VK is negotiating with the regional authorities on the re-registration (re-domiciliation) of the British Virgin Islands to the Special Administrative Region (SAR) of the Kaliningrad Region (Oktyabrsky Island). This is reported by the newspaper “Vedomosti” with reference to the sources.

VK plans to move to the Kaliningrad region

A VK representative did not comment on these plans for the publication. The government of the Kaliningrad region has not yet ruled on this possibility.

On February 13, the VK Board of Directors approved the redomiciliation of the company from the British Virgin Islands to the Russian Federation. The company explained that, in the current situation, re-registration in the Russian jurisdiction is in the interest of the company and its shareholders.

In August 2018, Russian President Vladimir Putin signed a package of laws providing for the creation of “Russian offshore companies” with special conditions for doing business with foreign companies. Thus, for international holding companies in the SAR, zero income tax is provided on dividends (general rate is 13%), 5% income tax on royalties received (general rate is 20%) and other “flexible” conditions.


anastasia mariana

Source: RB

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