A special recording procedure for certain securities will be in effect until the end of 2025

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13.02.2025

PROCEDURE FOR NOTIFICATION OF NON-RESIDENTS' FOREIGN ACCOUNTS - CLARIFICATIONS ARE PROVIDED FOR ORGANISATIONS INCLUDED INTO A GROUP OF COMPANIES

From July 1, 2024, Russian companies included in the same international group of companies (IGC) with non-residents must notify tax authorities of non-residents' accounts in foreign banks and file reports on the flow of funds. These requirements do not apply if they are fulfilled by the parent company of the IGC or a participant in the IGC, and also if more than 50% of the group's assets are located abroad, the resident does not participate in the capital or does not control non-residents in any other way, and non-residents do not participate in the capital of the resident or do not control its activities in any other way.

The requirements for submitting notifications about opening accounts (deposits) apply only to accounts (deposits) opened from July 1, 2024. The requirements for submitting notifications about closing accounts (deposits) and about changing account (deposit) details apply to all accounts (deposits) that are closed or details of which are changed from July 1, 2024.

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