Requirements for the establishment of an IC through incorporation
According to the Bill, an IC may be registered in a SAD through incorporation if the following conditions are all met:
1. The founder (or co-founder) of the IC to be established is a foreign corporate entity established no later than 1 March 2022 (the Government of Russia may set a later date), provided that:
- the redomiciliation of the entity concerned to the territory of Russia is provided for or is not prohibited by the personal law of the foreign entity; and
- securities of the foreign entity are listed on organised foreign exchanges as at 1 March 2022;
2. The founder (or co-founder) of the IC to be established has undertaken to make investments in the territory of Russia (within one year of the registration of the IC and in an amount not less than 50 million roubles);
3. The founder (or co-founder) of the IC to be established has applied to conclude an agreement on the conduct of activities in the territory of the SAD;
4. The founder (co-founder) of the IC to be established is registered in a state or territory which is a member of FATF, Moneyval, EAG, APG, ESAAMLG, GAFILAT, MENAFATF, CFATF, GIABA or GABAC.