Special administrative districts play an important role as Western sanctions are imposed on Russian companies
A number of aims have been incorporated in the special administrative district project [areas with a favourable tax regime for investors, – Ed.]. Firstly, these are to repatriate capital and protect business from restrictions imposed from outside Russia. I believe that sooner or later, these aims will be accomplished. It is just a question of time — Nikita Soshnikov, Head of Branch in Vladivostok, Deloitte, Russia.
Work will continue to improve these regimes, because we see that even now, one year on, special administrative districts are in reasonably high demand, both on Oktyabrsky Island, and Russky Island — Andrey Gorlenko, Executive Administrator, Russian Arbitration Centre at the Russian Institute of Modern Arbitration .
There is a need for Russian business to free themselves from dealing with foreign companies where it is possible to do so. It is too early to speak about fully avoiding them. Sometimes foreign companies play a vital role, but at the very least, large companies deal with dozens of companies they could do without. How can companies free themselves in this way? While it is difficult to do it via special administrative districts, it is riskier to do it via other means, which is why interest in these districts will grow — Galina Naumenko, Partner, Tax and Legal Services, PwC Russia.