Further tightens the regulations for foreign companies exiting the Russian Federation
18 Oct 2024
On 15 October 2024, the Sub-Commission for Control over Foreign Investments of the Russian Federation issued updated regulations for foreign companies exiting the Russian Federation, further tightening financial and procedural obligations. Key updates include:
- the mandatory discount on asset sales has been increased to 60 per cent (up from 50 per cent), based on valuations conducted by pre-approved appraisers and verified by self-regulating organizations;
- the exit tax has risen to 35 per cent (up from 15 per cent) and is to be paid in three installments following the transaction closing;
- asset sales exceeding 50 billion roubles (approximately $510 million) now require approval from the President of the Russian Federation.
These updates were published on the Ministry of Finance's website on 18 October 2024.
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Treatment and operation (Nationalizations and expropriations, Operational conditions )
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