Bank of Russia eases requirements for residents on contributions to foreign companies’ authorised capital
Russian residents are not required to obtain an individual permit from the Bank of Russia to pay for stakes, deposits or shares in non-residents’ assets if the funds are transferred in rubles or in the currency of a friendly state. When a payment is made in the currency of an unfriendly state, such transaction may not exceed an equivalent of 15 million rubles.
Similar requirements are applicable to contributions made to the benefit of non-residents under simple partnership agreements.
Previously, such transactions were possible without an individual permit from the Bank of Russia if funds were transferred to the benefit of residents only from friendly states in the currency of a friendly state or in rubles in an amount of no more than 10 million rubles.