that the main purpose of establishing of the offshores is to return the foreign holding companies controlled by Russian citizens to Russian jurisdiction, and to create the special conditions for the companies that suffered from the anti-Russian sanctions.