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Major holdings want to re-register in Russian offshores, minister says

Certain Russian companies show interest in re-registration

MOSCOW, June 1. /TASS/. Certain major Russian holdings expressed interests in re-registration in Russian offshore territories planned to be established on the Oktyabrsky and Russky Islands, Minister of Economic Development Maxim Oreshkin told reporters on Friday.

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Large businesses show interest in Russia's Kaliningrad offshore zone

"The package of draft laws is ready. We are now at a proactive stage of discussions with major Russian holdings. Some of them show direct interest in re-registration, so we are now working on details the government will be able to offer as amendments for the second reading, so that to fully cater for details related to such re-registration, making it possible for large holdings to re-register from overseas without huge losses and continue doing business in Russia," the minister said.

In mid-May, Prime Minister Dmitry Medvedev said that the Russian government intends to create territories with the special legal regime in the Russky Island in the Far East and the Oktyabrsky Island in the Kaliningrad region, the Russia’s enclave on the Baltic Sea. Oreshkin said in May that a special administrative regime in those islands will resemble the one in the State of Delaware, the offshore zone in the United States.

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