RBC: the government approved the criteria for the sale of assets in Russia by foreigners

A voluntary contribution to the Russian budget (at least 10% of the transaction) or providing the buyer with an installment payment plan for up to two years is such a criterion, according to sources RBC, introduced by the government to approve transactions for the sale of Russian assets by foreign citizens. Its use was confirmed to the publication by the press service of the Ministry of Finance.

Among the others three criteriawhich are guided by the subcommittee of the ministry when issuing permits for transactions of residents with companies from “unfriendly” countries:

• the availability of an independent valuation of the assets being sold;
• sale of an asset at a discount of at least 50% of the price established during an independent assessment;
• approval of key performance indicators (KPI) for new owners of the company.

On March 6, the government issued decree, according to which all transactions and operations of Russian companies with citizens and firms from “unfriendly countries” must now be approved by a government commission. In September, Russian President Vladimir Putin signed a decree on a special procedure for transactions with shares in Russian LLCs for persons from “unfriendly” countries.

Andrey Sapozhnikov