The parent structure of Tinkoff Bank changed jurisdiction from Cyprus to Russia

“International company public joint stock company ”TCS Holding””, created as part of the redomiciliation of TCS Group (the parent structure of Tinkoff Bank (MOEX: TCSG)) from Cyprus to Russia, registered in the special administrative region (SAR) on Russky Island. TKS Holding became the 70th company registered in the SAR in the Far East.

“The redomiciliation of foreign structures of Russian companies into the SAR shows its effectiveness, allowing national companies not only to maintain their public status and shareholder structure, but also to take into account the interests of all categories of investors – Russian and international, increasing the efficiency of corporate business management,” Chairman Tinkoff commented on the completion of the company’s redomiciliation -bank Stanislav Bliznyuk.

General Director of the Far East and Arctic Development Corporation Nikolai Zapryagaev noted that TKS Holding is the first public structure to re-register on Russky Island. “The SAR regime will provide comfortable conditions for the continuation of the company’s effective operation, including as part of the development of its activities in the Far East,” he emphasized.

The fact that TCS Group plans to change the jurisdiction of Cyprus became known in November 2023. The final decision on re-registration from Cyprus to the Russian special administrative region on Russky Island shareholders of TCS Group accepted January 15, 2024. At the beginning of February, the Bank of Russia registered the issue and prospectus of ordinary shares of MCPAO TKS Holding.

What the head of Tinkoff Stanislav Bliznyuk said during an interview is in the material “Tinkoff is a large scientific institute”.