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Bank of Russia allows contributions to authorised capital of companies from friendly states

27 May 2022

Russian residents, provided that they also comply with a number of terms, will be able to pay for stakes, deposits and shares in non-residents’ assets, as well as make contributions to the benefit of foreigners under simple partnership agreements without receiving a prior individual permit from the Bank of Russia.

Specifically, a company that will receive a payment should be from a friendly state and the payment should be made either in the currency of the friendly state or in rubles. The size of a stake, deposit or share in a non-resident’s assets or a contribution under a simple partnership agreement, under which the payment is made, may not exceed ten million rubles or an equivalent amount in foreign currency.

If the above terms are not applicable, a resident wishing to conduct a transaction will still need to obtain a special permit from the Bank of Russia.