Bank of Russia updates requirements for residents to make contributions to foreign companies’ authorised capital
12 March 2024
News
Starting from 1 April 2024, Russian residents are not required to obtain an individual permission from the Bank of Russia to pay for shares, contributions, and units in the non-residents’ property if the amount of such transactions for the benefit of a legal entity does not exceed ₽15 million.
The transaction can be performed in Russian rubles and in a foreign currency in the ruble equivalent at the Bank of Russia’s exchange rate as of the payment date.
If the transaction amount, regardless of the payment currency, exceeds the limit, the Bank of Russia’s permission is required as before.
Similar requirements extend to contributions to non-residents under simple partnership agreements.