Uralchem, JSC informs that the Uralchem Holding P.L.C. and CI-Chemical Invest Limited holding companies have been re-domiciled from Cyprus to Russia. The decision to re-register the structures that hold shares of one of the largest Russian chemical producers was made taking into account the role of Uralchem as a backbone enterprise of the Russian industry, and with the aim of increasing tax efficiency for the benefit of both the company and the Russian budget.
“Currently, conditions are being created in the Russian jurisdiction for the successful development of legal entities that own production assets. For the first time in many years we have reached that milestone when the registration of companies in our homeland becomes more attractive than anywhere abroad, not only from organizational but also from commercial and taxation points of view," said Igor Bulantsev, Deputy CEO – Chief Financial Officer of Uralchem, JSC.
Thus, Uralchem Group’s entire asset management chain is located in the Russian Federation. Tax revenues from the group’s former foreign assets will now also go to our state budget.