A special tax regime for foreign companies will be introduced on the islands of Oktyabrsky in Kaliningrad Oblast and Russky in the Primorsky Territory. The President has signed the relevant law.

      Legal advice on Russian legislation

      In 2019 the islands of Oktyabrsky in Kaliningrad Oblast and Russky in the Primorsky Territory will become an alternative to foreign offshore companies. Only those foreign companies that invest at least 50 million roubles in Russia will be able to register in these special administrative areas. Such companies will be granted tax benefits and a special regime for currency settlements. Source: Federal Law No. 296-FZ of August 3, 2018