The Board of Directors of En + Oleg Deripaska, an energy metallurgical group under US sanctions, approved the transfer of a 100% subsidiary of En + Holding Limited from Cyprus jurisdiction to Russia. This is stated in the message of the group.
The decision was made after the entry into force of the law on special administrative regions (SAR) on the Russian Islands in Primorye and Oktyabrsky in Kaliningrad with a special tax and regulatory regime. The law came into force on August 6.
The message En + notes that the change of jurisdiction will allow the company to take advantage of the new legislation. Residents of inland seas receive the status of international companies. For them, there will be tax preferences and no currency control, and information about the beneficiaries of companies from the ATS will be available only to Russian regulatory authorities and courts.
The Board of Directors of En + also instructed the management to conduct additional analysis of the possible re-registration of the company in the RAA. About the fact that En + is studying the possibility of changing the registration from Jersey to Russian, previously told "Vedomosti" two people close to the company and to one of its shareholders.
"The group was one of the first to support progressive Russian legislation that made it possible to optimize our ownership structure and plans to become one of the first large international Russian companies to take advantage of the new provisions on ATS," said Lord Gregory Barker, Chairman of the Board of En +. are given in the message of the company).
At the same time, he noted that the placement of the company's shares on the London Stock Exchange was and remains an important component in the company's strategy.
En + Holding Limited became the first company to announce plans to move to the Russian ATS. The possibility to re-register in Russian offshore companies was also examined by another company, Deripaska, who was under sanctions, the world's second-largest producer of aluminum UC Rusal, the source of Interfax informed and confirmed to the Vedomosti by a federal official.