4 ms·

> Do you know if its only incorporation in EU countries? Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian r

> Do you know if its only incorporation in EU countries? Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. > is that transactions out of the country or any transaction It's about transfers of funds from Russia to foreign bank (and "bank-like") accounts. Accepting money from abroad is still legal -- which is confirmed by the fact that they yesterday imposed a requirement of mandatory conversion of 80% of any foreign-currency revenue to rubles.

cf141q5325 5y ago
> Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. Do you know if that also applies for legal entities or only natural persons? That would mean a Russian holding company for the shares? Its a structure common even inside the EU as well for tax reasons.
- MrDisposable 5y ago
  > Do you know if that also applies for legal entities or only natural persons? Not sure (would adive to consult a lawyer), but it's quite possible that it applies both to physical persons AND legal entities.
egao1980 5y ago
1) It's not forbidden to control foreign company - you have to report it in 3 months time. And potentially pay taxes if there's no double taxation agreement. 2) That 80% is for corporations bringing funds into Russia as foreign currency. For an individual you'd need ruble to buy things in Russia anyway so it is not a thing to care about.
formerly_proven 5y ago
> It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. How does this work with Gazprom owning Nord Stream 2 AG (incorporated in Switzerland)? Exempting legal entities would make the law extremely easy to circumvent, so I'm guessing that's not it.

cf141q5325 5y ago

> Anywhere abroad. It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. Do you know if that also applies for legal entities or only natural persons? That would mean a Russian holding company for the shares? Its a structure common even inside the EU as well for tax reasons.

MrDisposable 5y ago
> Do you know if that also applies for legal entities or only natural persons? Not sure (would adive to consult a lawyer), but it's quite possible that it applies both to physical persons AND legal entities.

egao1980 5y ago

1) It's not forbidden to control foreign company - you have to report it in 3 months time. And potentially pay taxes if there's no double taxation agreement. 2) That 80% is for corporations bringing funds into Russia as foreign currency. For an individual you'd need ruble to buy things in Russia anyway so it is not a thing to care about.

formerly_proven 5y ago

> It is illegal (and has been illegal since 2014 or so, can't remember) for a Russian resident to have a controlling stake in a company not incorporated in Russia. How does this work with Gazprom owning Nord Stream 2 AG (incorporated in Switzerland)? Exempting legal entities would make the law extremely easy to circumvent, so I'm guessing that's not it.