The Ministry of Finance is discussing simplification of registration of legal entities in Russia for foreigners

The Ministry of Finance is discussing simplification of registration of legal entities in Russia for foreigners


The Ministry of Finance does not rule out simplifying the procedure for registering a legal entity for investors from other countries, including unfriendly ones, they said RBC in the department. This topic was discussed at an online meeting of the American Chamber of Commerce with Deputy Head of the Ministry of Finance Ivan Chebeskov.

The meeting took place on February 7, about which reported press service of the Moscow Bar Association "Nikolaev and Partners". The publication about the results of the conversation states that “the creation of new legal entities in the Russian Federation by foreign beneficiaries is encouraged and it is planned to simplify this process.”

The press service of the Ministry of Finance confirmed this. “If foreign investors, even from unfriendly countries, want to create a legal entity in Russia and invest money for business development, then in this case the licensing procedure can be simplified,” the department assured.

The Ministry of Finance clarified that this will require changes to a number of presidential decrees. According to his decree No. 618 of September 8, 2022, transactions with residents of unfriendly countries that entail a change or termination of the rights of ownership, use or disposal of shares in the authorized capital of limited liability companies require approval by the government commission.

In February, the Supreme Court of the Russian Federation (SC) ruled that foreign companies can go bankrupt in the Russian Federation. The court officially recognized the difficulties of Russian creditors participating in courts abroad, including due to sanctions and high costs. The Supreme Court allowed bankruptcy of a foreign legal entity not only within the limits of Russian assets, but also full-fledged cross-border bankruptcy, covering all property and all creditors.

Details - in the material "Kommersant" "The Host in the Judgment Shop".

Laura Keffer



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