Redomiciliation is the re-registration of the company in another country while retaining its legal form, structure, assets, liabilities, bank accounts and other. 

VK notes that in the current situation, when most of the assets are based and generate revenue in Russia and the number of Russian securities holders has increased, “redomiciliation is in the interests of the company and its shareholders and is a best practice for public companies to leave foreign offshore jurisdictions.”

If redomiciliation is implemented, according to Russian law VK will become an “international public company”. The holding company will be able to continue operating as a legal entity in Russia, and the redomiciliation procedure will improve the efficiency of the company's management.

The company intends to maintain its public status and plans to report on the progress of redomiciliation on a regular basis.