The Federal Law is aimed at simplifying state registration and operation of international companies and international foundations in special administrative districts in the territory of Kaliningrad Region and Primorye Territory.
To this effect, the Federal Law establishes the specifics of state registration for international companies that are unable to provide the complete set of necessary documents; it specifies criteria for granting a foreign legal entity the status of an international company; it extends the timeframe for the international company to invest in the territory of the Russian Federation; regulates the order of international companies’ operation through their branches, representative offices or other detached units.
In addition, the Federal Law envisages the opportunity to establish personal international funds (including international estate funds) in special administrative districts.