OREANDA-NEWS. RT Global Resources, a subsidiary of Rostec, has registered the company RT-GR Overseas Limited in the Barbados. This company will make cooperation with oil and gas as well as petrochemical companies from countries in Latin America easier in the future.

All financial activities of the new company will be declared in Rostec's consolidated financial statements, which will allow all tax revenues from the activity of RT-GR Overseas Limited to be directed to the state budget of the Russian Federation.

According to Andrey Korobov, General Director of RT Global Resources, Barbados is a favorable country for conducting business with international companies.

"Geographically, the country is relatively close to our actual and potential partners in Latin America, including those in the same time zone. In particular, we have in mind the Venezuelan state oil company PDVSA and the Mexican state oil, gas and petrochemical company Pemex. The jurisdiction that we have chosen is clear, standard and simplifies the mode of doing business with these partners," he said.

The registration of the new company will allow for arranging the delivery of goods to the region going forward by using the country's port and logistics infrastructure. The country's favorable investment climate is a big plus: taxes on profits do not exceed 2.5%.

In addition, the procedure for registering the company on Barbados and the filing of financial reports is significantly simplified, which is quite convenient for the state corporation. The official language of the island nation is English, which also provides additional advantages for the Russian company and simplifies communication.

RT GLOBAL RESOURCES is a subsidiary of Rostec. The company was established to sell raw materials and related infrastructure projects in Russia and abroad.