The Bakaevka kingdom lives off the sale of non-customs cleared cars from EU countries and the issue of its own license plates.
Local businessmen also enjoy an exterritorial status which enables them to avoid paying taxes to Kiev, guarantees their immunity from prosecution and their ownership rights.
This self-styled “state” owes its existence to a legal loophole which allows the establishment of legally indefeasible organizations such as economic entities that are free to choose the exact types of services they provide.
According to Ukraine’s National Security Service, no legal action has so far been taken against the self-proclaimed “kingdom” in Bakayevka.
Just how much money the organizers of the exterritorial “state” are making remains anyone’s guess, TSN reported.
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