Финансово-консалтинговая компания CYWORLD WEALTH

Russia is reforming corporate governance

14 Sep

Russia is reforming corporate governance

Russia is reforming corporate governance

The authorities of the Russian Federation issued Order No. 1723-r, which formulates ways to improve legislation in the field of corporate governance and improve the business climate. Among the changes, it is also planned to amend the Federal Law “On International Companies and International Funds” in terms of clarifying the requirements for a foreign legal entity that can be granted the status of an international company or an international fund.

The Russian authorities have decided to increase the geography of countries whose legal entities will be able to “move” to special administrative regions – Fr. Russian and Fr. October. Now the bill has already been submitted to the Ministry of Economic Development and the Bank of Russia. It can be concluded that the legislators are loyal to the changes, which means that the corresponding law may appear already at the beginning of 21, and not in May, as planned by the Government of the Russian Federation. However, this bill has not yet been approved by the State Duma deputies.

These changes will increase the number of regional groups that have the opportunity to change their legal address and “move” to Russia, i.e. make “re-domiciliation”. Legislators are trying to attract domestic and foreign capital by creating a special zone with preferential taxation. Companies even from the so-called “black (offshore) zones” of the FATF will be able to move to the Russian harbor. states that do not comply with their recommendations (for example, do not disclose ultimate beneficiaries), such as the Bahamas, Mauritius, Panama, Samoa, and Seychelles.

Further professional advice should be sought for each particular case. Our firm does not accept any responsibility for any loss or damage occurring by acting on the basis of this information. Also, please visit our website for further updates.

Request a call back

Want to consult with one of our financial advisers by phone? Leave your details and we will contact you shortly. You can contact us by specifying your email.

    Получить консультацию

    Хотите проконсультироваться с одним из наших финансовых консультантов по телефону? Оставьте свои данные и мы свяжемся с вами в ближайшее время. Вы можете связаться с нами указав свою электронную почту.

      Order service

        Заказать услугу