Large Russian companies are leaving Cyprus’ jurisdiction en masse. The newspaper writes about this “Fileleftheros”.
According to the publication, more than 10 Russian companies have left the republic forever.
“Russian giants are leaving en masse – more than 10 companies have left for good <…> “The mass departure of Russian companies that have chosen our island as a base is already a reality, and this will continue,” says the publication.
Companies with large business volumes in their sectors are expected to leave Cyprus in the coming months, and other businesses are expected to follow in the future.
Before this, shareholders of TCS Group, the main structure of Tinkoff Bank, approved relocation of a group of companies from Cyprus to the Russian special administrative region.
Relocation is the transfer or registration of a company in another jurisdiction. Moreover, this process does not mean a change in its structure and does not affect the assets and liabilities of the company.
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