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Author Topic: Business in Russia through offshore LLC?  (Read 784 times)

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Offline RichyRich

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Business in Russia through offshore LLC?
« on: November 30, 2014, 06:57:31 AM »
Hey all ;D

I'm reading the interwebs and I came across a few articles on Russian CFC law changes in regards to offshore corporations, namely those from Cyprus, in the sense that there's a want to return capital sourced from Russia back to Russia for Russian taxation. My presumption is that this only applies to Russian tax residents/citizens and not non-residents/citizens but even if that were the case wouldn't it make using offshore entities tricky business once more in Russia?

At current, it's my understanding that Cyprus is still the island of choice for incorporation when doing business in Russia, while staying away from Cypriot/Eurozone banks, but with these new changes is it still going to be Cyprus for Russian business? Are non-Russians being penalised as from a personal viewpoint I'd like the safety of a 'Western' company and bank when doing business in Russia.

What are the opinions of you wonderful guys on this? :)