The Bank of Russia has clarified the requirements for residents with respect to contributions to the authorized capital of foreign companies

According to the decision of the Working Group of the Bank of Russia dated March 06, 2024, Russian residents do not need to obtain individual permission from the Bank of Russia to pay for shares, contributions and units in the property (authorized or share capital, share fund of a cooperative) of non-resident legal entities, if the amount of such transactions in favor of one legal entity does not exceed RUB 15 million

at the official exchange rate of the Central Bank of the Russian Federation on the date of payment, regardless of the location of the recipient of such funds (Decision of the Working Group of the Bank of Russia on March 06, 2024).

This authorization, including the limits stipulated by it, is valid from April 01, 2024 and from the same date the Working Group’s Decision No. PRG-12-4/1383 of 23.06.2022 is cancelled.

If the transaction limit is exceeded, regardless of the currency in which it was made, residents will have to obtain authorization from the Bank of Russia.