Global Ports re-registered from Cyprus to Russky Island – Kommersant
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Global Ports, the largest operator of container terminals on the Russian market in terms of throughput and container turnover, has completed the process of re-registration from Cyprus to Russian jurisdiction. Now the company is registered in the Special Administrative Region (SAR) – on Russky Island. Interfax drew attention to the changes in the Unified State Register of Legal Entities database.
Changes in the database took place yesterday, December 19th. On Russky Island in the Primorsky Territory, the International Company Joint Stock Company Global Ports Investments (MCAO GPI) was registered.
Global Ports operates five container terminals in Russia, these are Petrolesport, First Container Terminal, Ust-Luga Container Terminal and Moby Dick in the Baltic, and Vostochnaya Stevedoring Company in the Far East. The company also owns two container terminals in Finland – Multi-Link in Helsinki and Kotka, as well as the Yanino Logistics Park dry port near St. Petersburg.
The day before, December 19, President Vladimir Putin signed a law that introduces amendments to the Tax Code that expand preferences for residents of “Russian offshore companies”. In addition to Russky Island, the offshore zone is located on Oktyabrsky Island in the Kaliningrad region. The adopted amendments expand the opportunities for international holding companies to choose forms of investment for reduced income tax rates.
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