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Minister of Economic Development of Russia: offshore zone in Primorye will work in autumn this year - EastRussia | Far East

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Minister of Economic Development of Russia: offshore zone in Primorye will work in the autumn of this year

Special administrative areas, which the Russian authorities consider as an alternative to foreign offshore zones, will earn on the October and Russian islands in September-October 2018. This was stated by the Minister of Economic Development of Russia Maxim Oreshkin.

As the TASS, the inflow of investments on the islands can exceed one billion dollars. According to one of the initiators of the project - the first deputy head of the faction "United Russia" Viktor Pinsky, the State Duma before the end of the spring session plans to adopt a package of legislative initiatives to create Russian offshore zones.

In special administrative regions, tax and administrative regimes will be established that will allow companies to re-register themselves in Russian jurisdiction in a short time and with a minimum of costs, and with the preservation of rights and obligations in full.