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Russian State Duma wants to turn Crimea to offshore zone

The author aims to protect Crimean investors from sanctions by trusts
12:38, 28 April 2017

RIA news

Russian State Duma prepares the draft law on establishing offshore jurisdiction in Crimea. This was reported by Kommersant.

The author of the initiative is the deputy committee head of the chamber on foreign affairs Aleksei Chepa (Just Russia political party).

Trusts are to ensure anonymity of the investors of the occupied Crimea.

“Under the usual trust management the owner of assets is known, but the Crimean trusts must get the rights on the assets transferred to them. In this case the beneficiary becomes invisible, but remains with incomes,” the newspaper said.

The authors of the law want to allow in the occupied Crimea and Sevastopol activities that are currently impossible in the Russian Federation, namely: foreign banks, insurance companies, pension funds and brokerage companies are offered the opportunity to work without a license. In addition, there is a simplified procedure for obtaining Russian citizenship for investors who invested in the bonds of the occupied peninsula starting from 1 million euros, and the foreigners who came to the peninsula are offered a visa-free regime.

Related: Yanukovych wrote letters to Putin and State Duma in 2014

The author of the draft Aleksei Chepa stated that this is not an attempt to create an offshore zone, it is to fight sanctions that could threaten business in the occupied Crimea.

The project has not yet been introduced to the State Duma of the Russian Federation, according to him.

Earlier it was reported that ex-deputy of Russian State Duma killed in Kyiv. Voronenkov left the hotel with a security guard, and the killer opened fire on them. The deputy received wounds and died on the spot.

Related: Russian State Duma adopt “sadist law”

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