Central Bank discusses expanding opportunities for Russian businesses to move home

The Bank of Russia expects that various versions of legislation on the “relocation” of securities and business of quasi-foreign companies will be adopted before the end of the year. This was told to journalists by the director of the department of corporate relations of the Central Bank Elena Kuritsyna at the financial congress of the Central Bank. The regulator is discussing various options for this process with the Ministry of Economic Development, she explained.

The first is already in force and enshrined in legislation: redomiciliation, Kuritsyna said. “We are now discussing possible ways to legislate some kind of expansion of opportunities for redomiciliation. Then foreign holdings, which are often also public companies, could get the opportunity to become Russian companies by changing their citizenship, so to speak,” she explained. A number of other initiatives are also being discussed – more complex and risky in terms of possible consequences for business, shareholders and the preservation of property rights, she added.