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The President signed Federal Law On Amendments to Federal Law On Special Aspects of Regulating Corporate Relations in Business Entities that are Economically Significant Organisations, to Certain Legislative Acts of the Russian Federation, and on Repealing Certain Provisions of Legislative Acts of the Russian Federation.
The Federal Law is aimed at improving the regulation of corporate relations in business entities that are economically significant organisations, including with regard to clarifying the procedure and conditions for the entry of persons indirectly (through foreign holding companies) owning shares (equity stakes) of such business entities, into direct ownership of these shares (stakes in the authorised capital).
Also, the Federal Law sets forth the specific aspects of exercising corporate rights in relation to Russian business entities whose shareholders (participants) are foreign organisations controlled by tax residents of the Russian Federation.
December 25, 2023