Where to register? The most popular jurisdictions of the largest Russian companies

Photo: TASS / Stanislav Krasilnikov

Recently, many large business owners have thought about transferring their capital to Russia. There are many reasons for this - this is Vladimir Putin’s intention to fight offshore companies, and Western sanctions, and amnesty for capital for those who transfer their business to the Russian Federation. However, so far a very large proportion of companies have been registered abroad, whose owners are Russian citizens, RBC writes . “International experts estimate assets controlled from offshore companies at $ 20 trillion. What part of the assets of Russian origin are not precisely known. But there is no doubt that their share is large, ”said Deputy Finance Minister Sergei Shatalov in an interview with RBC last summer.

As for statistics, in Russia there are 239 companies out of the 500 largest However, of these 239 companies, 87 are state-owned - they simply cannot choose another country as registration. Therefore, if you remove state-owned companies, there are only 152 private companies that are registered in the Russian Federation. The remaining 183 have chosen other countries as their place of registration. Another 38 companies are registered abroad through the so-called "shell companies". These are Yandex NV, United Company RUSAL and others. It turns out that in private business the ratio of registration in the Russian Federation / registration abroad is 152: 222 not in favor of Russia.

Among all other countries, the Republic of Cyprus is the most popular jurisdiction for domestic business. Then follow the Netherlands and the British Virgin Islands.
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As for the ratio of the revenue of Russian and foreign companies, the ratio here is somewhat different. The total revenue of Russian companies in 2014 is 32.47 trillion rubles, and the total revenue of companies that are registered in all other jurisdictions is 23.57 trillion rubles.

And here again, the influence of state-owned companies becomes obvious, whose total revenue exceeds 24.5 trillion rubles. The main income comes from Gazprom, Rosneft, Sberbank, Russian Railways, VTB, Rosseti and Inter RAO. The total revenue of 136 Cypriot companies is only 9.056 trillion rubles.