New rules for paying for shares in a business made by residents of the country in favor of non-residents.
As part of the response to anti-Russian sanctions imposed by Western countries, the Russian authorities have adopted a number of regulations. Extraordinary powers have been transferred to executive authorities. Including, on the basis of the Decree of the head of state No. 126 of March 18, 2022. Until the end of the year, the Central Bank of the Russian Federation received the right to issue permits for paying for a share in a business (in the form of a share in the authorized capital, contribution, share or contribution) made by residents of the country in favor of non-residents. In general, such an operation was banned.
At the same time, according to the following clarifications, the Central Bank of the Russian Federation is authorized to establish its own requirements and soften them. All decisions of the regulator are published on its official website, so you can find out about them quickly. On June 23, the working group of the Central Bank of the Russian Federation adopted one of the decisions, which is precisely designed to soften the requirements for residents to obtain mandatory permits to pay for shares in a business.
Operations are now conditionally divided into two groups:
committed in the currency of friendly countries (not committing unfriendly actions against the Russian Federation, Russian legal entities or individuals);
committed in the currency of unfriendly countries, respectively, performing the above actions.
The actual location of the recipient of the funds does not matter. The decision was given retroactive effect, it is valid from June 1.
Payment of shares, deposits, etc. in the currencies of friendly countries and in rubles can now be produced at all without prior permission from the regulator. If the currency of a state unfriendly to the Russian Federation is involved, permission will be required only if the amount of the transaction in terms of rubles at the current official exchange rate of the Central Bank of the Russian Federation is more than 15 million.
The list of unfriendly states was updated and significantly expanded in March 2022, as a result, it included all EU countries, the United States and all countries that are permanent political and economic partners of the West.
Strict requirements imposed on the movement of capital are gradually softened by the state. Previously, the requirements for obtaining permits have already been relaxed for non-residents of friendly states, but restrictions and limits were provided, now they have been canceled. At the same time, Finance Minister Anton Siluanov said that residents of unfriendly countries will not receive the right to transfer funds from Russia abroad until sanctions are lifted.
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