Further stimulation of deoffshorization in Russia

article 17.01.2022

Federal Law No. 384-FZ dated 29.11.2021, among other amendments, amended the Budget Code of the Russian Federation concerning additional restrictions on receiving investments and subsidies from the state budget for companies with foreign shareholders.

In particular, only those legal entities where offshore foreign companies directly or indirectly hold less than 25% of the capital can now apply for financing from the state budget. Previously, the required shareholding was 50%.

At the same time, shares traded at organized auctions will not be taken into account when determining percentage of shareholding.

According to the Information and Analytical system Globas there are currently over 9 thousand companies in Russia, where one of the foreign shareholders holds up to 25% of the capital.

Users of the Information and Analytical system Globas have the opportunity to get all available information about these companies, as well as get basic data or order investigation about their foreign shareholders.