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COMPANIES FROM THE BRITISH VIRGIN ISLANDS STARTED TO REGISTER IN SAR ON THE OCTYABRSKY ISLAND

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On Wednesday, March 17, an international company was registered in a special administrative region on the territory of Oktyabrsky Island (Kaliningrad region), which was the first to undergo the redomiciliation procedure directly from the British Virgin Islands.

Recall that as a result of the joint work of the region and federal authorities in February of this year, a Federal Law was signed, specifying a number of provisions on international companies registered in special administrative regions in Kaliningrad Region and Primorsky Krai. Thus, from March 7, 2021, it became possible to re-domicile foreign companies not only from the FATF and Moneyval member states, but also from such popular foreign jurisdictions as Belize, British Virgin Islands, etc.

Thanks to the coordinated work of the Ministry of Economic Development of the Russian Federation with related structures and regions in the direction of improving the conditions for the functioning of special administrative regions of the Kaliningrad Region and Primorsky Krai, the doors were opened for an even larger number of foreign companies wishing to re-register into Russian jurisdiction.

In addition to expanding the geography of countries from which redomiciliation to the Russian SARs is possible, the legislation in this area also provides for the possibility of "transit" re-domiciliation, allowing a foreign company that has already undergone the procedure for changing jurisdictions to be redomiciled into the SAR.

Information about special administrative region on the territory of Oktyabrsky Island (Kaliningrad region), contacts is available at the official website of the management company - russiasar.com.


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