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Kaliningrad Region Development Corporation received the management company status in a Special Administrative Region on Island Oktyabrskiy


From Monday, January 21, the JSC “Kaliningrad Region Development Corporation” received the status of a management company in a Special Administrative Region located on the territory of Oktyabrsky Island (Kaliningrad Region). From this day on, it is entitled to provide not only consulting services, but also to carry out a set of measures for the registration, maintenance of the register and the implementation of the activities of residents of the Special Administrative Region.

The Development Corporation received these powers in accordance with the provisions of the current federal legislation and on the basis of a decree of the Government of the Kaliningrad Region.

According to 290 and 291-FZ a management company:

1. Takes part in the registration of an International company;

2. Decides on the granting or withdrawal of the status of a participant in a Special Administrative Region;

3. Concludes agreements on activities implementation with participants of the Special Administrative Region;

4. Keeps the register of participants of the Special Administrative Region and provides the state authorities with documents confirming the status of participants of the special administrative region;

5. Carries out general organizational leadership and coordination of activities in the Special Administrative Region;

6. Provides, if necessary, the participants of the Special Administrative Region with the services necessary for the implementation of the relevant activity (including legal, accounting services);

7. 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.

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

It should be noted that by the end of 2018, 9 foreign companies had filed to the Ministry of Economic Development of the Russian Federation for registration in the Kaliningrad offshore territory. The decision to include the first residents of the Special Administrative Region in the register will be made in late January - early February of this year.

The register of residents, as well as all the necessary information about the legal regime, the possibilities of a Special Administrative Region, is available in the corresponding section of the Kaliningrad Region Development Corporation website.

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