The owner of the largest pizza restaurant franchises in Russia, Dodo Pizza, and the rapid growth chain in the Drinkit chain, moved its headquarters to Kazakhstan, the International Center for Financial Astana (AIFC) announced on Monday.
According to the Astana International Financial Center (AIFC), a special economic zone that offers favorable conditions for multinational companies, Dodo Brands ended its redomyciliation of the British Virgin Islands to its jurisdiction last Thursday.
The experts of the industry who talked to the Kommersant commercial newspaper said that Kazakhstan presents a more favorable legal and financial environment for Russian companies than the British virgin islands. Moscow appointed the British territory abroad as a “hostile country” shortly after President Vladimir Putin ordered the large -scale invasion of Ukraine in 2022.
From the spring of 2024, more than 40 foreign companies with total assets that exceed $ 1.5 billion had moved to Kazakhstan, according to the AIFC. Meanwhile, Russia said 500 companies had registered in their own special economic zones for the spring of this year.
Founded in 2011 by the Russian businessman Fyodor Ovchinnikov, Dodo Brands has expanded to Europe, the Middle East, Africa and Southeast Asia, operating 1,300 restaurants and coffee shops in 26 countries.
The company reported an year -on -year increase of 39.5% in 2024, for a total of 117.6 billion rubles ($ 1.49 billion). The income for the first quarter of 2025 was 33.3 billion rubles ($ 423.6 million).
Kommersant, citing an anonymous source of the food industry, said that the move of the company to Kazakhstan aligns with its plans for greater international expansion.
The CEO of Dodo Brands, Dmitry Soloviev, said the company chose Kazakhstan because or its existing operational base there.
“The AIFC was a logical option for redomyciliation: Kazakhstan is home to the Dodo Brands Corporate Office, and a significantly part of our international business is carried out there,” he said.
A message from Moscow Times:
Dear readers,
We face unprecedented challenges. The Office of the Attorney General of Russia has appointed Moscow Times as an “indifferent” organization, criminalizing our work and putting our staff at risk of prosecution. This follows our previous unfair labeling as a “foreign agent.”
These actions are direct attempts to silence independent journalism in Russia. The authorities claim that our work “discredits the decisions of Russian leadership.” We see things differently: we strive to provide precise and impartial reports about Russia.
We, the Moscow Times journalists, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly from $2. It is quick to configure and each contribution has a significant impact.
By supporting Moscow’s times, he is defending open and independent journalism against repression. Thanks for being with us.
Continuous
Are you not ready to support today?
Remember me later.
×
Remind me next month
Thank you! Your reminder is configured.
We will send an email of reminder within a month. For details about the personal data we collect and how it is used, see our privacy policy.
