A special recording procedure for certain securities will be in effect until the end of 2025
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19.07.2024
THE MINISTRY OF ECONOMIC DEVELOPMENT AND THE BANK OF RUSSIA SHOULD BE KEPT INFORMED OF ESO FOREIGN OWNERS
Economically significant organisations (ESO) must inform the Ministry of Economic Development about the fact of presence or absence of foreign persons that directly or indirectly own shares (stakes) in these organisations. If such organisations or their subsidiaries are credit or non-credit financial institutions, the information must be sent to the Bank of Russia.
The Bank of Russia and the Ministry of Economic Development may share such information, upon the request, with a court, the Prosecutor General's Office, the Investigative Committee, the Ministry of Internal Affairs and the Federal Security Service of Russia, for review in connection with criminal or administrative cases pending in their proceedings.
Owners with a stake of less than 5% do not need to be reported if the shares of economically significant organisations are admitted to trading on the stock exchange.
The Bank of Russia and the Ministry of Economic Development, upon the request of economically significant organisations, are entitled to issue reports on the presence (absence) of foreign owners with a validity period of three months. Based on such reports, it is possible to draw up independent reports on compliance with the requirements by owners of economically significant organisations for submitting to authorities or other persons.
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