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Amendments to the Russian Civil Code: what is new for the Russian personal foundations?

DATE: July 25, 2024 | AUTHOR: AT

On 23rd of July 2024 the State Duma adopted the amendments to the articles of the Russian Civil Code regulating personal foundations.

In accordance with the amendments:

  • The Charter of the personal foundation may stipulate that foreign law may be applicable to the relationships of the personal foundations with foreign individuals or legal entities or to the relationships with a foreign element;
  • The property may be transferred to the personal foundation not only by the settlor, but also by any other person.

We will keep you updated.

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