The authorities will take from the departing foreign companies 5% of the market value

Companies from unfriendly countries, when exiting Russian assets, must pay a voluntary contribution of 5% of the market value. This follows from the published site The Ministry of Finance of the Russian Federation extracts from the minutes of the meeting of the subcommittee of the government commission for the control of foreign investment in the Russian Federation dated March 2.

It follows from the document that in the event of the sale of their assets at a discount below 90%, non-residents must contribute at least 5% of their market value to the Russian budget. If the discount exceeds 90%, then the contribution must be at least 10%. Previously supposedthat the fee will be 10% of the transaction amount in any case.

Back in March 2022, the government approved a rule according to which transactions of Russian companies with citizens and companies from unfriendly countries must be approved by the commission for control over foreign investment. According to the latest amendments, the authorization of the commission will be required for subsequent sales or transfers of such securities.

Read more about this in the material “Kommersant” “Assets for the Chosen”.

Lusine Balasyan