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LLC "ADANIMOV TRADING LIMITED" International Company became the first resident of a Special Administrative Region on Oktyabrsky Island

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On Tuesday, February 5, after the completion of all necessary procedures, t LLC "ADANIMOV TRADING LIMITED" International Company became the first resident of a Special Administrative Region on Oktyabrsky Island (Kaliningrad region). She was assigned the first number in the corresponding register, which, according to federal law, is managed by the management company JSC “Kaliningrad Region Development Corporation”. All registry changes can be found at www.sar.kgd-rdc.ru

Recall that on the basis of the Kaliningrad region Government regulation from January 21, 2019, the powers of the management company of the Special Administrative Region on Oktyabrsky Island were entrusted to JSC “Kaliningrad Region Development Corporation”.

According to 290 and 291-FZ Management Company:

• Takes part in the registration of the International Company;

• Decides on the granting or withdrawal of the status of a participant of the Special Administrative Region;

• Concludes implementation of activities agreements with members of the Special Administrative Region;

• Maintains a register of participants of the Special Administrative Region and provides state authorities with documents confirming the status of participants of the Special Administrative Region;

• Provides overall organizational management and coordination of activities in the Special Administrative Region;

• Provides, if necessary, services necessary for the implementation of the relevant activities (including legal, accounting services) to members of the Special Administrative Region;

• Conducts audits of international companies.

 

It should be noted that the initial package of laws defining the legal status of Special Administrative Regions, their management companies, was signed by the head of state Vladimir Putin on August 3, 2018.

According to him, SAR residents are fully exempt from income tax in the form of dividends and from income tax on the sale of shares of foreign companies. On the territory of such Regions, special regimes of currency regulation and a 5% income tax received by foreign persons in the form of dividends on shares of international holding companies also operate.


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