The procedure for compensation to foreign companies excluded from offshores has been determined

The Russian government has determined the procedure for paying compensation to foreign companies from unfriendly countries whose rights to own shares in an economically significant organization in the Russian Federation were suspended by a court decision. Relevant resolution published on the official legal information portal.

According to the document, a foreign holding company can apply for compensation to an economically significant company from whose ownership it was excluded. Compensation is paid in the amount of the market value of the shares owned by the foreign company in an economically significant organization.

August 4, Russian President Vladimir Putin signed a law that simplified the transition of economically significant companies to the jurisdiction of Russia. The law also allowed the court to exclude foreign participants from unfriendly countries from ownership.

August 11 Ministry of Economic Development developed rules for including companies in the list of economically significant ones. Such companies are considered to be those that are “essential for ensuring the economic sovereignty and economic security of the Russian Federation.” The criteria for obtaining this status include: revenue volume – more than 75 billion rubles, value of assets – more than 150 billion rubles, staff – more than 4 thousand people.

Erdni Kagaltynov