Experts of the Council under the President criticized the new mechanism for moving to the SAR

The Presidential Council for the Codification and Improvement of Civil Legislation has criticized a bill allowing the creation of international companies from scratch in the territory of special administrative regions (SAR), i.e., according to the so-called incorporation mechanism (Vedomosti has the conclusion of the council). This format of transferring business from abroad involves the establishment of a new legal entity in the SAR and the rewriting of the property belonging to the foreign holding to it. Initially, the district regime provided only for the mechanism of redomiciliation, i.e., the transfer of the entire – already existing – group from foreign jurisdiction to Russia without the formation of a new company and corporate ties.