Oleg Deripaska will move to a non-existent island in Kaliningrad

The oligarch structures are planning to leave the island of Jersey and Cyprus, however, the offshore island of October in Kaliningrad does not yet exist.
10.09.2018
Vedomosti
Origin source
More than a month has passed since President Vladimir Putin signed the law on the creation of special administrative regions (SAR) - offshore companies on the Russian islands in Primorye and Oktyabrsky in Kaliningrad. The first to move to Oktyabrsky was UC Rusal and the energy daughter of its main (48.13%) En + shareholder, En + Holding: their boards of directors in mid-August instructed the management to prepare a detailed plan for moving from the islands of Jersey and Cyprus, respectively. But it turned out that there were no October Islands in Kaliningrad.

The very project of moving companies - "an experiment with a lot of problems in the implementation," Ilya Trunin, Deputy Finance Minister, complained on Friday: "To make it clear, I met with Kaliningrad colleagues this morning. They have a problem <...> of a basic level. In the Kaliningrad region there is no October Island, as it turned out. There is no such thing as a geographic object, it does not exist. "

The Oktyabrsky Island exists as a historical district, explains the former vice-premier of the Kaliningrad region Alexander Shenderuk-Zhidkov, one of the developers of the law: "But formally this geographical unit is not really called the Oktyabrsky Island." This is part of the Moscow district of Kaliningrad. When determining the territory of the SAR, the well-known name was used, and it is necessary to determine the boundaries of the region by local acts, says the representative of the Ministry of Economic Development. Now this work is underway, legally the island will be detached by the time the first residents appear, he adds.

 The issue of appropriation of the historically formed name "Ostrovsky Island" has already been submitted to the meeting of the city council on September 12, follows from the published agenda. When discussing the law in the State Duma, it was proposed to allow the regional authorities to determine the territory of the SAR, one of the participants of the discussion said: "But the correction was not taken into account." When the administrative district appears, companies that want to register in this SAR will already be able to do this, says Shenderuk-Zhidkov.

"A lot of problems, and we will carry out this pilot project together," Trunin said. There are still many technical issues to be solved, says the representative of the Ministry of Finance: how to set companies on record after redomitsilatsii (transfer of the company to another jurisdiction), how to keep the register of its tax accounting and how the system as a whole should function.

The creation of SARs is one of the measures to support Russian companies that have fallen into the sanctions lists. Only registered companies abroad can become residents of offshore companies. They must invest in Russia at least 50 million rubles. for half a year after registration. In return, companies are promised low tax rates and mitigation of control. Only the management company, supervisory bodies and courts will be able to access information about the beneficiaries of the SAR residents. Pay taxes on profits from the sale of assets and from the dividends received will not have to, with the paid - 5%.

The authors of the bill were officially deputies and senators from Primorye and the Kaliningrad region. The bill was developed by the Ministry of Economic Development, said his representative earlier. Officially, the creation of the ATS on Russia and the October Islands was first announced in May by Prime Minister Dmitry Medvedev. The bill passed the standard approval procedure, including in the government, the senior lawyer Nektorov, Saveliev & Partners Mikhail Khaletsky is surprised, the legal departments should check the facts, including before signing with the president.

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