The number of companies in "Russian offshore" will grow 1.5 times in 2024

At the end of 2024, 488 companies were registered in special administrative districts (SADs) on the Russian and Oktyabrsky islands, the press service of the Ministry of Economic Development told Izvestia.

Over the year, 190 participants moved to "Russian offshore" from foreign jurisdictions, and their total number increased almost 1.5 times. Among them are major players - "Yandex", HeadHunter, "Mother and Child".

The number of firms in "Russian offshore" began to grow in 2022 after the introduction of anti-Russian sanctions. Before that, residents appeared slowly - in 2019 there were 22. As the Ministry of Economic Development specified to the editorial board, in 2022, 83 new participants registered in these zones, and in 2023 - 200 companies.

At the same time, the ATSs have large firms from different industries - energy, agribusiness, development, services.

Under the conditions of sanctions imposed by the EU and the US, it has become dangerous for Russian companies registered in unfriendly countries to stay there, explained Svetlana Tikhonova, counselor at NSV Consulting. That is why the state has introduced a simplified procedure for their relocation to SARs since March 2022. This measure was recently extended until the end of 2025, added international and tax law attorney Pavel Martynchenko.

"The conditions for moving companies to special administrative districts are constantly improving. The Ministry of Economic Development continues to respond to business requests and create useful tools that will make the ATS regime more attractive," Russian Deputy Prime Minister Alexander Novak told Izvestia.

Read more in Izvestia's exclusive story:

Resident regiment: the number of firms in "Russian offshore" has grown 1.5 times