In Kaliningrad approved the name of special administrative region

© RIA Novosti / Igor Taraborrelli in photosangelina. Archival photo<img src="/wp-content/uploads/sites/5/2018/09/e9727cc895cd7a4884fc3113c7ed04b7.jpg" alt="In Kaliningrad approved the name of special administrative region" />© RIA Novosti / Igor Taraborrelli the image Bank

Deputies of city Council of Kaliningrad at the meeting on Wednesday officially approved the name «October Island» for the territory, which is planned to place a special administrative district, told RIA Novosti in the city Council.

«Historically, the name assigned to an element of the planning structure, located in the Central district — «the Isle of Oktyabrsky», — told in the city Council.

The Oktyabrskiy island in Kaliningrad historically had this name, but the formal title was not fixed. Geographical name Islands October, where he built a stadium for the world Cup, members of the city Council approved unanimously. The assignment of official names was necessary to create in the Kaliningrad special administrative region.

The Russians controlled foreign companies may re-register in the special administrative regions in the Russian Islands in Vladivostok and October in Kaliningrad, a package of laws came into force in August. Changing the way foreign jurisdiction to the jurisdiction of the Russian Federation, the company gets an international status and the possibility of restrictions to make currency transactions and calculations. Also provides tax incentives, in particular, the reduction of income tax for income received from dividends and the sale of the shares. One of the purposes of creation of special administrative regions — to minimize the consequences of sanctions by foreign States.