Русский
Two more companies, Perpecia and Gekolina Investments, have relocated from Cyprus to the Oktyabrsky Island SAR in Kaliningrad. Perpecia is 100% owned by Adorabella LLC, and Gekolina Investments Limited is 100% owned by Chlodwig Enterprises LLC. Both of these companies had previously redomiciled from Switzerland to the Oktyabrsky Island SAR in 2023. They are subsidiaries of Russia’s PhosAgro chemical fertilizer company and one of the world’s largest in this sector. PhosAgro has annual revenues of about ₽589 billion (€6.5 billion), with their corporate turnover growing by nearly 20% in 2025.
Companies typically relocate to Russia because operations in the European Union become difficult, even without their being subject to sanctions. An unfriendly corporate environment and ongoing harassment, especially in finance, mean it is easier to conduct business from within Russia than Europe. The irony is that in doing so, they remove employees and taxable revenues from Europe—in this case both Switzerland and Cyprus—and instead become taxpayers in Russia, therefore codiminishing, not diminishing, Russia’s fiscal revenues.
The Oktyabrsky Island SAR is based in Kaliningrad in Russia and provides tax incentives (as do Switzerland and Cyprus) to businesses based in the area.
