Putin discussed with entrepreneurs the transfer of business to Russian jurisdiction – Kommersant

Presidential press secretary Dmitry Peskov said that Vladimir Putin held a meeting with businessmen on November 15. According to the Kremlin representative, the conversation turned out to be thorough, a number of questions were formulated through the RSPP. Among other things, the president discussed the transfer of companies to Russian jurisdiction.

“There were various speeches, business and representatives of the economic bloc of the government spoke. They discussed possible steps to improve the investment attractiveness of our economy. About creating more than competitive conditions for completing the process of transferring companies here,” Mr. Peskov said during a press call.

As the press secretary clarified, the vast majority of entrepreneurs who took part in the meeting faced illegal treatment abroad. He recalled that the process of transferring business to Russian jurisdiction is now underway.

“So that this process is absolutely perfect, so that businesses do not encounter problems and transfer their companies here, open new jobs, and invest the money they earn in their homeland. This was discussed. Largely from the business side,” explained Mr. Peskov.

Due to sanctions imposed by the West, which complicated transactions between subsidiaries and parent holdings, an increasing number of Russian companies began to change foreign jurisdiction to Russian or friendly countries. So in early November, shareholders of the European Medical Center (EMC) and the retailer Fix Price approved the re-registration of companies from Cyprus to the Special Administrative Region of Russia (SAR) and to Kazakhstan. In August, shareholders of the Mother and Child Group of Companies and Globaltrans Investment PLC approved the move to the Oktyabrsky Island SAR in the Kaliningrad region and the free economic zone Abu Dhabi Global Market (UAE). Plans for redomiciliation were also announced by HeadHunter, Ozon, TCS GroupRusagro and a number of other companies.

Read more about this in the article “Poor Lawyers”.

Mikhail Belyaev